Biz titans tap Boston doctor
Hub nonprofit aims to reshape health care
A new health care company backed by a band of billionaires with the lofty goal of transforming health care for employers has tapped a renowned local doctor as CEO, but it is unclear how the company will approach a problem that has vexed many over the years.
Dr. Atul Gawande, a Brigham and Women’s doctor and the newly named CEO of the unnamed company, said,
“I have the backing of these remarkable organizations to pursue this mission with even greater impact for more than a million people, and in doing so incubate better models of care for all. This work will take time but must be done. The system is broken, and better is possible.”
Gawande will lead a new venture, funded by Amazon, Warren Buffett’s Berkshire Hathaway and JPMorgan Chase, based in Boston. The company will focus on improving health care choices, quality and access, mostly through technology-centered approach. Details on specific approaches and products are sparse, but in a recent letter to investors JPMorgan chief executive Jamie Dimon said the new company would use big data and virtual technology.
The company will also be “free from profit-making incentives,” according to a statement. Tools and software will be first used to improve health care for employees of the three companies, but some parts could eventually be given away.
“As employers and as leaders, addressing healthcare is one of the most important things we can do for our employees and their families, as well as for the communities where we all work and live,” said Dimon. “Together, we have the talent and resources to make things better, and it is our responsibility to do so.”
Gawande is a widely respected doctor, researcher and writer who has focused much of his time on improving health care. His developments have included a series of checklists for different medical treatments, meant to reduce mistakes and unnecessary treatments.
Health care experts said they were excited the Hub will host a company that could create major industry changes.
Jim Roosevelt, an attorney with Verrill Dana and the former chief executive of Tufts Health Plan, said the billionaires’ plans are unclear, but the company appears set to make significant changes.
“I think there is the potential, with that kind of backing and that kind of leadership from Atul, to come up with ideas that really make a difference in the access to health care and the affordability of health care,” Roosevelt said. “We don’t know yet what they have in mind. All we know so far is they have big general goals and they have chosen an outstanding leader.”
Richard Gregg, director of programs for Healthcare Administration at Suffolk University, said, “It’s a huge win for Boston. I’m very excited about this. It draws more attention to Boston — that’s a major benefit. It further solidifies our reputation as a worldwide leader in health care development. This is going to be a real learning laboratory in a relatively controlled environment. These three companies have the resources to do the work and investigate best practices.”