Haven: How Amazon, Berkshire Hathaway, and JPMorgan Chase Plan to Disrupt Health Care - Lessons for the Lodging and Hospitality Industry
Healthcare costs have ballooned over the past 50 years, with US health care costs taking up a 17.1 percent share of the US Gross Domestic Product (GDP). Today, Healthcare in the US is about a $3.4 Trillion industry. "Medical costs are the tapeworm of American economic competitiveness," says Warren Buffet, CEO of Berkshire Hathaway.1 In comparison, corporate taxes are only about 1.9 percent of the US GDP, and other developed countries such as Germany, Japan, and Britain share less than 12 percent of their GDP on healthcare.1 General Motors is a health and benefits company with an auto company attached (Buffet, W.).