How Amazon health will change your future

– Amazon, Berkshire
Hathaway, and JPMorgan Chase, – To form a health care company – The future model of
American health care, – Amazon. – Amazon. – Amazon. – [Narrator] In January of 2018,
Amazon made an announcement that sent shock waves through the entire health care industry. The company, along with Berkshire Hathaway and JPMorgan Chase, announced
that they would be partnering on a new venture with the
aim of improving health care for their employees, a workforce numbering nearly one million strong. Almost immediately, stocks of the major health care corporations
around the world plummeted in what is now a familiar
phenomenon that commentators are starting to refer
to as getting Amazoned. Now, to people who’ve been
watching Amazon closely over the past few decades, this
really came as no surprise. After all, Amazon’s
interest in health care can be traced as far back as the 1990s, with their acquisition of And Amazon has continued to show deep interest in health care. In late 2017, Amazon
made news after meeting with pharmaceutical
giants Mylan and Sandoz. For the better part of a
year now, the corporation has reportedly been funding
its own independent, stealth research tasked with exploring new technologies for health care. The most notorious of these
divisions was known internally simply as 1492, a reference
to Columbus’s arrival on what is now North America. And, in January of 2018,
less than two weeks before Amazon officially announced the new health care venture,
it capped off the latest of multiple high-profile
health care hires, recruiting Martin Levine, a doctor known for coordinating health care for complex elderly
patients throughout Seattle. But for all the news
surrounding the announcement, the actual press release itself was kind of sparse on details. It says that the three companies
are partnering to address health care, that their
solution will be free from profit-making incentives,
and that it will start with a focus on their own employees. All of which begs the question,
what is Amazon really up to? They may not have told us, but there are some
pretty big clues already. In the short term, the
most likely conclusion is that Amazon, with the financial backing of JPMorgan Chase, is making a move to develop its own health insurance. And, I should point out,
that it’s not uncommon for companies to fund
their own health insurance, something known as becoming self-insured. But here’s what’s different, traditionally companies
that are self-insured contract out the work
to third party services. But, partnering with Berkshire
Hathaway changes all of this. We know that Warren Buffett,
CEO of Berkshire Hathaway, has long been outspoken about the need to improve health care in the US, famously calling the industry a “hungry tapeworm on the American economy.” But, what many people don’t
know is that Berkshire Hathaway, a massive organization that
is the owner of companies ranging from Geico to Dairy Queen, is actually involved in
health insurance, too, by acting as reinsurers. That means that these are the
guys that provide insurance to health care insurance companies. So, if Amazon had any interest in forming its own health insurance company, let’s just say that Berkshire Hathaway would sure be able to help. And then there’s the question of shipping health care products. We already know that Amazon has been meeting with drug companies, and that it’s already formed
its own internal pharmacy team. And while it may be unlikely
that Amazon would get involved in actual pharmaceutical production any time in the near future,
it’s not hard to imagine a future where you could have
your prescriptions delivered in your next Amazon Prime purchase. After all, Amazon is a
logistics powerhouse, with facilities that are already larger than those of both UPS and FedEx. Not to mention an ever-growing fleet of thousands of trucks and jets, expansion into ocean freight, and even unmanned drone-based deliveries. Yes, this is actually a thing. This infrastructure could easily be leveraged for prescription drugs, too. But, if you think the
new Amazon announcement is all about insurance companies
and shipping prescriptions, you’re missing the point. And that’s because the new
announcement from Amazon is about reaching far into the future, and that means diving deeper into the world of artificial intelligence. This is something that
Amazon’s CEO, Jeff Bezos, has spoken about publicly. It’s hard not to imagine
Amazon Echo’s Alexa becoming more and more
involved in your health. After all, it’s already
proving useful as an aid for the visually impaired,
and it’s especially useful for people with dementia,
doing things like reminding them to take
their daily medications. But what if Alexa could
tell when you were sleeping and optimize your home to keep you asleep? And what if Alexa could
determine when you were having a stroke or a heart attack
and know to call an ambulance? And even better, what if Alexa could detect one of these
events before it happens and warn you with enough
time to intervene? Amazon is already making
huge steps in this direction by allowing developers
more and more freedom to integrate wearables
directly with Alexa. And with the massive computing power that Amazon can leverage, thanks to their Amazon web services, the servers that provide
nearly a third of the world’s cloud-based storage, Amazon
is in a unique position to revolutionize our health experience through artificial intelligence. Even with all of the
clues, there’s still a lot that we don’t know about Amazon and its entry into health care. But here’s what’s clear,
no matter what direction Amazon decides to move in health care, it’s going to be like the
rest of their ecosystem: obsessively focused and
tailored around the customer. – Guys, thank you so much for watching. I had a ton of fun making this video, and I’m gonna start making
more videos like this one. So, if you’re not subscribed
to my channel already, make sure to take a minute and click the subscribe button below. And also, I have a question for you. What do you think the Amazon announcement means for the future of health care? Let me know in the comment section below. And finally, a huge
thank you to the amazing tech journalists that
made this video possible. I’ve learned so much
from reading your work. For anyone that wants to
learn more about this topic or just stay up-to-date
with tech news in general, I’ve linked up a bunch of journalists in the credits section below. See you guys next time. (relaxed hip hop music)

