JPMorgan, Amazon, and Berkshire Hathaway have a name for their joint healthcare venture

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JPMorgan, Amazon, and Berkshire Hathaway have a name for their joint healthcare venture

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Jenny Cheng/Business Insider

Warren Buffett, Jamie Dimon, and Jeff Bezos are among the CEOs thinking of new ways to curb healthcare costs.

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  • JPMorgan, Berkshire Hathaway, and Amazon officially have a name for their joint health venture: Haven.
  • The venture is led by Dr. Atul Gawande, who was hired in June 2018.
  • "We want to change the way people experience health care so that it is simpler, better, and lower cost," Gawande said in a statement. "We'll start small, learn from the experience of patients, and continue to expand to meet their needs."

The joint health venture between Amazon, Berkshire Hathaway, and JPMorgan officially has a name.

The venture will be called Haven, and it'll be in charge of finding ways to lower the cost of healthcare for the three companies' employees, while improving the quality.

"We want to change the way people experience health care so that it is simpler, better, and lower cost," Haven CEO Dr. Atul Gawande said in a statement Wednesday. "We'll start small, learn from the experience of patients, and continue to expand to meet their needs."

Read more: A top executive at Amazon, Berkshire Hathaway, and JPMorgan's health venture reveals the 6 biggest problems with US healthcare

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In January 2018, the three companies said they would create a healthcare joint venture that's aimed at lowering healthcare costs for the companies' employees. At the time, news of the partnership sent healthcare stocks plummeting, especially health insurers and members of the pharmaceutical supply chain that might be impacted by the three business giants getting into their lines of work.

The three employers oversee healthcare for about 1 million people, and spend $4 billion a year on it. When they joined forces, they said that the venture would be aimed at lowering healthcare costs and improving care for their workers.

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