Healthcare costs continue to rise every year. So what is driving the cost of healthcare up? It turns out there are multiple factors at work that are driving up healthcare costs in America.
The single biggest reason why healthcare costs are rising is the fact that the cost of care, such as seeing a doctor is increasing. This inevitably raises the total amount of healthcare costs. More people getting more intensive healthcare and procedures is another factor in the increase for healthcare spending.
The Journal of the American Medical Association found that an increasing population also increased healthcare spending. This makes perfect sense because the more people you have, the more healthcare services they will require. More services rendered will increase the expenditure on healthcare in an economy.
An aging population is another factor that is increasing the cost of healthcare. Older people naturally require more healthcare in their stage of life than younger people. They may require constant medication, checkups, periodic procedures and surgeries. The aging population is driving up healthcare spending in the United States and it look like this trend will continue in the near future.
An interesting thing found in healthcare studies was the fact that disease prevalence has actually lessened the cost of healthcare. This decrease of cost has been negated by many other factors though such as an aging population. Using healthcare services frequently does not seem to raise healthcare however although it may raise total expenditure.
One way to make healthcare more affordable is to make it more effective. This is what Eric Lefkofsky is trying to do with his new healthcare company called Tempus. Mr. Lefkofsky is am innovator in businesses that use big data and analytics to serve clients with marketing and logistics services.
According to Eric Lefkofsky, the goal of Tempus is to make healthcare more effective in treating diseases such as cancer by making it more personal. Tempus allows physicians to analyze data from past patients that have been treated and use it to determine an effective treatment for their current patient. The firm also provides genomic sequencing services to make the treatment for cancer and other diseases as targeted and effective as possible.
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The cancer fighting group called Tempus is trying to give more help to the doctors at the University of Chicago. Eric Lefkofsky, the founder of Tempus wants breast cancer patients to have better treatments available. For this purpose Tempus and the University of Chicago have achieved a partnership.One of the most common types of cancer is breast cancer yet there is not much data accessible on the people who have fought the disease. Doctors are forced to make decisions regarding treatment without information that could aid in the process.
Genomic sequencing and machine learning are used by Tempus to help doctors make more personal decisions in the treatment of their patients. This process was started in 2015 and just recently came to light.Tempus has been setting up numerous partnerships. They work with the University of Michigan, the Robert H. Lurie Comprehensive Cancer Center, Penn Medicine, the Mayo Clinic and Rush University Medical Center in the pursuit of data that can be used in the fight against cancer.
Eric Lefkofsky is one of the founders as well as the CEO of Tempus. He was also a partner in the founding of Lightbank. This is a venture fund specializing in disruptive technologies. Mr. Lefkofsky is well known as the Chairman and co-founder of Groupon, a highly successful e-commerce website.Mr. Lefkofsky started the Lefkofsky Family Foundation in 2006 along with his wife Liz. This private charitable foundation works to advance initiatives that positively affect the lives of the people in the communities they serve. Mr. Lefkofsky is a Trustee at many worthwhile organizations. These include World Business Chicago, The Museum of Science and Industry, The Art Institute of Chicago and the Lurie Children’s Hospital of Chicago.Mr. Lefkofsky is on the board for the Chicago’s Steppenwolf Theatre Company as well as supporting the University of Chicago. In addition he has written Accelerated Disruption. Mr. Lefkofsky attended the University of Michigan where he graduated then earned his Juris Doctor in Law school.
Eric Lefkofsky, J.D., has always been an entrepreneur and a lover of technology. As the co-founder of several big-name companies like Groupon, Echo Global Logistics, and Mediaocean (to name just a few), he has a track record of pushing the limits of how society implements technology. His projects focus on using technology to increase efficiency, communication, and understanding.
With Tempus, he’s taking all that a step further. Tempus is a Chicago-based genetic sequencing company, co-founded by Lefkofsky, that wants to redefine how genomic data is used to fight cancer. Lefkofsky also serves as its CEO. Tempus’s labs don’t just collect molecular data; the company also provides a platform for that data to be analyzed in an unprecedented way. “We built a system to help physicians in clinic analyze incredible amounts of data and make real-time decisions to more effectively treat patients,” Lefkofsky said of Tempus. Tempus’s goal is to fight cancer by giving patients access to personalized treatment plans and by giving physicians the the tools that they need to analyze data effectively and share that data with others.
Now in 2017, Tempus is partnering specifically with University of Chicago Medicine to help with breast cancer research. Tempus will be sequencing and analyzing data from around 1,000 breast cancer patients. Even though breast cancer is one of the more common cancers treated by University of Chicago Medicine, professor of medicine and human genetics Dr. Olufunmilayo Olopade says that “there is relatively little accessible data on the millions of patients who have battled the disease.” Tempus wants to change that.Eric Lefkofsky and the other brilliant minds at Tempus believe that if they can help physicians and researchers uncover patterns about how breast cancer patients respond to treatment, they can help create personalized plans that are more effective for treating future patients.Tempus’s partnership with University of Chicago Medicine marks the beginning of a new era of cancer research, one which Lefkofsky hopes will make a difference in the way physicians treat breast cancer.