Inc. February 26, 2018
If they manage to lower costs in this $3.3 trillion industry, we’ll all benefit.
The news broke in late January. Amazon, J.P. Morgan Chase and Berkshire Hathaway were teaming up in a joint venture to do something about the high cost, complexity, and bureaucracy of U.S. health care. The announcement struck fear into the hearts of pharmaceutical and health insurance investors, and companies from Humana to UnitedHealth to CVS watched their share prices tumble.
There was only one problem. None of the three partners offered any details whatsoever about their planned venture, other than to say it would be “free from profit-making incentives and constraints.” And they added, perhaps unnecessarily, that the venture was in its very early stages.
Some...
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