Since the 1970’s, the cost of medical treatment in the United States has continued to spiral out of control. Relative to inflation, the real cost of medical treatment today is over five times what it was in the early 1970s. This dramatic and continuous spiraling of medical costs into the stratosphere threatens the very fabric of the entire United States social welfare apparatus. If the costs are not brought under control, many economists predict that, within the next 50 years, the system will become overstrained and collapse. This would result in a Venezuela-like medical system, where only the rich few are able to afford a basic treatment and everyone else is left to fend for themselves.
One of the ways in which medical costs are being dramatically reduced in various areas of medical treatment is through the use of machine learning and advanced data analytics techniques. As one of the nation’s foremost medical philanthropists, Eric Lefkofsky has been at the forefront of bringing new innovations to the realm of medical data analysis. Having traditionally spent most of his time in the medical field focused solely on philanthropy, Lefkofsky eventually realized that he could do more good by jumping into the fight himself and what Eric knows.
In 2016, he co-founded internet startup Tempus, which is dedicated to the development of platforms that allow for medical personnel to instantly access cutting-edge data analytics, potentially leading to the dramatic reduction in costs and increases in effectiveness of medical treatments. The area in which Tempus has so far focused most of it effort has been in oncology. After Lefkofsky had a family member who fell ill with cancer, he was dismayed to find over the course of two years worth of oncology appointments that people in the cancer treatment business often have less access to quality data than the typical truck driver in the United States. This startling realization led Lefkofsky to the idea that the same types of technological innovation that has revolutionized areas such as internet search could be applied to medical treatments with the same levels of success and more information click here.
Today, Tempus’ platforms are quickly being adopted by oncologists across the country.