Smart people from three very successful companies — Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B), and JPMorgan Chase (NYSE: JPM) — apparently couldn’t figure out how to make the U.S. healthcare system more efficient. The companies’ joint venture, Haven, is disbanding, according to a report by CNBC.
When they came together three years ago, Warren Buffett of Berkshire Hathaway, Jeff Bezos of Amazon, and Jamie Dimon of JPMorgan Chase were initially looking to reduce the healthcare costs for their employees. If Haven was successful, the undertone was that the entity could offer services that ring out inefficiencies in the system to other companies that eventually wanted to sign up. The plan was for Haven to not turn a profit, allowing most of the financial benefits to be passed along.