Affordable healthcare has been a constant challenge for policymakers, especially since modifications have been made to the Affordable Healthcare Act by the current administration. Now Amazon, Berkshire Hathaway, and JPMorgan Chase are stepping onto the playing field. The three companies are partnering together to create an independent non-profit healthcare company that could offer reduced costs and help Amazon enter a new market. While the plan is still in its early stages, it holds the potential to change the industry in America as we know it.
This premise isn’t necessarily new: Walmart already created a “Healthcare Begins Here” program to make it more accessible. But while Walmart presented solutions within the current system, Amazon is looking to disrupt it entirely. Vivaldo CEO and Founder Erich Joachimsthaler spoke to Retail Dive about the implications of Amazon’s move: “The train for Walmart in healthcare has pretty much left the station. Amazon stands for convenience. Walmart stands for everyday low prices. The competitive advantage in healthcare and value to consumers lies in applying technology to make healthcare more accessible. It will also reduce costs, but healthcare is not a lowest cost product. Would you go to the cheapest dentist? Or the cheapest therapist in town?”