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- W1975683915 abstract "As the US health care system drives toward population-level goals for efficiency and effectiveness, demand persists for more personal care at the patient-level. Personalized medicine is an emerging business model that harnesses genomics and biotechnology aimed at tailoring therapies and interventions to individual patient characteristics. Market stakeholders universally acknowledge the tectonic shift away from the historic blockbuster drug model to a more targeted model. To evaluate current insights and challenges, we surveyed key stakeholders and decisions makers across the health care industry. We conducted a survey of approximately 300 biopharma executives, payers, and providers in the US and EU to gain insight into their needs, perceptions, and readiness to shift toward a more robust personalized medicine approach. This original research is aimed to characterize current status of infrastructure, preparedness, adoption and value assessment around personalized medicine development and highlight key challenges and opportunities. Only 22%-27% of payers and providers believe that personalized medicine is a “very important” strategic goal versus ~50% of large biopharma manufacturers. Although 47%-52% of all stakeholders have integrated staff with area expertise, fewer than 20% have developed a centralized focus on personalized medicine and only 8%-20% believe they have tools to evaluate its success. Decision maker perspectives ranged broadly on its key benefits but included improved and more predictable outcomes and cost efficiencies. Approximately 30% of all stakeholders believe that personalized medicines will continue to receive premium pricing to justify ROI for this business approach. Although most stakeholders see value in personalized medicines, they struggle with practical implementation and need actionable strategies to characterize the value and impact of these technologies. The survey suggests that limited emphasis on infrastructure development and methods, heterogeneous value assessment, and misalignment of incentives remain key challenges to enabling care and economic efficiencies promised by this evolving treatment paradigm." @default.
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- W1975683915 date "2014-05-01" @default.
- W1975683915 modified "2023-09-28" @default.
- W1975683915 title "Personalized Drug Development: Strategic And Operational Insights For Biopharma, Payers And Providers From A Large Survey Of United States And Eu Decision Makers" @default.
- W1975683915 doi "https://doi.org/10.1016/j.jval.2014.03.208" @default.
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