The Rise in Medical Care Cost by Eric Lefkofsky

Health care costs in the U.S. have escalated due to patients requiring intensive and expensive medical care. A rise in population and aging are also other factors affecting the costs as demand for health care services prevails. However, mitigation of some diseases has resulted in less need of frequent medical services and thus lowering annual spending.

According to Gerard Anderson, a researcher at Bloomberg School of Public Health, prices of medical care directly results into higher spending. Looking at different diseases, though, there are several factors that lead to individual increase. For diabetes alone, it has the greatest increase in medical care costs, with $64 billion spent yearly. This rise has been facilitated by aging, population growth and high costs of pharmaceuticals along with prevalence of the disease.

Despite best efforts to reduce spending, inpatient care costs have still plummeted even with short hospital stays. Outpatient care for all diseases has also risen as some patients avoid hospitalization. However, the value purchased for the care and pharmaceuticals cannot be justified.

Born in 1969, Eric Lefkofsky is the CEO and co-founder of Tempus – a technology company that provides personalized cancer information by storing clinical and molecular data. He holds a bachelor’s degree in law from University of Michigan. As a businessman, he has co-founded other ventures including Echo Global Logistics, InnerWorkings and Lightbank serving in different roles.

After venturing into business, Eric Lefkofsky commenced a teaching career in Michigan area. Currently, he is an adjunct professor at Chicago University School of Business teaching entrepreneurship and technology-based courses. Eric has also published a book that details how business is affected by technology, titled Accelerated Disruption. He and his wife started Lefkofsky Foundation in 2006. The foundation serves as a charitable trust and supports scientific and educational organizations around the world. With its main focus on children, the foundation has funded over 50 organizations.

 

Eric Lefkofsky and the Rise of Data-Enabled Precision Medicine

Before the advent of Tempus, medical related data lacked proper synchronization of critical information required for the effective handling of patients in areas such as precision medicine where this is crucial.

With the rapid increase in cancer cases in the U.S, there is a need for more efficient methods of patient data synchronization. This is where Tempus comes into play with the revolutionary Data-enabled precision Medicine, and the man behind this great work is Eric lefkofsky.

Keeping in mind the end goal to treat disease effectively, specialists require information. An engine that is capable of gathering data about previous patients who had a particular disease and to use that for future treatments is a powerful concept.

This was the philosophy behind the creation of Tempus; a company focused on developing a way of gathering data for cancer treatment.

According to the founder of the enterprise, Eric Lefkofsky, there is almost nothing out there capable of consolidating both genomic data with varied information that can be useful for therapies.

Precision medicine is a new method of disease treatment which takes into account, the variability in the gene of an individual, taking into consideration also the lifestyle and environment of each person. With Tempus, cancer prognosis and treatment has been simplified with the use. Tempus advanced digital data analysis and synchronization Technology. It is safe to say that the days of long paper charts are gone.

Born in 1969, Eric lefkofsky the co, founder of tempus never knew life had more in stock for him. He attended the University of Michigan from which he graduated in 1991 with honor; he further received a Juris doctor in 1993 after completing law school at the University of Michigan law school. Eric set aside his law certificate for a business career trading in carpets. This would seem like a funny turn of event.

His life soon changed after his wife Elizabeth was diagnosed with breast cancer. He was disappointed to discover the weak patient data handling schemes practiced, which was devoid of technological assistance for easy analysis and retrieval to learn more about us: https://www.facebook.com/eplefkofsky/ click here.

Tempus changed this, and today it is one of the critical solutions for a more efficient battle against cancer.