JPMorgan’s Health Care Reboot Ditches Disruption for Insiders

JPMorgan Chase Co. has revamped its troubled effort to become a major player in health care by taking an insider approach and staffing its new venture, Morgan Health, with career health care executives — a move that comes after the firm initially positioned itself as a disruptor with its flashy Haven joint venture alongside Amazon and Berkshire Hathaway. Morgan Health will instead focus on a familiar goal — “improving employer-sponsored healthcare,” per its website — through an emphasis on primary care and capitated reimbursement, while building on JPMorgan’s existing relationships with Cigna Corp. and CVS Health Corp.’s Aetna.

Beyond the goal of reducing JPMorgan’s health care costs, Morgan Health will eventually sell analytics, benefit design and care coordination insights and a capitated reimbursement model to other employer plan sponsors. In contrast with Haven, Morgan Health is directed solely by JPMorgan. Morgan Health also controls a $250 million venture fund, of which $50 million was spent in August to invest in primary care provider Vera Whole Health, where Morgan Health now holds a board seat. Vera’s primary care practice is funded solely by risk-based, capitated reimbursement.

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Peter Johnson

Peter Johnson

Peter has worked as a journalist since 2011 and has covered health care since 2020. At AIS Health, Peter covers trends in finance, business and policy that affect the health insurance and pharma sectors. For Health Plan Weekly, he covers all aspects of the U.S. health insurance sector, including employer-sponsored insurance, Medicaid managed care, Medicare Advantage and the Affordable Care Act individual marketplaces. In Radar on Drug Benefits, Peter covers the operations of (and conflicts between) pharmacy benefit managers and pharmaceutical manufacturers, with a particular focus on pricing dynamics and market access. Before joining AIS Health, Peter covered transportation, public safety and local government for various outlets in Seattle, his hometown and current place of residence. He graduated with a B.A. from Colby College.

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