Over the years the cost of healthcare has always been on the rise, and the question many people ask is why the trend always is upwards despite the infrastructural development put in place. According to research the rising cost of health has been attributed to several factors such as higher charges for care and patients going for more intense and expensive care. There is a huge difference in healthcare spending between the year 1996 and the year 2016, and it is estimated that an extra 933 billion dollars have been spent on health in 2016 as compared to 1996.
According to a research analysis conducted and published by JAMA, population growth and aging are the biggest contributors to the spending increase. Disease prevalence and the frequency within which the health care services were used had little to no effect on the increasing health care costs. Joseph Dieleman of the University of Washington has gone further to break down the reason behind the increase by looking at different diseases. From his findings, diabetes was the leading diseases with increased yearly spending amounting to around 64 billion dollars. The bulk of the amount about 44 billion dollars is spent on pharmaceuticals product. Diabetes is followed by low back and neck pain whose spending is estimated to cost 57 billion dollars a larger portion of which was consumed by the amount of care. Inpatient care spending for all diseases also significantly rose from 258 billion dollars to 697 billion dollars.
The director of the center of health policy Peter Bach criticizes the justification for higher drug prices saying there is no evidence showing that saving in healthcare can be achieved through the prevention of hospitalization. Other critics criticize the report as just stating out the costs amount and do not address the issue of value for money.
About Eric Lefkofsky
Eric Lefkofsky is a serial entrepreneur, the CEO, and co-founder of Tempus. Lefkofsky was born and raised in Detroit Michigan in the year 1969. Tempus is a technology company that specializes in the analysis of clinical molecular information and creation of operating systems that help physicians make data-driven decisions, especially when battling cancer.
Lefkofsky is also a philanthropist who has been actively involved in charitable activities. Together with his wife, they founded the Lefkofsky foundation with the aim of supporting charitable organizations in dealing with scientific and educational causes. The organization has helped fund more than 50 organization that mostly focus on children.