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23 thoughts on “How Amazon health will change your future

  1. Great job as always David! You touched upon what I see Amazon leading the way- Voice Recognition like Alexa to take medicine forward for patients, healthcare teams, and allied fields.Alexa will be used to order, re-order prescriptions, ensure patient safety and compliance, be key in connecting and integrating health care teams and communities while saving everyone time. That’s my main takeaway and how I see them being a leader in that space as Google, Apple will also be there I think.

  2. AWESOME vid, David! As I watched it, I was definitely under the impression this was a professional YouTube vid. Way to go! What is truly exciting about this whole venture is that it is fair to assume that Amazon will do things RIGHT – their track record of excellence and high-quality customer service will change the game of healthcare and cause an uproar with current businesses that might be exploiting the market for gain! Which then will challenge others to either provide better services or drop out.

  3. This is an incredible video! I loved how you presented the information in a clear and easy-to-digest manner. One topic I would love to see a future video on, if possible, is the use of AI in a diagnostic capacity (ex: IBM's watson), and what that means for aspiring physicians and certain medical specialties. How will it affect job prospects?

  4. Wow what a fascinating video! This was so well made and easy to follow, great great great editing and visual elements. Excited to hear you will be doing more like this! Can't wait to see what you'll create next.

  5. I am all for technology in healthcare. I am 100% for getting cost down by elliminating over priced goods and services. However putting the greatest capitalist of all time, the richest man in the world at a recently est. 100 Billion net worth; Wouldn't it be problematic to put him in charge (monopoly) of our healthcare? This is a man who ran bookstores out of business by selling online AND paying no taxes. Only to NOW start opening brick and mortar store after running the competition out of business. How is this "Not for Profit" venture going to work? Who is going to insure it is not the "For Profit" system we have now only on Steroids. Hopefully steroids that are priced competitively of course

  6. Hello David,
    Im from Serbia, and I really like to watch your videos. Look, I, and others will be happy i thing, if you start to record your daily vlogs from hospital. I am in medical school, and I and others’d like to meet your job little better

    Wish you a luck 🤗

    P.S: Sorry for bad english

  7. Military Tribunals are on the way for massive Rico suits Globally for monopolies globally with american businesses

  8. so jeff sent you a prefab vid which you can customize and say "you had a lot of fun doin'it" and maybe…a cheque attached…Nah. with you having only a thousand subscribers and knowing his hipergreed I think he get away with a pair of discount coupons!

  9. Great possibilities -wish to learn more. I am worked as a leader in Healthcare for 30+ years. Now as a CV Service Line Director

  10. For some unfathomable reason, I have always had faith in Amazon, even in the dot com failure and other similar events. Their plains for future healthcare can only be better than we have now.

  11. I just subscribed this morning after seeing your first "day in the life" video. I see you've got a lot more very well-produced videos like this one. I'm looking forward to reviewing all of your videos in the days ahead.

  12. first – this is really greatly done! One thing though -self insured companies aren't just "common" – they are the biggest payers (in terms of full coverage) in healthcare: 100 million (including family) members (see . BUT these lucky people don't usually get sick since that is why they have nice jobs. I don't think this will be any direct thing unless insurance companies demand that the costs are directly incured on the specific claim. This is what I think will happen though and this means that it will be very very hard to deal with the uninsured and ACA because the government is slow to pay and like most companies the expenses are passed on to others. This becomes impossible and all the safety net and teaching hospitals (basically the same thing anyway) are done. Hopefully the economy will just be strong enough to keep things from getting worse… for a while. I hope America wakes up one day and decides healthcare really is not a business but since its the major employer now I don't see how it gets fixed until it has a financial panic or two or three

  13. What do you think about the idea of the future of AI in healthcare, specifically in technology that would “know” if a person is having a heart attack or stroke? I can see how alerting emergency services when there is a need for assistance would definitely be an advantage. However, I’m skeptical about the concept of taking the human thinking element out of it because of the potential for misdiagnosis or failure to recognize problems, perhaps providing people with a false sense of security. Do you think this is a good idea?

  14. I can't decide if Jeff Bezos wants to take over the world or if he truly wants to change things up in healthcare. I am hoping that he is trying to emulate some form of common wealth healthcare system but who knows.

    Also Dr. hindin love your videos! i'm a med student myself so i dont even know how you find the time to do these videos so well.

  15. do you know about Working Virtual Hospital that brings the hospital to patients homes. Curious your thoughts

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