We've all come to terms with the fact that Amazon is taking over the world right?
Just last week, they launched their first cashier-less grocery store, Amazon Go, in downtown Seattle. Today, they announced that they're venturing into health care.
That is not a misprint.
Amazon is getting into the medical game. CEO Jeff Bezos is teaming up with JPMorganChase and Berkshire Hathaway to create an independent health care system for their domestic employees.
Amazon, Berkshire, JPMorgan partner to cut U.S. healthcare costs https://t.co/w9SLHbnDvj— Reuters Top News (@Reuters) January 30, 2018
In his announcement, Bezos states “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.”
Basically, the three companies will start by trying to offer affordable health care alternatives for their own employees, but they're not ruling out eventually offering healthcare solutions for all Americans in a shakeup that would drastically change the current medical landscape.
Shares of leading insurers and drug stores tanked after Amazon, JPMorgan Chase, and Warren Buffett's Berkshire Hathaway announced they would enter the insurance business https://t.co/nRcMJUynBC pic.twitter.com/qMmUgBRCtQ— CNN (@CNN) January 30, 2018
Would you buy health insurance through Amazon? Speculation online has been surprisingly positive, which is either a testament to our trust in Amazon or an alarming condemnation of the healthcare industry - or maybe both.
Amazon Insurance... I would be all over that.... is there a buy-with-1-click feature? https://t.co/M66JZwfegl— Coach Carmichael (@coltcarmichael) January 30, 2018
Or to put it in plain English: if Amazon gets into the prescription retail or distribution businesses, it will almost certainly force the price of drugs down while increasing access to patients nationwide. It can do the same if it gets into insurance as well.— Offseason Champs (@SportingParagon) January 30, 2018
Amazon bout to be in the insurance business..— X-Klusive (@KaptnFatNipple1) January 30, 2018
Wonder if my prime account comes with coverage
Very encouraged on the news of the Amazon, Berkshire and JP Morgan new health insurance venture. It is going to be a game changer. Ethical heath insurance, what a concept.— Greg Vaniman (@CoachVaniman) January 30, 2018
While it's likely still years away from affecting the average consumer, Amazon's technology and easy access to millions of Americans could potentially provide a really appealing healthcare alternative. Would you be in?