Haven, the joint venture of three of America’s most powerful health care companies to cut costs and improve outcomes, breaks up after three years, CNBC has learned exclusively.
The company began notifying employees on Monday that it would close by the end of next month, according to people with direct knowledge of the matter.
Many of the Boston-based company’s 57 employees are expected to be hired at Amazon, Berkshire Hathaway, or JPMorgan Chase as the companies advance their efforts one at a time, and the three companies are expected to continue to informally contribute Collaborate on health projects. said the people.
Announcing three years ago that the CEOs of Amazon, Berkshire Hathaway and JPMorgan Chase have teamed up to address one of the American company’s biggest problems. high and rising health care costs for employees? sent shock waves across the medical world. Health care company stocks fell on fears that the combined power of technology and financial leaders could pull costs out of the system.
The move to Shutter Haven could be a sign of how difficult it is to radically improve American health care, a complicated and ingrained system of doctors, insurers, drug makers, and middle men that is costing the country $ 3. 5 trillion a year. Last year, Berkshire CEO Warren Buffett seemed to make that clear. This is not a guarantee that Haven can improve health care.
A key problem for Haven was that while each of the three founding companies was coming up with ideas, they were running their own projects separately with their own employees, so according to the population, no joint venture was initially required. who refused to be identified for discussing the matter.
Just three years after the initial onslaught of fanfare over the opportunities Haven could achieve, its closure is a disappointment to some. However, insiders claim that it will allow the founding companies to implement ideas from the project themselves and tailor it to the specific needs of their employees, who mainly focus on different cities.
The move takes place after the CEO of Haven, Dr. . Atul Gawande stepped down from the running of the nonprofit company in May, triggering a search for his successor.
Brooke Thurston, a spokeswoman for Haven, confirmed the company’s plans to shut down and made the following statement:
« The Haven team has made good progress researching a wide range of healthcare solutions and exploring new ways to facilitate access to primary care, make insurance benefits easier to understand and use, and make prescription drugs more affordable, » said Thurston said in an email.
« Going forward, Amazon, Berkshire Hathaway and JPMorgan Chase have & Co. . will leverage these insights and continue to work informally together to develop programs that are tailored to the specific needs of our individual workforce and locations, « she said.
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Healthcare, JPMorgan Chase, Amazon. com, Berkshire Hathaway
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