Here Monette introduces her perspective.
My focus is on the Personalized Medicine opportunity, and its progress and barriers.
The genomic/proteomic era has enabled development of effective targeted therapies, molecular diagnostics and biomarkers that are revolutionizing the patients care pathway. This is where Life Science meets Healthcare.
More and more disease pathways (e.g. Melanoma) are being elucidated where a patient can be assessed for predisposition of a certain disease and take precautions for prevention or early-detection. If they receive a confirmed diagnosis, they can be treated with an optimized therapy and be monitored (at a molecular level) to ensure the therapy is effective.
By taking a “patient-based” funding view, rather than a typical siloed view of costs, one can foresee major system health savings with this approach. The chart below, from a recent post by Peter Keeling at pharmaforum, outlines the Melanoma system costs and over all savings with earlier personalized diagnosis and intervention. It demonstrates approx. 10% savings, which is very material when one is talking in Billions of dollars.
My experience in the diagnostic sector drove home the tremendous complexity and challenge of bringing new tests to market. Jurisdictions around the world are striving to establish molecular diagnostic approval processes that provide equality of patient access, ensure strong clinical value, and good value for money.
The US recently implemented tougher Medicare reimbursement criteria that increase time to market and decrease certainty of coverage.
Canada’s single payer model has reimbursed very few new tests relative to other jurisdictions, but reassuringly there are Federal and provincial efforts underway to address the molecular diagnostic tsunami.
Patient, physician and industry pressure to adopt Personalized medicine is only going to intensify.