It's been a week since news broke of Amazon, Berkshire Hathaway and JP Morgan's plan to take on the health care industry with their own business collaboration. Since then, there's been no shortage of news articles and opinions on how the move will play out, from speculation on who will run the company and how it will be structured to what it means for other health care giants.
It's one thing to listen to health care and financial pundits extrapolate on a broad level about the potential to disrupt or completely revolutionize the market, but it's another to get into the gritty details of how to make it actually happen. Insurance and benefits brokers, however, know that's easier said than done–they've been working for years to find new ways to lower health care costs for their employer clients. As such, they have a unique perspective on what impact Amazon and Co. could have, and how they might succeed:
|A chink in the status-quo armor
"The recent announcement between Amazon, Berkshire Hathaway, and JP Morgan has huge potential ramification to do good in our system. While there are still few details, and I see potential conflicts of interest–particularly in the Berkshire Hathaway portfolio–there is no doubt that these leaders hold the potential to create change. I think the greatest potential change could be from a change in mindset and culture and validation in this country that the status quo no longer needs to be accepted by any and all employers in all segments, geographies and industries."—David Contorno, Lake Norman Benefits, Inc.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.