Buffett, Bezos and Dimon just dropped a bombshell. How should health systems respond?
Yesterday, Warren Buffett, Jeff Bezos, and Jamie Dimon dropped a bombshell announcement on the healthcare industry. They plan to pool the resources of Berkshire-Hathaway, Amazon, and JPMorgan to create a new health-focused company, in a bid to secure better health outcomes for their employees.
Nobody knows exactly what form their initiative will take. But this will not be a minor shift. These are three of the largest, most profitable, and most influential companies in America, and whatever comes of this will almost assuredly have a profound impact on the industry as a whole.
Last month, we predicted this might happen. We’ll offer one more prediction now: consumers will embrace the change incited by these non-traditional players. Patients around the country want more out of their providers, and Buffett, Bezos, and Dimon are adroitly positioning their firms to capitalize on that demand.
Savvy healthcare organizations should recognize the risk that this new mega-company could present. But they should also recognize the opportunity at hand. Speaking about the initiative, Buffett gave a statement that captures it well—that “the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes.”
That’s a mission NRC Health has worked toward for years, and it’s one every health system can—and should—embrace. It’s the surest path to a flourishing future in the world’s most exciting industry.