The retail behemoth has acquired One Medical, which is in the Medicare privatization business.
By Matthew Cunningham-Cook, The Lever
Amazon, the $1.25 trillion company founded and led by Washington Post owner Jeff Bezos, has announced that it is acquiring One Medical, a private equity-backed primary care provider that generates over half of its revenue from Medicare.
While Amazon’s profits from its core consumer retail business are dwindling, in part because of heightened competition from brick-and-mortar retailers that were shut down at the beginning of the COVID-19 pandemic, the corporation’s cloud computing division, Amazon Web Services, continues to enjoy robust profits thanks in part to generous government contracts. Now Amazon could be attempting to build on that federal largesse by seeking to milk revenue from Medicare, the national health insurance program for seniors and people with disabilities.
Amazon, which has broad market power, reach, and influence, could use its new platform to advance the cause of Medicare privatization at a much more aggressive pace. The consequences wouldn’t just mean more taxpayer dollars funneled to the mega-corporation, but also Medicare recipients facing a health care system with ever more resources being allocated to profit instead of care.
Recent Posts
Feeding The Warfare State
Take Action Now We Lose, the Weapons Makers WinBy William D. Hartung, Tom Dispatch The Senate is on the verge of passing the distinctly misnamed…
The Rage Of Billionaires And The Frenzy To Stop Zohran Mamdani From Becoming New York’s Mayor
Take Action Now The constellation of forces now regrouping with a vengeance includes titans of Wall Street, enormous real estate interests,…
It’s Not Just The Cities. Extreme Heat Is A Growing Threat To Rural America.
Take Action Now The urban heat island sits in a rural heat ocean.By Umair Irfan, Vox Summer has officially begun with a blast of scorching…
Mamdani’s Massive Victory Should Show Democrats Where The Party’s Future Lies
Take Action Now NYC mayoral candidate Zohran Mamdani has thrown the drowning Democratic Party a life vest. Will its leaders use it?By Sam…