PHILADELPHIA (CBS) — This past week, three of the best known CEO’s in the country announced that their companies, Amazon, Berkshire Hathaway, and JPMorgan Chase, would form an independent health care company for their workers.
Their alliance shows how frustrated people are with the high cost of health care, according to Robert Field, a professor of Law and Public Health at Drexel University.
“And to bring that disrupting ethos and the resources behind it to this project, holds a lot of potential to make changes that we haven’t been able to do so far,” he said.
Professor Field says the health care industry may go through the same pain book stores did 20 years ago, with big changes afoot.
“They don’t know whether there will be Kindles out there, online publications, cellphones, and all of the rest,” he said.
Field says Amazon’s Jeff Bezos, Berkshire’s Warren Buffett, and J.P.Morgan’s Jamie Dimon are CEO’s “who have a vision about how to improve the country, not just add to shareholder value, although what they want to do might ultimately help their companies.”
“They have the means and drive to really do something that hasn’t been done before,” he said.
As superinvestor Buffett put it, “the ballooning costs of health care act as a hungry tapeworm on the American economy.”