Amazon, Berkshire Hathaway & JP MorganChase Healthcare Venture Launches

July 10, 2018

Dr. Atul Gawande reported for his first workday this week as Chief Executive Officer of the new healthcare venture that Amazon, Berkshire Hathaway, and JP Morgan Chase announced earlier this year.

Dr. Gawande is a surgeon and was previously a professor at Harvard Medical School and its School of Public Health.

In an email to his former colleagues, Dr. Gawande stated, “This new health care organization represents one of the most promising opportunities to accelerate improvement of U.S. health care delivery. The work will be difficult and take time, but it must be done. And we will have the opportunity to do it together, with many exceptional organizations. My vision is to develop high-impact collaborations across the health care sector.”

The Amazon, Berkshire, Hathaway and JP MorganChase non-profit venture was created to address ballooning healthcare costs by reducing administrative costs, decreasing prices, streamlining appropriate health care usage, and “take some of the middlemen out of the system.” Healthcare spending accounted for 18 percent of the U.S. gross domestic product this year, and it is projected to hit 20 percent by 2025.