Buffett, Bezos, Dimon tap Gawande as CEO of fresh health-care company

J.P. Morgan’s Dimon told CNBC earlier in June in which This kind of is actually a long-term initiative. He said there are a lot of ideas out there along with also things they know can be done better, pointing to fraud, administrative costs, overuse along with also underuse of various drugs, along with also specialized procedures.

Gawande has been vocal about his ideas to improve health care along with also lower costs. He has advocated more integration in health care, saying in a 2012 TED Talk in which the ones getting the best results at the lowest costs have found ways to get all the different pieces to come together into a whole.

“There’s a famous thought experiment in which touches exactly on This kind of in which said, what if you built a car coming from the very best car parts? Well the item could lead you to put in Porsche brakes, a Ferrari engine, a Volvo body, a BMW chassis. along with also you put the item all together along with also what do you get? A very expensive pile of junk in which does not go anywhere. along with also in which is actually what medicine can feel like sometimes. the item’s not a system,” he said.

Despite momentum around the venture, some health-care experts have been skeptical about whether Buffett, Dimon along with also Bezos, while business icons, can simplify the current system.

Andy Slavitt, who was chief of the Centers for Medicare along with also Medicaid Services during the Obama administration, is actually among the consultants the trio spoke with. He praised the decision to have Gawande lead the effort.

“There are few better people in health care than [Gawande],” he said. “They are fortunate to have him, principally because of his moral leadership.”

Buffett said in a statement in which the trio was looking for “talent along with also dedication” when interviewing candidates.

“We said at the outset in which the degree of difficulty is actually high along with also success is actually going to require an expert’s knowledge, a beginner’s mind, along with also a long-term orientation,” Bezos said in a statement. “[Gawande] embodies all three, along with also we’re starting strong as we move forward in This kind of challenging along with also worthwhile endeavor.”

— CNBC’s Bertha Coombs contributed to This kind of report.

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