By Forbes Technology Council | Elite CIOs, CTOs & execs offer firsthand insights on tech & business. Post written by Gunjan Bhardwaj Dr. Gunjan Bhardwaj is Co-Founder and Chief Executive of Innoplexus AG.
In December 2017, Amazon, JPMorgan Chase and Berkshire Hathaway announced the formation of a new healthcare company which would use technology to provide high-quality healthcare to patients and families more simply, and at a more reasonable cost. This move and rumors of entry into pharmaceutical distribution shook up stock prices for more established healthcare companies and pharmacy chains. Amazon’s entry into healthcare is intriguing because medicine is ripe for disruption. In 2016, U.S. per-person healthcare expenses were $10,348, more than double that of other first-world countries that offer universal health coverage ($4,752 in Canada, $4,600 in France, $4,708 in Australia, and $4,192 in the UK). Despite these costs, U.S. medical care is not altogether accurate or safe; medical errors kill more Americans annually than AIDS and motor vehicle incidents. Yet somehow modern medicine has escaped large-scale reform from automation and systems engineering.
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