J.P. Morgan Chase’s CEO Jamie Dimon reminded everybody that the old adage of “good things take time” still rings true, especially when discussing his joint partnership with Jeff Bezos and Warren Buffett to improve health care for employees. Dimon told CNBC that the plan to revamp health care will be taken with a long-term view in mind, using his partner Bezos and Amazon as a prime example.
“This is an absolute critical issue and all of us have a long-term view and we’ve been through the amount of money spent on fraud, administration, end-of-life, the misuse of drugs,” Dimon told CNBC. “I’ll remind people that Jeff Bezos, when he started Amazon, he might have had visions about the ‘everything store,’ but he started with books. And he spent 10 years getting books right.”
Related: Jamie Dimon’s Shareholder Letter Offers Insight to Growth
The partnership took its first major step forward when it selected famed surgeon and author Atul Gawande lead the joint venture a month ago. One of Gawande’s first plans of action include meeting with companies throughout the nation to assess the difficulty in obtaining health care.
The listening tour will put Gawande in the eye of the storm to better understand how to lower costs and improve care for a diverse group of 1.2 million people struggling with rising health expenses.
“We think together we have the right people, a long-term view, we’re not profit-seeking, and that we can do what we’re doing a lot better,” said Dimon. We don’t expect progress in the immediate future – like a year or two – but if we come up with some great stuff, we’re going to share it with everybody.”
For more market trends, visit ETFTrends.com.