Amazon.com, Berkshire Hathaway and JPMorgan Chase are forming an independent company, “free from profit-making incentives and constraints” to “provide U.S. employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost.” They say they’ll be “tackling the enormous challenges of healthcare and harnessing its full benefits.”
While the initial focus will be on technology, and the efforts will initially be aimed only at employees of the three firms, one suspects that the ambitions are slightly bigger: building a business that can somehow tamp down the pressures that drive health-care costs ever upward. In remaking the market for health-care services, they might even divert some small fraction of that gross national spending into their own pockets.
Most large companies self-insure. They generally pay outside firms to administer their health insurance for them, but they are financially responsible for the claims. A large employer is a little statistical universe, with unusually healthy employees balancing out the bills for the unusually sick ones. The large companies do have some experience managing health insurance.
Amazon totally outclasses the existing healthcare insurance companies in terms of IT technology.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.