Billionaire bros Bezos, Buffett become bonkers bio brokers: Swap W in AWS for H for healthcare

Re: America Fuck Yeah

They have said this would be not for profit, but if it reduces health insurance costs for their companies then it would certainly help their profits.

Between their employees and their families they must have a couple million people they could insure. That's already large enough to make it viable, but I could see other large employers jumping on board, it could quickly balloon to 10's of millions.

Re: America Fuck Yeah

"Nope, remember these 'founders' are capitalists. I doubt they'd be in it if they didn't think they could turn a tidy profit."

Maybe they just bought a load of healthcare shares after their announcement and will, in 6 months or so, decide their venture into the healthcare arena was a mistake, then sell off those share on the uptick.

Profit!

If only they had influence with a number of Big Pharmacy companies to get them discounts for nationwide-grade bulk-buying, an efficient distribution network, and the tech to make this function properly.

Oh, wait!

Come on Bezos, show them how it's done!

Yeah, youve fallen for hte big bad drug makers story.

3/4 of healthcare cost is on salary.

The bulk of drugs used, day to day, are either cheap or their are generics available.

The only reason why a (merkin) Dr prescribes Get-WellO-Quix! pill is tha the sales rep is taking Dr out to golf at Vegas.

"Once they are out of the picture they can then negotiate drug prices on a massive scale. When both the health insurance companies and drug companies lose their ability to bribe politicians then something can be done."

You'd almost think that was possible too, then you look at the NHS in the UK and realise they just pay whatever they are asked for.

Speaking as a Canadian who's had healthcare (both surgical and non-surgical) in the US, the healthcare experience in the US is stellar - especially when compared to Canada.

Lower wait times, X-ray machines that are brought to your bed, actually friendly and caring nursing staff - I could go on and on.

In my experience, it's how the funding is handled - and it's supposedly not cheap.

I had insurance each time - so I didn't pay anything out of pocket. However, until my insurance provider got off their collective arses, I was getting bills and notices to pay up or else.

This is all anecdotal experience

The care, if you get it, is the best in the world

The problem is that you as "the consumer" are responsible for everything.

Visit the same doctor for the 3rd follow up for the same problem? Did you check that they, the lab they used for tests, the hospital they referred you to are are all still covered in your plan (they might have switched yesterday) if not, you pay.

Did a doctor not in your plan happen to look at your x-rays alongside your doctor? You pay.

Get any of these wrong on a major surgery and you are bankrupt.

Then there is the massive billing inefficiencies, it's like the worst car insurance + worst mobile phone + worst cable company billing depts are mixed together.

Expect to get final demands for bills for $10Ks that are already paid by the insurance, then bills for $0 then demands for -$10Ks for years following any visit. Expect to spend hours on the phone trying to correct this

Re: The health care industry is right to be terrified

Agreed, but assuming that by squeezing the profit motive out of their insurance company they are able to provide better health care at lower cost than the for-profit competition, the whole thing will snowball. Employers will want to switch to them to save money, and employees will want to switch for better care, and they'll eventually drive the for-profit insurance companies off the market.

At that point they'll dominate the insurance landscape, and can begin forcing change on the rest of the industry. Also, once they administer almost all employer paid insurance they could take on individuals without much regard to their health status. Maybe this can be a route to single payer health care in the US, started not by the government but by "free enterprise" (in quotes because no doubt some will try to call it anti-capitalist because of its non-profit status and the fact that if successful it'll run all the for-profit insurance companies out of business, and no doubt cause major changes in the amount of profit for-profit hospitals and drug companies are able to make)

So it could potentially fix the "you need a job with an employer who offers insurance" to get insurance at an affordable (non-subsidized) cost problem, but it is way to early to know. Certainly a better chance than sticking with Obamacare as is, or the republican plan which is basically "let's go back to the good old days of 2008". Nice to see a gang of liberals give the finger to the health care industry and their bought and paid for congressional lackeys, hopefully it will eventually destroy the current health care landscape and replace it with something better.

Re: Why is it the govs job?

Is fire and police - or should they be privatised.

It might be cheaper to pay my local Italian American Family Business for protection rather than pay for a police force that don't do anything to stop me being robbed.

Yeah youve got a point. What about those peoples with big bones...

Have you seen how much the NHS spends on type2 diabetes? Then when they lazy arse carries on, having to remove one or more leg?

The US is even worse - look at the MediCare spend on poor fatties.

The increase in premiums is to cover extra cost *AND* provide an incentive to lose wieght.