Eric Lefkofsky’s Perspective on the Cost of Health Care

A large population of the Americans spent more on health care in 2013 than in 1996. That was caused by higher charges for health care. The biggest drivers of the increased cost of health care were population and aging. Change in the prevalence of disease would result in a decrease in annual expenditure while the change in health care service frequency seemed to have no impact. Prices are responsible for the increased spending.

About Eric Lefkofsky

Eric Lefkofsky is the serial entrepreneur behind the development of Tempus, InnerWokings, Lightbank, Mediaocean, and Echo Global Logistics. He began his career as a carpet vendor shortly after graduating with a Law degree from the University of Michigan. Later on, he teamed up with Brad Keywell to acquire an apparel company, Brandon Apparel, which is located in Madison, Wisconsin. In 1999, the pair created an early Internet company, Starbelly that would specialize in promotional products. Over time, Sterbelly experienced exponential growth and was acquired by Halo Industries in 2000. Upon the acquisition, Eric Lefkofsky joined Halo Industries as the Chief Operating Officer.

In 2005, the duo founded a media-buy technology company, MediaBank that specializes in buying, planning, and analysis software. In 2007, MediaBank acquired a leading media planning and procurement platform, Datatech. In February 2012, MediaBank merged with Donovan Data Systems to form Mediaocean at an estimated cost of $1.5 billion.

Philanthropy

Eric Lefkofsky and his wife, Elizabeth, are passionate about charitable causes. They are the co-founders of the Lefkofsky Foundation, which is a charitable trust. It supports educational, generous, and scientific causes around the world. It has focused on children and has funded over 50 charitable organizations to date. Eric also serves on the boards of the Museum of Scientific and Industry, Children’s Memorial Hospital, and a Trustee of Chicago-based performing arts institute, Steppenwolf Theatre Company. After founding InnerWorkings, Eric Lefkofsky began a teaching career at DePaul University’s School of Business. He also taught a course in disruptive business models in the Northen University Kellogg School of Management. Eric Lefkofsky currently serves as an Adjunct Professor at the Chicago University Booth School of Business where he teaches entrepreneurship and technology-based courses.