Amazon-Berkshire-JPMorgan healthcare venture is struggling to find a CEO

It has been nearly four months since Amazon, Berkshire Hathaway and JPMorgan Chase announced their new healthcare initiative aimed at cutting healthcare costs for their employees, but the group has encountered challenges securing a CEO, according to CNBC.

Here are five things to know about the group's CEO search.

1. ABC, as the group is known, began its CEO search in late January. The shortlist of CEO candidates initially included three names from different areas of the healthcare industry: former CMS Acting Administrator Andy Slavitt, former U.S. Chief Technology Officer and co-founder of Castlight Health Todd Park, and former Aetna executive Gary Loveman.

2. The healthcare venture recently began looking for a candidate with an entrepreneurial background in technology who isn't connected to drug supply companies or health plans, sources told CNBC.

3. Owen Tripp, CEO of Grand Rounds Health, a startup that sells a second medical opinion service as a benefit to large employers, is one of the top names to emerge in recent weeks to serve as ABC's CEO. However, Mr. Tripp told CNBC he's committed to remaining CEO of Grand Rounds.

4. Berkshire investment manager Todd Combs is reportedly spending 40 hours per week on the CEO search. The challenge is finding a person who can help develop innovative healthcare solutions while working across three companies with 1.2 million total employees, according to CNBC.

5. During Berkshire Hathaway's annual shareholder meeting in early May, CEO Warren Buffet said ABC could have its CEO within a few months. Mr. Buffet said getting a "great" CEO in place is the first major step to launching the healthcare venture.

More articles on leadership and management:

2 senators threaten to subpoena CMS' Seema Verma
Penrose-St. Francis Health Services lays off 42 employees
8 thoughts on business development and growth

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars