The new Health IT Company would give people greater transparency and more control over their healthcare in order to drive down costs and improve satisfaction.

The universal online store Amazon has revealed that it is joining hands with the American investor, business magnate and philanthropist Warren Buffet, who also heads Berkshire Hathaway, and the well-known bank JPMorgan Chase in order to develop an independent healthcare company that will be a non-profit and have a goal of reducing costs and boosting user satisfaction.

The partners announced that the initial order of business will be focusing on technology software and solutions. Such services will provide U.S. employees along with their families, high-quality, transparent and simplified healthcare at a very reasonable cost. They plan to take a fresh approach by drawing on their combined resources and capabilities.

Warren Buffett was reported to be saying, “The ballooning costs of healthcare act as a hungry tapeworm on the American economy. Our group does not come to this problem with answers. But we also do not accept it as inevitable.”

Amazon CEO Jeff Bezos said that all the partners were entering into this massive challenge knowing well that it will be really difficult.

Bezos said, “Hard as it might be, reducing healthcare’s burden on the economy while improving outcomes for employees and their families would be worth the effort. Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”

JPMorgan Chase CEO Jamie Dimon expressed his views on the new Health IT solution saying that people desperately want more control and vivid transparency over their own healthcare. He said that the partners were aiming to work towards just that for their own employees initially. Once the plan is successful, it will then be offered to all Americans, potentially.

Experts believe that it will be a great move if such a service was to enter the market. It will surely help the US citizens and offer ease to the sick. Some people are wondering whether US President Donald Trump will finally take some concrete steps to improve the healthcare of US citizens after the launch of these services. Until now, Trump administration has failed to repeal or even replace Obamacare. That’s another promise that remains unfulfilled from the Trump electoral campaign.