Rationale for the Surge of Healthcare Costs in the United States

Health is exceedingly becoming expensive in the United States. In 2013, Americans spent an excess of $933 billion on health care. According to a research finding published in JAMA, most of these resources were mainly spent on aging and population increase. In the recent past, the country has spent hugely on various diseases. For instance, diabetes prevalence increased considerably across the country, costing a total of $64 billion. More than $44 billion of this money was however spent on pharmaceuticals.

Research conducted on diseases is equally a potential cause of the increase in healthcare costs. The annual expenses on inpatient rose to $697 billion compared to its earlier cost of $258 billion. Notably, the increase came even with shorter hospital stays among many patients.

According to Dieleman, the health sector is particularly committed to lowering healthcare spending. Even then, the healthcare efforts have now been frustrated by the rising cost of drugs and hospitalization. The healthcare sector is conducting extensive research to minimize disease expenditure.

Joseph Newhouse who serves as the director of Harvard Division of Health Policy Research and Education identifies that the health sector is experiencing a rise in spending and purchasing. Any effort to stop this trend can only stop further increase. For instance, breaking down costs will promptly decline further increase in healthcare costs and restore normalcy in the sector.

Eric Lefkofsky serves as the chief executive officer at Tempus. Eric is the founder of this technology company that is specialized in cancer treatment. The main goal of Tempus is to build one the largest global library of clinical data, molecular, and operating system to readily avail resources and data with ease. As a result, physicians will be able to offer customized cancer care services to patients.

Eric first established Lefkofsky Family Foundation in 2006 and is now one of the pioneering private charitable foundation. Eric currently serves at Lurie Children’s Hospital of Chicago as a trustee. He works at Accelerated Disruption as an author and a professor at the University of Chicago. Eric attended the University of Michigan where he earned his Juris Doctor.