Numerous Silicon Valley giants are moving to disrupt the American healthcare industry. Massive inefficiencies and rising costs have created a unique opportunity for the tech giants to undercut health mainstays and change the industry for good.
Amazon is planning to partner with JPMorgan Chase and Warren Buffett, though the purpose and details of the collaboration is unclear. Meanwhile, Apple is preparing to open a line of medical clinics throughout California, and Google is planning to jump into the Medicaid market, beginning in Rhode Island. Uber has set its sights on ambulances, offering those in need a more expensive and on-demand service to get to the care they need.
Observers have noted that none of these major tech players are directly competing with one another in their new healthcare ventures. Many are focusing on reducing costs for their own employees alone. What they all have in common is the enormity of their challenge. The American healthcare industry is a complex and bloated sector, with as many obstacles as there are paths to profit. Silicon Valley’s track record for disrupting and revolutionizing outdated industries is impressive, but the sheer size of healthcare (upwards of $3 trillion) could finally overwhelm the notorious disruptors.