Precision Medicine Will Transform the Pharmaceutical and Healthcare Industries
The folks at Strategy + Business posted an article on how precision medicine will transform the pharmaceutical and healthcare industries that's likely worth your time to read.
Precision medicine is an overarching approach that is still being refined (and likely will continue to be refined for many years to come). The idea behind it is the very specific tailoring of care to a patient's very specific needs - needs baased upon everything from things such as the genetic makeup of a cancer to the patient's genetic predistpositions, physiology, and gut biome. This article lays out a number of the current and pending ways that precision medicine will be both disruptive and transformational.
Across the globe, a collection of healthcare professionals gather around their computer screens in their respective offices in Beijing, Brussels, London, and Los Angeles. A skilled U.S.-based oncologist leads this virtual board in discussing a 38-year-old British patient with advanced lung cancer. Using virtual reality technology, the team is able to simultaneously review the patient’s entire disease profile, including her medical history and lifestyle, and see high-resolution pathology images and all sorts of other biological data.
The experts reach the unanimous decision that the best way forward is a combination of three targeted medications. Using comprehensive predictive analytics, they judge that she has a strong chance of survival. Additionally, they enroll her in an artificial intelligence–enabled, real-time disease surveillance program, which benefits her by reminding her to take her medications, and benefits the medical community — and future patients — by collecting patient data for analysis.
This is the future of medicine. By applying a deeper understanding of diseases with richer patient data and advanced analytics, precision medicine can help physicians tailor treatments to the needs of individual patients once they get sick, rather than applying standard treatments determined by broader populations. Precision medicine can also lead to more preventive healthcare by using analytics to identify patient risks before symptoms are manifested. Both uses can result in considerably better patient outcomes at lower costs for the patient and the healthcare system.
Read it here.