Amazon, Berkshire Hathaway, and JP Morgan Chase have agreed to jointly create an independent company aimed at reducing medical costs for their over 1 million employees, but it appears that they may overlook easy proven tactics for achieving this goal, says public interest law professor John Banzhaf, who has saved billions of dollars in medical costs.
A spokesman says they plan to bring technology tools to bear on making health care more transparent, affordable, and simple, but only using technology to tinker around the edges, and making care for diseases somewhat less expensive, will ignore the major underlying problem, says Banzhaf.
Even using technology to lower the cost of treating major medical conditions such as heart attacks, cancer, strokes, diabetes, etc. cannot overcome the simple undeniable fact that treating these and other very serious diseases will always be expensive, and that it is much more effective for companies to prevent these diseases from occurring n the first place rather than simply improving the treatment for them once they occur.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More