Dimon says after health venture was announced insurers were ‘pissed off’

The effort, spearheaded by Berkshire Hathaway executive in addition to J.P. Morgan board member Todd Combs, has yet to settle on a CEO. After in which happens, the venture will begin testing ideas to attack the myriad problems related to the rising costs of American healthcare, Dimon said. When the effort was announced January 30, the shares of pharmacy benefit managers, heath insurers in addition to biotechnology companies all slumped.

The effort carries a 20-year horizon in addition to seeks to partner with companies within the healthcare ecosystem, Dimon said. Among issues to tackle are related to use of data, lack of consumer choice, high costs related to fraud in addition to administrative costs, end of life care, in addition to lifestyle-related diseases, he said.

“They could attack This particular one drug at a time, they could attack chronic care, they could attack emergency rooms,” Dimon said. “There will be things we will come up with in which we couldn’t possibly think of today in which will hopefully make This particular much better.”

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