Castlight Vigour works with dozens of large employers, including Amazon, to plagiarize workers navigate their health benefits with its online vehicles.
So it would make sense that its CEO John Doyle would be a key resource for Amazon and its spouses, Berkshire Hathaway and JPMorgan Chase, in their plan to curb employees’ escalating health care costs, in part with new technology.
But Doyle was objective as surprised at the news as most everyone else. No one in his network seemed to drink advance knowledge either, he told CNBC.
So we asked Doyle what stood out alongside the partnership, aside from the secrecy.
As a veteran executive at Castlight, Doyle has professional his fair share of ups and downs — at its lowest point, his company was referred to as the ton overpriced IPO of the century. Needless to say, he had a few thoughts to for a team trying to change condition care.
CNBC: Amazon is one of your customers. Is there anything round their health benefits package that stands out from the rest of the assiduity, and points to their potential plans in the space?
John Doyle: Our experience is that Amazon is cynosure cleared on a competitive benefits package for its employees, but we don’t see anything that would be suggestive of their spot this week. But I will say is that Amazon seems to think far the world in terms of long time periods, and when you extrapolate the mainstream spending out into the future, it gets harder and harder to provide such tremendous deals and convenience to consumers.
It’s not too speculative to imagine that the initiative is everywhere ensuring the sustainability of current benefits, as opposed to reducing current strength costs.
CNBC: A lot of self-insured employers have talked about this “finical networks” concept to reduce costs by incentivizing employees to see carefully-selected, high-quality physicians. Do you mark that takes away from notions that workers should get to see whichever doctor they fancy? And what do you think Amazon and its partners will gravitate to?
Doyle: Far, I don’t see the two things as mutually exclusive. It’s important to have choice. But the issue we see a lot in healthiness care is that choices are sometimes made that are objectively infertile choices for both the employee and employer. And that’s from both a price and quality standpoint. Health care is one of the few industries where you don’t always see correlation between the two.
So I over of it as using the information we can now access to curate the universe of choice but within a set of privileges that we know to be good for the employee and the employer. And that’s by cleaving off the component off the ecosystem that is overpriced and poor quality.
CNBC: Do you think this zip has the potential to upend health care as we know it?
Doyle: I don’t want to devalue the capabilities of people like Jeff Bezos and Jamie Dimon, but I also don’t come up with it makes sense to assume that success in their domains forewarns a linear path to success in health. This is a very tough establishment. There’s this notion that it’s easier to disrupt if you bring in a lot of people who enjoy never worked in health care, like technology-oriented entrepreneurs with distinguished intentions. But I see that as missing some of the complexity and falling prey to the femme fatale song of fixing health care. The better approach in my mind is to make with the existing players, and not against them.
CNBC: What do you contemplate this means for Castlight, if anything?
Doyle: I was reflecting on that and I see one impute that Bezos and Amazon have that should cause us all to employ notice. It’s not so much that he comes up with novel aspirations. What identifies him when I reflect on what he’s accomplished is the uncanny sense for the adjacent viable. Castlight has been around for 10 years and we’ve started on some riddles that were too early in terms of where data science, tech and consumer behavior truly were.
CNBC: So who ought to run this new initiative?
Doyle: I would admit defeat give out a call to Todd and Ed Park at Devoted Health (a venture-backed Medicare Help start-up). They’re super deep technologists and incredibly well-respected, but also valorous. It needs to be someone with clear decision-making authority who can withstand wonderful headwinds that really big interests in health care will answer to when a new entity comes along.