JPMorgan, Berkshire Hathaway, and Amazon officially have a name for their joint health venture: Haven.
The three employers oversee healthcare for about 1 million people, and spend $4 billion a year on it. When they joined forces, they said that the venture would be aimed at lowering healthcare costs and improving care for their workers. Stoddard said the plan is to partner with existing companies when possible rather than build new products to improve the companies' healthcare.
"We've been asked to look at the full spectrum of what are the options, how can we crack the code, who can we have partner with, and how can we derive better outcomes, in the order of better experience, better quality and then lower costs," Stoddard said."We are not trying to create value for shareholders," Stoddard said."We're trying to create value for families who are trying to use the health care system.
Stoddard said this year will be focused on building the team, doing research, and deploying tests of programs through partnerships with other companies. For example, one of the first tests the venture might run is to simplify health benefits for a select group of workers. The test could knock out some of the complexity that exists in a traditional health plan, offer easier ways to get care, or make drugs prescribed to treat chronic conditions less expensive, he said.
If the tests are successful, JPMorgan, Berkshire Hathaway, and Amazon could expand them to more of their workers.
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