It is evident that the cost of healthcare services has risen. For instance, in 2013 Americans have spent an extra $933 billion than what was used in 1996 for healthcare services. The increase has resulted from increased care services and the introduction of other intense care that are expensive. An increase in the population and aging are other factors that have increased the cost. A decrease in the occurrence of diseases decreased the annual spending.
According to the recent research, different diseases have different factors that increase the costs of healthcare services. For instance, the study found out that diabetes had the highest annual increase in spending worth $64 million. $44 million was spent on pharmaceuticals. All the aspects of diabetes that were looked into by the researchers increased the spending. Low back and neck pain followed diabetes in spending at $57 billion annually. The occurrence of the pain did not change. However, the number of care people receive for the pain led to an increase of 8.5% per year.
Inpatient care increased for $258 billion to $697 billion annually for all diseases. Although the period patient spent in the hospital reduces, the spending cost still increased. This is because the daily cost of medical care has increased. The attempts to reduce the spending rates have not resulted in encouraging outcomes. The spending of money on purchasing drugs have not increased spending.
Eric Lefkofsky co-founded Tempus Company. The company is a leading provider of data-driven precision medicine for cancer. Tempus was founded in 2016 and has its headquarters in Chicago. Tempus analyzes the molecular and clinical data of patients in order to provide cancer care. Mr. Lefkofsky was born and raised in Michigan. He attended the University of Michigan and graduated with high honors. He attended the University of Michigan, School Of Law and obtained a Juris Doctor degree. Lefkofsky taught Applied Technology at DePaul University.
Eric Lefkofsky founded the Lefkofsky Foundation. The foundation supports and funds charities and educational organizations globally. The foundation focuses more on needy children. Since its establishment, the foundation has donated funds to more than 50 organizations worldwide. Eric founded the organization with his wife.
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