In January 2018, the Internet Giant – Amazon, the company led by Warren Buffet- Berkshire Hathaway and the Biggest Bank in America – JP Morgan Chase announced a project to provide better healthcare access to its employees – HAVEN. They identified access to healthcare as a leading cause of concern for many people. They being some of the largest employers in the US thought they’d initially implement it across their organizations and later provide it to the public en masse.
For Amazon, healthcare was one industry which it hadn’t been much involved with, but there were much speculations that Bezos would eventually spend billions there and would cause a rejig of the industry. But entering with Berkshire and JP Morgan, ? What could go wrong? Their announcement in Jan 2018 pulled down the stocks of major health insurance companies. Everyone hoped for disruption in the space. But nothing happened.
To begin with, the 3 companies were in different industries and had all types of job positions. It was difficult to implement the same agreed upon plan across the employees of all the 3 companies. Moreover, Berkshire had a wide variety of systems across the companies it owned regarding healthcare which made it difficult to implement new plans across the board. And JP Morgan had its own systems which posed a difficulty to implement the plans which would suit Amazon and Berkshire Hathaway.
The move to close had been lurking since May, after Haven’s CEO, Dr. Atul Gawande, stepped down as CEO and Haven started a search for his successor, though it couldn’t find one! The about 60 employees of Haven would be allocated between the 3 companies.
“We’ll collaborate less formally going forward as we each work to design programs tailored to specific needs of our individual employee populations and local markets,”
“Haven worked best as an incubator of ideas, a place to pilot, test and learn — and a way to share best practices across our companies,”Jamie Dimon(CEO, JP Morgan); NY Times