Site icon LucidQuest Ventures

Precision medicines: a value-based approach

precision_med

precision_med

Precision medicine is a novel and targeted approach for disease treatment and prevention taking into account individual differences in a patient’s genes, environment, and lifestyle either at the clinical level or within drug discovery and development. It is pivotal in alleviating unnecessary suffering related to medical care, due to unintended side effects which can result from the current one-size-fits-all approach. It is moving towards patient engagement and disease management thereby promoting early diagnosis and reducing the overall cost of treatment. Thus precision medicine can rightly be considered an outcome-based approach. 

Precision medicine is commonly used in cancer treatment. It is also used to detect and treat human immunodeficiency virus (HIV) and cystic fibrosis. Examples of precision medicine also include using targeted therapies to treat specific types of cancer cells, such as hormone receptor-positive/human epidermal growth factor receptor 2 negative (HR+/HER2-) breast cancer cells or using tumor marker testing to help diagnose other cancer types. For example, Novartis’ drug, Piqray targets the effect of PIK3CA mutations (most commonly mutated gene in HR+/HER2- breast cancer) and may help overcome endocrine resistance in HR+ advanced breast cancer.

Although precision medicine’s adoption can be found in several areas of diseases, its role in day-to-day healthcare remains relatively limited.

Barriers in the way of precision medicine

How can hospitals prepare for adoption of precision medicine?

Follow through/setting standards

Novartis has been one of the torch bearers in precision medicine. As part of its commitment to ensuring eligible patients have access to Kymriah:

Advances in the area of precision medicine are happening faster than the ability of hospitals and health systems to keep pace. Therefore, drug companies should come up with various patient programs, value-based pricing initiatives, and resources to support safe and timely access for patients and address the full range of their needs. 

 

#precisionmedicine #valuebasedpricing 

 

Sources: 

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6909265/

https://www.fda.gov/drugs/precision-dosing-defining-need-and-approaches-deliver-individualized-drug-dosing-real-world-setting

https://www.researchgate.net/publication/338079839_Precision_dosing_to_avoid_adverse_drug_reactions

https://www.biospace.com/article/precision-medicine/

Exit mobile version