Amazon, along with two other tech giants –Warren Buffett and JPMorgan Chase, wants to disrupt the health care system of America. They announced to experiment it on their employees and provide them affordable care with high-quality.
Reports show that these three American corporates are yet behind China. Making health care their priority for years, technology companies like Alibaba and Tencent are using China as their laboratory. The companies have already tested drug tracking systems and online medical advice. They are now focusing on artificial intelligence, which is a more advanced tool. This dynamic shift has highlighted the differences between the Chinese and American health care systems.
Chinese hospitals are found overburdened, where for every 1,000 people just 1.5 doctors are available. This is half the figure in the United States.
Amazon and its partners consider technology as a mode to facilitate affordable and simplified medical services. Despite being in the early stages of their alliance, these tech giants may offer online medical services or lower drug prices.
Laura Nelson Carney, an Asia-Pacific health care analyst at Bernstein Research said, “It’s fair to say that across the board, the Chinese tech companies have all embraced being involved in and being active in the health care space, unlike the U.S., where some of them have and some have not. However, few of them have made moves as big as in China.”
The big moves of some companies in the U.S. have had varying degrees of success. Yet, the artificial intelligence advances have already been transformative for overworked doctors of China.
Dr. Yu Weihong, an ophthalmologist at Peking Union Medical College Hospital informed that analyzing a patient’s eye took her around two days earlier. However, as the hospital is currently testing the Artificial intelligence software, it is helping her do that faster.
For every million people in China, there are just 20 eye doctors. This is third of the proportion in the U.S.
Population size of China is nearly 1.4 billion people. This provides a possible advantage for the development of artificial intelligence. Moreover, the country is least concerned about privacy, which facilitates easier data collection resulting in smarter and efficient A.I. systems. However, regulations in the United States are strict as compared to China.
The potential disruption from Amazon and its partners, three renowned innovators in technology and finance has sent a shock wave through the health care sector.
Contradictory to the muddle up method of insurers and other companies, Amazon seems well-positioned to form a more user-friendly way to shop.Its new venture has another industry to shake up. From selling only books, it has changed the shopping venues of people buying even diapers, toys and paper towels. It led to a decline in the sale of department stores, toy stores and bookstores.
But, the company has earned customer trust. They are already in the houses, becoming a part of people’s routines in how they shop.