Economic Dimensions of Personalized and Precision Medicine

Ernst R Berndt, Dana P Goldman, John Rowe

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English

University of Chicago Press
22 April 2019

Microeconomics; Health economics; General practice; Medical insurance; Pharmacology

Series: National Bureau of Economic Research Conference Report

Personalized and precision medicine (PPM)—the targeting of therapies according to an individual’s genetic, environmental, or lifestyle characteristics—is becoming an increasingly important approach in health care treatment and prevention. The advancement of PPM is a challenge in traditional clinical, reimbursement, and regulatory landscapes because it is costly to develop and introduces a wide range of scientific, clinical, ethical, and socioeconomic issues. PPM raises a multitude of economic issues, including how information on accurate diagnosis and treatment success will be disseminated and who will bear the cost; changes to physician training to incorporate genetics, probability and statistics, and economic considerations; questions about whether the benefits of PPM will be confined to developed countries or will diffuse to emerging economies with less developed health care systems; the effects of patient heterogeneity on cost-effectiveness analysis; and opportunities for PPM’s growth beyond treatment of acute illness, such as prevention and reversal of chronic conditions.

This volume explores the intersection of the scientific, clinical, and economic factors affecting the development of PPM, including its effects on the drug pipeline, on reimbursement of PPM diagnostics and treatments, and on funding of the requisite underlying research; and it examines recent empirical applications of PPM.

Edited by: Ernst R Berndt, Dana P Goldman, John Rowe
Imprint: University of Chicago Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm,
ISBN: 9780226611068
ISBN 10: 022661106X
Series: National Bureau of Economic Research Conference Report
Pages: 392
Publication Date: 22 April 2019
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Ernst Berndt is the Louis E. Seley Professor in Applied Economics at the MIT Sloan School of Management, and a research associate of the National Bureau of Economic Research.