Testimony gives insight on key aim of Amazon-Berkshire-JPMorgan venture

In a testimony unsealed Feb. 20, one of the core missions of the healthcare venture launched by Amazon, Berkshire Hathaway and JP Morgan Chase was revealed: It’s looking to redesign insurance, according to The Wall Street Journal.

The three companies announced their partnership in January 2018 with the goal of improving healthcare and lowering costs for their combined 1.2 million employees, but the company has released few specifics.

But testimony given by the healthcare venture’s COO, Jack Stoddard, reveals it’s focusing on how to “reinvent what insurance looks like in terms of benefit design.”

Mr. Stoddard said the partners will begin by testing ways to make primary care more accessible and treating chronic illnesses less expensively.

While the venture also is looking at pharmacy costs, it has no plans to compete with pharmacy benefit managers like Optum, Mr. Stoddard said…

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