Amazon’s Wellbeing venture Together with Berkshire and JPMorgan is Your ‘epitome of entrepreneurial spirit,’ says Accolade’s Raj Singh

Accolade CEO Raj Singh speaking at the 2018 GeekWire Summit.

(GeekWire Photo / Dan DeLong) Healthcare in the United States has more than a few problems. Prices are skyrocketing, chronic states are getting more common and wellness outcomes aren’t getting any easier. It’s easy to see why important companies would not be satisfied with the status quo. RELATED: Can Amazon fix health care? Experts provide a dose of reality on the tech giant’s wellness partnership Discussing on-stage at the 2018 GeekWire Summit, Singh stated Amazon, Berkshire and JPMorgan’s new wellness venture is a good example for those attempting to innovate into the health care system. “They’re actually setting an example, which I believe is massively important, that states:’It’s not good enough . And when public policy’s not going to fix it and the current ecosystem [is not ] going to fix it, we are doing it’ I really like that,” Singh said. “That will be the epitome of entrepreneurial spirit, supplied by three massive companies.” Singh said he doesn’t have any particular insight to the partnership and what they’re working on, but from what he can understand, he’s impressed by the approach. “Their vision is massive, which is why I really like it,” he said. “They’re looking at each part of it and saying: How can we line up incentives the perfect way?” The joint venture has an interesting spin on the U.S. healthcare problem because it stems from the needs of companies. The partnership, which will operate as an independent firm, will start by innovating options for the U.S. workers of Amazon, Berkshire and JPMorgan before it expands past that category.   That’s the epitome of entrepreneurial soul, flanked by three massive companies. Employers sit at an interesting place in the health care system. They cover insurance for more than half of the country, meaning raising costs hit companies hard. But they have little direct influence over the system itself. “That is the first major mega-trend that surely has an chance to modify the way things work.” Singh said employers want costs to return but they also want their workers to be happy and healthy. “The combination of those two things is the first time we have gotten close to aligning incentives. If we can align incentives and achieve workers… we’ve got an chance to move the needle,” Singh said. If they’re doing this a bang-up occupation, isn’t Singh concerned about them going into the area? “I had put it a different way,” he said. “We must go so fast, so difficult that they’re going to chase us say,’We want to do a deal with you men’ That has got to be our assignment. And when we don’t do that, shame on us”

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