Health care costs have been on the increase in the U.S. An extra $933 billion in 2013 was spent on health care compared to 1996. This has been attributed to the increase in charges on patients’ care. The growth in the general population, as well as aging, has increased health care spending.
Researchers are now focused on breaking down the spending by disease, and the different factors that lead to an increase in disease prevalence. Diabetes recorded the highest increase in annual health care spending. Most of the spending was on pharmaceuticals. Lower back pains, as well as neck pains, followed second in the list. The amount of money spent on taking care of these ailments increased per annum as much as the prevalence remained the same. An increase of 8.5% was recorded in inpatient care annually.
Annual spending on inpatient services increased from $258 billion to a whopping $697 billion. This was despite the efforts made to reduce that amount by $201 billion. The increase in spending was ironic since patients recorded shorter stays in hospitals. Spending went up even though hospitals provided all the necessary care in fewer days.
High drug prices have been justified by having to create savings through prevention of hospitalizations. This has not been convincing enough since health care spending keeps increasing.
Eric Lefkofsky is the CEO and co-founder of Tempus. The company’s focus is to come up with technological advancements to fight cancer. Eric Lefkofsky and his wife are renowned philanthropists to causes that are aimed at cancer research. Last year they donated about $3 million to various research institutes that are aimed towards fighting cancer.
Eric Lefkofsky founded the Lefkofsky Family Foundation in 2006. This charitable foundation aims at positively impacting the lives of the communities that they serve. He serves at the Lurie Children’s Hospital of Chicago, The Museum of Science and Industry, The Art Institute of Chicago, and the World Business Chicago as a Trustee. Lefkofsky also serves as a professor at the University of Chicago. He is also a writer, he authored the book Accelerated Disruption. Lefkofsky studied at the University of Michigan’s school of law and got his Juris Doctor.