The creation of a new health company by Amazon, JP Morgan Chase and Berkshire Hathaway has major potential implications to the existing healthcare business model. I am hopeful that these three well-run businesses will be able to build on their strengths in technology, innovation, analytics, underwriting and insurance, and mergers and acquisitions to create a new approach to healthcare that inspires others to follow suit.
The Health ecosystem as we know it is ripe for change and existing health management business models have not been able to deliver consistently on the hope and need for improved access, low cost and high quality. I believe that we will see more new entrants into the health arena who will challenge the status que and propose solutions that could change the dynamics and spur innovation in an extremely complex field that has tremendous impact on everyone’s well being.
The fact that Amazon and its leader, Jeff Bezos, have already taken steps to investigate entry into the prescription drug market may further strengthen the approach that the new company takes.
I was also quoted in Men’s Health on the new company’s creation.
Sam Hanna, MBA, CISA, CBCP, CRISC is the program director for the Masters of Science in Management of Health Informatics & Analytics (HealthInformatics@GW) program at The George Washington University. Prior to this role, he held leadership positions at global professional services firms where he was responsible for creating and leading large multidisciplinary health industries practices, as well as an investment portfolio in new technologies, solutions and startups. He is a frequent speaker and writer on topics related to entrepreneurship and innovation, health IT, analytics, and the intersection of translational sciences and the business of health. He can be reached at firstname.lastname@example.org