Compared to 1996, the excess 933 billion dollars on healthcare expenditure was due to patients receiving more expensive and intensive care as well as higher healthcare charges. Analysts also attributed the rise in spending to aging and population growth. There was a slight decline in annual expenditures because of variations in the disease prevalence.
The new analysis broke down the expenditure as per each disease. Different conditions had diverse factors that could lead to the increased spending. For instance, diabetes had the highest rise in annual spending over the study period. Pharmaceuticals contributed to the enormous expense of diabetes. There was also an increase in the annual expenditure on inpatient care for all the conditions examined. However, the study was inconclusive but set a base for future research regarding the value of spending on healthcare.
As an American entrepreneur, Eric Lefkofsky co-founded and still heads Tempus as the CEO. He also co-founded ECHO, Mediaocean, Lightbank, and InnerWorkings (INWK). Lightbank invests in disruptive technologies as a venture fund. Mediaocean leads in the provisions of technology that integrates the procurement of media. ECHO is a technology firm that enables the outsourcing of logistics and transportation whereas InnerWorkings provides promotional solutions and managed print throughout the world. Tempus is a technology firm that built an operating system to assist in the battle against cancer.
Eric Lefkofsky continues to assist the diversification of cancer research by donating a lot of millions towards the study. He started Tempus aiming at taking a smarter approach to cancer treatment. Tempus builds infrastructure that would modernize the treatment of cancer. The organization assists healthcare professionals make data-driven, real-time, and individualized treatment decisions following the analysis of patients’ genes. Data from Tempus assists doctors offer better care to cancer patients.
Eric Lefkofsky and his wife started the Lefkofsky Family Foundation that is a private charitable organization. The foundation aims at advancing initiatives that profoundly impact the neighboring communities. Lefkofsky is a trustee of the Museum of Science and Industry, Art Institute of Chicago, and Lurie Children’s Hospital among others. He writes on accelerated disruption and is the University of Chicago’s adjunct professor.