Tags: Financial Markets | Health Topics | Healthcare Reform | Money | jamie dimon | single payer | big pharma

Dimon: US Has 'Best' Healthcare System, 'Worst' Outcomes

jp morgan chase chief executive officer jamie dimon bows his head into his right hand as he thinks pensively
JPMorgan Chase CEO Jamie Dimon (J. Scott Applewhite/AP)

By    |   Wednesday, 23 January 2019 03:10 PM

Banker Jamie Dimon on Wednesday slammed American healthcare for having the "best system in the world" with the "worst outcomes."

In remarks to CNBC at the World Economic Forum in Davos, Switzerland, the J.P. Morgan CEO railed at how much the nation shells out for healthcare and how little is gained.

"With healthcare, we have the best in the world — doctors, hospitals, pharma, you name it — but we also have some of the worst outcomes," he told the business news outlet. "Obesity, wellness programs that could work better, the opioid problem, 40 million uninsured. So, you know, to me, you look at the whole issue and what should we do about it."

Dimon has teamed up with Warren Buffett of Berkshire Hathaway and Amazon CEO Jeff Bezos to form a joint venture to tackle costs and provide better services for their workers.

Leading the initiative is surgeon Dr. Atul Gawande, and in charge of "measurement" is Dana Gelb Safran, formerly a chief performance measurement and improvement officer at Blue Cross Blue Shield of Massachusetts, CNBC noted.

The group is focused on building its team and "looking at how to attack this problem," Dimon said, the outlet reported.

"It's a long-term view," he said. "We don't expect any announcement anytime soon. We will share if we come up with anything good, but we want to start small. Test a bunch of different things."

Healthcare spending represents nearly 18 percent of the U.S. gross domestic product — more than other developed nations — and an amount Dimon called unsustainable and an "impediment" for U.S. businesses dealing with foreign competitors.

"If you look at it as a competitive issue, that is a huge impediment to American business over the next 50 years," he said, CNBC reported.

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American healthcare is proffered under "best system in the world" with the "worst outcomes," according to JPMorgan Chase CEO Jamie Dimon to CNBC at the World Economic Forum in Davos, Switzerland.
jamie dimon, single payer, big pharma, health insurance
Wednesday, 23 January 2019 03:10 PM
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