Clinical OMICS

MAR-APR 2017

Healthcare magazine for research scientists, labs, pathologists, hospitals, cancer centers, physicians and biopharma companies providing news articles, expert interviews and videos about molecular diagnostics in precision medicine

Issue link:

Contents of this Issue


Page 41 of 47

40 Clinical OMICs March/April 2017 Precision Medicine Personalized Progress Personalized Medicine Coalition Releases Report on Ways to Overcome the Challenges of Personalized Medicine Diana Manos, Contributing Editor T he Personalized Medicine Coali- tion (PMC) has released findings on ways that organizations can move personalized medicine forward in the clinical setting . The report, titled "A Roadmap for Facilitating the Clinical Adoption of Personalized Medicine," was published in the March edition of Personalized Medicine, and was based on interviews and focus group discussions held at a national summit co-hosted by PMC and the Biotechnol- ogy Innovation Organization (BIO) . PMC found that problems asso- ciated with the adoption of person- alized medicine fall into five main areas: stakeholder education, patient empowerment, demonstration of value, clinical information manage- ment, and ensuring access . Daryl Pritchard, vice president for science policy at PMC, and lead author of the study, says despite the challenges, he believes precision med- icine has reached a tipping point over the past three years . More than 25% of all the products approved by the FDA qualify as personalized medicine, he says . This is encouraging a rapid move toward personalized medicine . "Most hospitals have this on their radar," he said. One of the biggest current hurdles for personalized medicine is who will foot the bill, according to Pritchard . For teaching hospitals, it's an easier problem to solve . They can rely on research grants, he said . But for com- munity health systems that want to be cutting edge, it gets trickier . Payers are looking for traditional evidence-based research to support reimbursement of personalized med- icine, which often doesn't fit this model . Payers do pay attention, how- ever, when it supports value-based care . If personalized medicine makes care cheaper and improves outcomes in the broader picture, then it has a shot at reimbursement . The study recommends that health- care providers interested in helping to move personalized medicine forward should consider hosting forums where payers, providers and the diagnostic and pharmaceutical industries can discuss health technology assessment processes and the requirements neces- sary for coverage . Alex Parker, associate director for the Center for Individualized Medicine at Mayo Clinic, says with the addition of genetic sequencing, healthcare has taken "an exponential quantum shift." Part of that shift is due to the broad access to sequenc- ing services, and the cost. The first genome sequencing took 15 years and cost roughly $10 billion, now the cost is under $1,000 and takes less than 24 hours, he said—and that price is still dropping . If personalized medicine makes care cheaper and improves outcomes in the broader picture, then it has a shot at reimbursement. Ravitaliy / Getty Images

Articles in this issue

Links on this page

Archives of this issue

view archives of Clinical OMICS - MAR-APR 2017