Posts Tagged amazon

Amazon, Berkshire Hathaway and JPMorgan Venture into Health Care Industry

Amazon, Berkshire Hathaway and JPMorgan Venture into Health Care Industry

Three of the world’s leading companies — Amazon, Berkshire Hathaway and JPMorgan — are teaming up to take on the health care industry.

Amazon announced on Tuesday, Jan. 30, that it would be partnering with Berkshire Hathaway and JPMorgan on an initiative to create an independent health care company for its employees with the hopes of improving employee satisfaction and reducing costs, according to a release from Berkshire Hathaway.

The new independent company is said to be “free from profit-making incentives and constraints,” according to Berkshire Hathaway. “The initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent health care at a reasonable cost.”

The alliance was established as a result of the nation’s current health care system and the increasing costs of medical treatment. “The health care system is complex, and we enter into this challenge open-eyed about the degree of difficulty,” said Jeff Bezos, Amazon’s founder and chief executive. “Hard as it might be, reducing health care’s burden on the economy while improving outcomes for employees and their families would be worth the effort.”

While the companies have not explicitly detailed their plans, they have stated that they will be using technology to bring down health care costs for employees.

Even before Tuesday’s announcement, there have been signs that Amazon is preparing to enter the health care market. Earlier this month, the company posted a job for an “experienced HIPAA professional.” The company is also said to be exploring plans of entering into the pharmacy supply chain market as a drug distributor.

According to Mickey Chadna, vice president of Moody’s Investor Service, the new venture could create “further competitive pressure” for pharmacy giants like Walgreens and CVS. “In light of the announcement,” Chadna said, “the potential merger of CVS and Aetna is even more compelling as a more coordinated approach to medical care is necessary to lower the overall health care costs for consumers.”

Health care professionals and strategists are still inquiring about the potential of this plan. “Whether and how this initiative will benefit employees directly,” said Benjamin Gomes-Casseres, a professor of strategy at Brandeis University International Business School, “and whether solutions the company develops will scale and be a model that could be used by other employers remains uncertain.”

Posted in: Management

Leave a Comment (0) →

Everybody’s Got a Story with Steven Stokes, M.D.

Everybody’s Got a Story with Steven Stokes, M.D.

DOTHAN – Steven Stokes, M.D., grew up on a small farm in rural Alabama, which means he has lots of stories to tell about life in the country…with cows, the 4-H Club and football…all woven together with a closely knit family that seemed to get the better of him whether he liked it or not.

Dr. Stokes put pen to paper and wrote about his life on the farm, his time serving as a Marine in Vietnam, the misadventure of nearly missing his trip to the altar to wed his sweetheart, to the world’s worst medical school admission interview. His book, “Everybody’s Got a Story,” is available on Amazon, and all proceeds go to charity, which is something Dr. Stokes is also very serious about.

“I don’t really remember how I got so involved with Love In Action,” Dr. Stokes laughed. “I’ve been doing this for about five years now, and I remember it started with a phone call asking for help. That’s all it took for me.”

Although Love In Action Ministries is headquartered in Dothan, volunteers help residents in the Philippines, Myanmar, Haiti, and Pakistan. Dr. Stokes and three other physicians from the Houston County Medical Society signed on to help render aid every Thursday evening during the medical clinic hours.

“We’re all volunteers. We don’t get paid. I tell people that it’s a low return on investment. People get burned out when they volunteer. They think, ‘I just want to change the world. Well, you won’t. But occasionally you have some people that will turn their lives around. So then, you’re changing the world for those that you can help. You have to start somewhere,” Dr. Stokes said.

The largest population Love In Action aims to help are the homeless individuals that tend to get lost in the shuffle.

“The people we help are the homeless people who live under a bridge that barely have clothing and just don’t have access to the health care. We have a lot of migratory people here who will come through this area going south in the fall because winter’s coming, and in the spring they head back north. This is a high-transit area here, so we do what we can at Love In Action,” Dr. Stokes explained.

One saving grace for the charity has been the giving spirit of area nursing homes and physician practices and their willingness to donate supplies to further Love In Action’s mission, which extends beyond medical care. Area churches contribute to the charity for nondenominational services on the weekends and during the week the doors open for an opportunity to shower, change clothes and get a hot meal.

Dr. Stokes knows the community rather well. But, it was his interest in solving the community’s problems that called him to serve on the city commission for two terms and one term as chair of the school board.

“You never know what the long-term change is going to be. Change takes a while. I liked solving problems, and that’s how I got involved with government. Keeping our constituents happy wasn’t as easy,” Dr. Stokes laughed. “I’m glad doctors are serving more in their communities because they need to be involved in what happens around them.”

Gov. Kay Ivey recently reappointed Dr. Stokes to the Board of Trustees at the University of South Alabama School of Medicine, his alma mater, but he insists this will be his last term after serving for 24 years. “I’m getting too old, and I feel old,” he joked.

Dr. Stokes wrote in his book, “Many people pass through life and leave no tracks – nothing to bear witness to their passing. At best, they have a stone marker on their graves, or maybe a few kids who remember their names for one or two generations before oblivion.”

Dr. Stokes continues to make his mark on plenty of lives through his work with Love In Action in Dothan. If you would like to make a donation or to learn more, click here. However, if you’d like to find out what happened to his precious cow, Puddin’, you’ll have to buy his book. (All proceeds from book sales go to charity.)

Posted in: Physicians Giving Back

Leave a Comment (0) →