Amazon, Berkshire and JPMorgan partner to launch new healthcare company for their employees

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Big news hit the wires last week as Amazon, Berkshire Hathaway and JPMorgan announced their intention to “form a company to cut health costs for hundreds of thousands of their employees, setting a major challenge to an inefficient U.S. healthcare system.”[1]

The goal of the consortium is to utilize the synergies of all three companies to improve employee satisfaction and reduce costs. Berkshire Hathaway’s Business Wire news article about the partnership quotes Amazon founder and CEO, Jeff Bezos:

“The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty. Hard as it might be, reducing healthcare’s burden on the economy while improving outcomes for employees and their families would be worth the effort. Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”[2]

The three companies plan to initially focus on using technology to improve employee satisfaction and lower costs. The group might consider taking advantage of an online medical marketplace that provides full retail capabilities for their employees to shop, book and pay for for healthcare services and procedures within their networks. They can, essentially, provide centers of excellence for their employees that are local to their employees.

The HealthQRS e-commerce medical marketplace does just that. It would allow the Amazon, Berkshire, JPMorgan group to set up their own marketplace for their employees and dependents, keep people in their networks, and navigate them to the lowest-cost provider based on quality. The HealthQRS solution is powerful and all-encompassing and would allow this partnership to communicate between the providers and employees with alerts, texts and referral management capabilities. Our system also provides analytics tools.

Everyone wins with local centers of excellence because quality is high with lower costs. A local center of excellence supported by an online medical marketplace allows you to:

  1. Manage health care costs of all three companies and lower costs.
  2. Negotiate directly with network providers. Since they get paid in advance with our system, they stay satisfied and could be willing to negotiate lower contract rates.
  3. Help employees act like consumers when shopping for healthcare, which allows them to do what they do when they buy anything else: search out the highest quality for the lowest cost possible. This helps employees manage their costs, which, in turn, helps lower your costs.
  4. Navigate employees to the lowest cost, highest quality choices available.
  5. Allow you to navigate employees to emerging healthcare solutions such as telehealth, private clinics, concierge medicine, etc.

A simple-to-use, yet complete e-commerce medical marketplace is the tool to help corporate America’s businesses and employees save money on healthcare. The ideal solution is a platform that gives consumers the ability to comparison shop with lists of actual out-of-pocket expenses, select the highest quality services for the lowest price possible, and to finish the transaction while they are in the application, unlike the solutions that only offer estimates or appointments.

The best part? The ideal solution exists and is ready to be implemented. HealthQRS has created an e-commerce medical marketplace that can actually lower costs. Even though it’s complicated beneath the surface, it’s extremely easy for the consumer to use. Think of it like a Priceline or Expedia for healthcare, where a user simply types in the procedure or service he or she needs, and a list appears on the screen complete with exact out-of-pocket costs. Our built-in navigation can direct consumers to telehealth services as well. In addition, our software is enabled for voice recognition.

HealthQRS has developed the only complete e-commerce medical marketplace platform on the market. We essentially created the “Amazon platform” for healthcare, and our solution can be used for virtually any healthcare model including hospitals, clinics, post-acute care providers, outpatient surgery centers, behavioral health and freestanding imaging centers. Our solution is a Software as a Service (SaaS), so there is no capital investment, only a low monthly fee.

It’s easy to learn more about HealthQRS and our e-commerce medical marketplace and how we can help any employer do what Amazon, Berkshire and JPMorgan are planning to do. We have over 12 years of experience developing healthcare retail experiences for consumers and our founders have over 50 combined years of e-commerce experience. Our E-Commerce Medical Marketplace Flyer provides more information. Click here to download the flyer. We invite you to contact us right now for more information or click here to schedule a demo.

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[1] Caroline Humer, David Henry, “Amazon, Berkshire, JPMorgan partner to cut U.S. healthcare costs,” Reuters, Jan. 30, 2018, https://www.reuters.com/article/us-amazon-healthcare/amazon-berkshire-jpmorgan-partner-to-cut-u-s-healthcare-costs-idUSKBN1FJ1NF

[2] “Amazon, Berkshire Hathaway and JPMorgan Chase & Co. to partner on U.S. employee healthcare,” Business Wire, Jan. 30, 2018, https://www.businesswire.com/news/home/20180130005676/en/Amazon-Berkshire-Hathaway-JPMorgan-Chase-partner-U.S.

 

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