Berkshire Hathaway, J. P. Morgan and Amazon are set to announce new health CEO
Berkshire Hathaway’s CEO Warren Buffer has recently revealed to CNBC that the trio are set to name its new Chief Executive for its joint healthcare venture to lower healthcare costs for employees.
The news of the partnership created shockwaves across the healthcare industry back in January. If successful, the trio’s new healthcare model could be rolled out across the US, where long-standing technical and multi-industry expertise in the development of new, customer-focused tech solutions will seek to enable improved, high quality and overall transparency, whilst reducing healthcare costs.
“The ballooning costs of healthcare act as a hungry tapeworm on the American economy,” Buffet has previously stated.
“Our group does not come to this problem with answers. But we also do not accept it as inevitable. Rather, we share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes,” he added.
- Fortune 500 startup Fortive Corporation acquires a Johnson & Johnson division for $2.8bn
- Great Ormond Street Hospital, London joins forces with Hyland Healthcare
- Apple launches its Health Records API to developers and researchers
Reaching an agreement with the chosen Chief Executive, Buffet commented: "It isn't like there's anybody out there that's connected with the system that thinks we've already arrived at nirvana, and they know how difficult the job will be to make major changes.
"Nobody disagreed with the mission, the importance of it or the feasibility. It’s going to take significant time. We've got the right person."
The company is set to face fierce opposition from companies across the healthcare space – from hospital providers, pharmaceutical operations and distribution networks, amongst others. However, the trio are renowned for innovating and disrupting traditional industries to the benefit of consumers, which will be mirrored in this space.
“Success is going to require talented experts, a beginner’s mind, and a long-term orientation,” reflected Buffet.
Shares in healthcare companies, from pharmaceutical, drug distribution and insurance, fell upon the announcement by up to 10% in some cases in January.
NHS care homes are better than private, report finds
A new survey has found that 60% of people with parents in NHS care homes believe the quality of care has improved, compared to just 49% of respondents with parents in private care facilities.
The survey was conducted by Kepler Vision Technologies, an AI-driven company formed at the University of Amsterdam. It was carried out among UK adults with parents over the age of 75.
Respondents cited more capable care staff and better monitoring systems as being the main reasons for improvement.
However those who do not have parents in assisted living facilities had a different viewpoint - in this case only 35% of respondents believe that NHS facilities are improving, compared to 32% who believe it is only improving in the private sector.
Only 18% of people whose parents live with them or independently believe care home staff are able to look after residents to a good standard.
Kepler Vision say this difference in opinion is due to perceived budget cuts and financial pressures, with 67% of people commenting that a lack of funding has had a negative effect on care in both NHS and private care facilities.
Other key findings of the survey include:
* Out of those who say quality has declined in care homes, 69% say the NHS is dealing with budget cuts and increased financial pressure, while 65% also said that the private system is dealing with these pressures too
* 55% said that they or their parent have money saved specifically to pay for their future care
* 35% said the idea of their parent in a care home makes them feel frightened, although 32% say it makes them feel secure
* 52% are worried about their parent catching COVID
* 47% are worried about their parent being lonely
* 46% are concerned they could fall over alone
The announcement of this research follows the UK government's decision to delay presenting its social care budget till the autumn.
Commenting on the research, Dr Harro Stokman, CEO of Kepler Vision Technologies said: “While it is good to see that people recognise the importance of staff and face-to-face interaction in elderly care, the huge gap in opinion between those with parents in care and those without shows that there are unfair negative perceptions around the residential care space.
"More can and should be done by care homes to give people the confidence that their relatives will receive the very best care - by highlighting the excellent work of staff and how well they are able to monitor resident’s needs with easy-to-use technology.”