Jamie Dimon set out how his new venture with Amazon and Berkshire Hathaway plans to tackle some of healthcare’s biggest problems

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April 5, 2018 3:45 PM

JPMorgan CEO Jamie Dimon thinks the US can do better when it comes to healthcare and spelled that out in his annual letter.

JPMorgan CEO Jamie Dimon thinks the US can do better when it comes to healthcare and
Dimon's teaming up with Amazon and Berkshire Hathaway to form an independent nonprofit venture to lower healthcare costs and improve the healthcare outcomes for their employees.

JPMorgan CEO Jamie Dimon thinks the US can do better when it comes to healthcare.

Specifically, Dimon wrote in his annual letter, that the US healthcare system can improve when it comes to treating chronic conditions that are preventable or reversible, spending less on administrative and fraud costs, and on getting better health outcomes for lower costs.

The failures of the healthcare system have wide-ranging impacts, according to Dimon, who said the real problem with the US deficit is the "uncontrolled growth of our entitlement programs," and that in turn "the core issue underpinning the entitlements problem is healthcare in the United States."

With that in mind, Dimon said there needs to be bipartisan group of experts focused on fixing healthcare.

"I am convinced that this can be done, and if done properly, it will actually improve the outcomes and satisfaction of all American citizens," he wrote in the letter.

To that end, in January, Dimon announced he's teaming up with Amazon and Berkshire Hathaway

"The effort will start very small, but there is much to do, and we are optimistic," Dimon said in the letter.

The details about the joint venture have been limited so far, but Dimon said the plan is to hire a management team for the venture that's focused on few broad healthcare topics. Those include:

Journal of the American Medical Association report
including city governments,

Dimon said he plans to report on the venture's progress "in the coming years."

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