A Game-Changer Or ‘Corporate PR’? Billionaires’ Health Initiative Draws Skepticism, Curiosity

The New York Times: Amazon, Berkshire Hathaway And JPMorgan Team Up To Try To Disrupt Health Care
Three corporate behemoths — Amazon, Berkshire Hathaway and JPMorgan Chase — announced on Tuesday that they would form an independent health care company for their employees in the United States. The alliance was a sign of just how frustrated American businesses are with the state of the nation’s health care system and the rapidly spiraling cost of medical treatment. It also caused further turmoil in an industry reeling from attempts by new players to attack a notoriously inefficient, intractable web of doctors, hospitals, insurers and pharmaceutical companies. (Wingfield, Thomas and Abelson, 1/30)

The Wall Street Journal: Amazon, Berkshire Hathaway, JPMorgan Join Forces To Pare Health-Care Costs
“The ballooning costs of health care act as a hungry tapeworm on the American economy,” Berkshire Chief Executive Warren Buffett said in prepared remarks. “Our group does not come to this problem with answers. But we also do not accept it as inevitable. ”The new company will focus on technological solutions that can provide simplified and transparent health care for the three companies’ U.S. employees at a lower cost. (Lombardo, Stevens and Friedman, 1/30)

Los Angeles Times: Amazon, JPMorgan And Berkshire Hathaway Team Up To Lower Healthcare Costs For Their Workers — And Maybe Everyone
Although the companies said their focus mainly would be on providing improved healthcare for their own U.S. workers, which total nearly 1 million, the move immediately triggered speculation that any solutions they develop could spread throughout the industry. (Peltz, Puzzanghera and Levey, 1/30)

Stat: Amazon Pleges To 'Disrupt' The Health Care Industry. Experts Doubt It
When news broke Tuesday morning that Amazon, Berkshire Hathaway, and JPMorgan Chase are forming an independent health care company for their employees, headlines hailed the idea as a way to “disrupt” health care. ...But many health care experts were far more skeptical — noting both the near-total absence of details in the announcement and the fact that the history of the health care industry is littered with examples of players who have pledged to disrupt the field but ultimately failed. (Thielking, 1/30)

Politico: Amazon's New Health Care Business Could Shake Up Industry After Others Have Failed
Skepticism appears warranted, however, about the prospects for Amazon and its new partners achieving significant changes in a sector that’s proven largely impervious to major reform efforts over decades. “We’ve seen these deals before,” said Sam Glick, a partner in the health and life sciences division at Oliver Wyman. He cited Walmart and Intel as two companies that have sought to provide health care for employees while cutting out the insurance middleman. “It’s not news that jumbo employers are frustrated with escalating costs and lousy experiences in the health care system.” (Demko, 1/30)

Kaiser Health News: Expert Advice For The Corporate Titans Taking On Health Care
[So] what does all of this mean and how can it be successful when so many other initiatives have fallen short? KHN asked a variety of health policy experts their thoughts on this venture, and what advice they would offer these CEOs as they go forward. Some of the advice has been edited for clarity and length. (1/31)

Bloomberg: Buffett-Bezos Health Plan Will Hinge On Buying Power, Technology 
Prices for prescription drugs, which move through a complex chain of pharmacy-benefit managers and wholesalers before reaching patients, are especially hard to understand. Even big employers often have to travel to secure rooms in the offices of pharmacy-benefit managers to learn the secret discounts they are getting on brand-name medications. The new joint venture could make pricing information more accessible--and drive down profit margins for drug-plan managers such as Express Scripts Holding Co. and CVS Health Corp., and wholesalers including AmerisourceBergen Corp. and McKesson Corp. (Langreth and Tracer, 1/30)

Bloomberg: Amazon Health-Care Move May Be Next ‘Home Run’ Like Cloud Services
Amazon.com Inc.’s foray into health care won’t be the first time it has disrupted an entire industry by starting with an effort inside the company. Amazon Chief Executive Officer Jeff Bezos is teaming up with fellow billionaires Warren Buffett and Jamie Dimon to revamp health care for the 2.4 million workers and dependents of the companies they run. The move fostered widespread speculation the trio will eventually make their approach to medical care available to companies far and wide. (Soper, 1/31)

Bloomberg: Who Could Lead A New Health-Care Company For Three Billionaires? 
Wanted: Chief executive for health-care startup. Must be able to reinvent an industry, reduce spiraling costs and improve care for one million people -- and possibly the entire nation. Reply to: Three billionaires. Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. are teaming up to try to solve the seemingly insurmountable mess that’s the U.S. health-care system. Their venture raises a crucial question of who could run such an enterprise. (Melin and Abelson, 1/30)

The New York Times: ‘Dr. Alexa, I’ve Been Sneezing And My Throat Is Sore’
The fledgling plan from Amazon, Berkshire Hathaway and JPMorgan Chase to create an independent health care system for their American employees is just as bare-bones as it is bold. The companies, all titans in their respective industries, gave few details Tuesday when they announced the joint effort. The group said its strategy will focus first on technology as a way to provide simplified, affordable access to medical services. (Hsu, 1/30)

The New York Times: How Amazon Rattles Other Companies
Amazon’s ambitions have few limits, and the mere specter of its entry into a particular industry can shape markets. When the company has appeared interested in expanding into a new business, it has spooked investors in potential competitors, leading to large sell-offs. (Russell and Wingfield, 1/30)

The Wall Street Journal: Health Care ‘Tapeworm’ Faces New Threat
Tuesday’s health-care stock jolt might not last for long, but the reckoning that the industry has feared is starting to seem a little less hazy. Amazon.com, Berkshire Hathaway, and JPMorgan Chase plan to start their own nonprofit company in a bid to reduce health-care spending for their hundreds of thousands of U.S. employees. Express Scripts Holding, CVS Health and UnitedHealth Group fell sharply on Tuesday before rebounding. (Grant, 1/30)

Nashville Tennessean: How Does An Amazon, Berkshire Hathaway Healthcare Focus Impact Nashville?
As Amazon, Berkshire Hathaway and JPMorgan Chase announced they would together seek to tackle the high-cost health care industry for their employees, the Nashville health care community reacted with intrigue. While the three global companies did not specify what their independent company will do in the health care space, their track records were enough to move markets on Tuesday. UnitedHealth Group, Aetna, Anthem and CVS Health Corp. shares fell by more than 3 percent. (McGee, 1/30)

Modern Healthcare: Amazon, JPMorgan And Berkshire Hathaway Unveil New Company In Bid To Lower Healthcare Costs 
Amazon, Berkshire Hathaway and JPMorgan Chase are teaming up to form a healthcare company to serve their U.S. workers in yet another example of large employers taking employee healthcare matters into their own hands to reduce costs. Details on the new venture were sparse, but the companies said early Tuesday that they will leverage their combined scale and expertise to develop technology solutions to provide employees and their families "simplified, high-quality and transparent healthcare at a reasonable cost." (Kacik and Livingston, 1/30)