Amazon.com Inc (NASDAQ:AMZN), Berkshire Hathaway (NYSE:BRK.B) and JPMorgan Chase (NYSE:JPM) reportedly have plucked a chief operating officer to pitch in with the oversight of their new joint health partnership, per CNBC.
The trio of companies has brought on Jack Stoddard, the former general manager for digital health at Comcast (NASDAQ:CMCSA), to serve alongside writer and doctor Atul Gawande who is at the helm as the CEO of their separate company that will provide healthcare to US employees and their families.
Stoddard was formerly on the starting team of the health technology company Accolade, a Comcast Ventures-backed start-up that works with employees to take care of their health benefits, according to CNBC.
The efforts by Berkshire boss Warren Buffett, JPMorgan CEO Jamie Dimon and Amazon chief Jeff Bezos to come up with a way to slash the cost of company healthcare has generated considerable buzz as their new joint venture may one day offer an industry-changing model that other companies look to for guidance.
Warren Buffett said combining resources with Amazon and JPMorgan mean they can attract the country’s best talent, check the rise in health costs and enhance patient satisfaction and outcomes.
“The ballooning costs of healthcare act as a hungry tapeworm on the American economy,” Buffett said. “Our group does not come to this problem with answers. But we also do not accept it as inevitable.”
JPMorgan chairman and chief executive Jamie Dimon, meanwhile, said his employees want “transparency, knowledge and control” when it comes to managing their healthcare.
“The three of our companies have extraordinary resources, and our goal is to create solutions that benefit our US employees, their families and potentially, all Americans,” he said.