Amazon, Buffett, JP Morgan Health Care Company To Be Based In Boston

"Talent and dedication were manifest among the many professionals we interviewed", said Berkshire Hathaway Chairman and CEO, Warren Buffett.

The three companies said in late January that their new venture will focus on technology that provides simplified, high-quality and transparent care.

The venture will be geared toward employees of the three companies, rather than healthcare consumers overall in the United States, though Dimon said that potentially, all Americans could benefit.

Gawande now practices general and endocrine surgery at Brigham and Women's Hospital and is Professor at the Harvard T.H. Chan School of Public Health and Harvard Medical School. He added that he hopes "we could find a way where perhaps better care could be delivered even at somewhat lesser cost".

It is unclear at this point how exactly the three prominent business executives plan to lower health care costs, though once they have a model in place, Buffett has said he would potentially like to use it on a wider scale across the country.

Buffett has described US healthcare costs as a "tapeworm" on American businesses, hurting their ability to compete with rivals in other countries. Since Buffett began his career as an investor, USA spending on health care has risen from around 4% of GDP to around 18%. "And it takes somebody that has a fervor for doing this beyond just having a job".

"Jamie, Jeff and I are confident that we have found in Atul the leader who will get this important job done", Buffett said in a statement.

"I have devoted my public health career to building scalable solutions for better healthcare delivery that are saving lives, reducing suffering, and eliminating wasteful spending both in the United States and across the world", Gawande said in a statement.

They have announced few details since then but have emphasized that this process will take time. He said in a statement Wednesday that he has devoted his career in public health to building solutions for better care delivery, and that while the current system is broken, "better is possible". It will be independent from the three firms, whose leaders formed the group as a way of contending with what Berkshire chief executive officer Warren Buffett called a "tapeworm" eating the United States economy.

One of the big influences the prominent US corporate giants could have in the health care market is pricing leverage.

Gawande will continue to perform general and endocrine surgery during his tenure as CEO.