Although Danville, Pa.-based Geisinger President and CEO David T. Feinberg, MD, declined a chance to become the chief executive of a healthcare venture launched by Amazon, Berkshire Hathaway and JPMorgan Chase, the possibility of someone like him running the company is bad for health insurers, according to Forbes contributor Bruce Jepsen.
Here are three highlights from the op-ed:
1. The fact Amazon, Berkshire Hathaway and JPMorgan saw Dr. Feinberg as a top pick to lead their company "is a signal employers are ready to take control of their own healthcare, perhaps without the help of health insurance companies," writes Mr. Jepsen.
2. He added considering someone with Dr. Feinberg's experience is a sign the large employers are tired of what they're receiving from pharmacy benefit managers and other organizations that manage healthcare.
"In Feinberg, they would've gotten a physician executive who knows well how to provide and pay for healthcare," Mr. Jepsen writes. "Geisinger is one of the few providers of medical care to successfully create its own health insurance plan. And that's something scores of hospitals and health systems have tried and failed or not done very well, losing money only to sell or disband the plans."
3. Augustin Ruta, a principal at A2 Strategy Group, told Mr. Jepsen the idea of someone like Dr. Feinberg running the venture may not be entirely bad news.
"In the near- to medium-term, this should not cause health insurers to hit the panic button. We shouldn't assume this means the JV will seek to deploy a Geisinger-like model throughout the United States, given the nuances and unique attributes of the areas in which Geisinger operates," according to the op-ed.
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