Haven, an Amazon-Berkshire-JPMorgan project to disrupt healthcare, breaks up 3 years later

Jeff Bezos, Warren Buffett, and Jimmy Damon.

CNBC

HavenCNBC has learned exclusively, that the joint venture formed by three of the most powerful US companies to cut costs and improve outcomes in healthcare is dissolving after three years.

The company began informing employees on Monday that it will be shutting down by the end of next month, according to people with direct knowledge of the matter.

Many of the company’s 57 workers are expected to be hired at Amazon, Berkshire Hathaway, or GBMorgan Chase, as each company goes ahead with its efforts, and the three companies are still expected to informally collaborate on healthcare projects. .

The Advertising Three years ago, the chief executives of Amazon, Berkshire Hathaway and JPMorgan Chase teamed up to address one of the biggest problems facing American companies – soaring employee health care costs – that was sent. Shock waves Throughout the world of medicine. Healthcare stocks tumbled amid concerns about how the combined power of leaders in technology and finance could squeeze costs out of the system.

The move to shut down Haven may be a sign of how difficult it is to radically improve American healthcare, a complex and entrenched system of doctors, insurance companies, drugmakers and brokers that is costing the country $ 3.5 trillion every year. Last year, Berkshire CEO Warren Buffett It seems that Indicate Equally, saying this was no guarantee of Haven’s success in improving healthcare.

One of the major issues that Haven faced was that while the company came up with the ideas, each of the three founding companies executed their own projects separately with their employees, obviating the need to start the joint venture, according to people who turned it down. Learn to talk about this issue.

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Only three years after the initial rush of fanfare over the possibilities for what Haven could achieve, its shutdown is a disappointment to some. But the insiders claim that it will allow the founding companies to implement the ideas from the project on their own, adapting them to the specific needs of their employees, who are mostly concentrated in different cities.

The move comes after Dr Atul Guande, CEO of Haven Step aside From the day-to-day running of the nonprofit in May, a change that sparked the search for his successor.

Haven spokeswoman Brooke Thurston confirmed the company’s plans to close and made this statement:

The Haven team has made good progress in exploring a wide range of healthcare solutions, as well as trying new ways to make primary care easier to access, insurance benefits that are simpler to understand, easier to use, and affordable prescription medications, ”Thurston said in an email.

“Going forward, Amazon, Berkshire Hathaway, JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs designed to meet the specific needs of our employees and their locations,” she said.

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