The healthcare industry has been bustling with mergers and acquisitions over the past few weeks. CVS paid a comfortable $69 billion for Aetna and breezed through the regulatory process with glowing colours. Amazon (in their pursuit for global dominance) has partnered with Warren Buffett, CEO of Berkshire Hathaway, and J.P. Morgan to use their resources, influence, and power to, in Buffett’s words, “tackle healthcare costs in our nation.” Buffet also stated that the U.S. is at a competitive disadvantage of $3.3 trillion annually due to the fact that 18% of our gross domestic product is exported. He believes the private sector is better equipped to manage healthcare than the government.
The supermarket chain Albertson’s is prepared to acquire the retail pharmacy behemoth Rite Aid. Now, the insurance colossus Cigna is acquiring Express Scripts in a transaction worth over $50 billion. Apple, the software colossus, is plunging its toes into employee health, while Wal-Mart, the retail behemoth, is beginning to agitate.
After that much information, you require a break. But will a disruption by these companies improve healthcare in the United States?
As a patient advocate and carer supporter, my primary concern is whether this will be beneficial for patients, carers, and their families. You recognise – the healthcare clients?
Although healthcare reform is long overdue, is the merger of behemoths the best course of action?
First, this healthcare consolidation will not be the last of its kind. I would wager on that being true. Microsoft, Walgreens, Google, or any of the Generals (Electric, Motors, Mills) have not yet responded. How do other insurers compare? Where does Humana or United Healthcare fit into this scenario?
Numerous businesses will follow suit. The only variable is time. I compare it to the most popular lady in high school dating the most popular gentleman and subsequently becoming a formidable force. Everyone will recognise the trend, its advantages, and its potential, and join it. Apologies for the high school comparison.
Everyone recognises that it is time for healthcare reform.
What are the benefits for patients/customers?
This must be questioned: Are these corporations in it for the billions of dollars that healthcare is worth, or do they truly seek to improve patient conditions, costs, and efficiency? Will the union of these titans extend beyond their employees to meet the needs of all patients in our country? What is their motivation?
My mission is to empower patients and carers to confidently and accurately navigate healthcare, thereby saving them and all parties time, money, and frustration. I demonstrate to them that they have rights and responsibilities in their healthcare journey, and that they must play an active and robust role in their care. Patients are the healthcare system’s sustenance.
Without patient and customer support, none of these colossal combinations will succeed. So that patients feel supported and empowered, they should present all of their objectives in an attractive and useful product. If these corporations can demonstrate how the patient will be aided and how their alliances will save money for all parties, they should have no difficulty navigating the regulatory processes they must navigate.
However, I implore all of you titans to DO SOMETHING.
Do something for the 64 percent of Americans who evade health care due to cost concerns.
Do something for the working poor who earn too much for Medicaid but not enough to afford the rising cost of health insurance.
Do something to demonstrate that healthcare can be affordable and that service prices need not be excessive.
Do something to empower patients and establish genuine cost transparency in healthcare.
Demonstrate that actual care and system processes do not have to be as complex or time-consuming as they are currently by taking action to improve them.
You behemoths have the ability to improve healthcare in the foreseeable future and
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