Precision Medicine Vision

Precision medicine is medical diagnosis, prevention and treatment based on an individual’s variation in genes, environment, and lifestyle. Knowledge of an individual’s personal genome allows us to make informed decisions about the best medical care available, for that person. From fundamental discoveries to the clinic, Columbia... Read more

Business & Economics

The Columbia Precision Medicine Initiative and the Mailman School of Public Health Department of Health Policy and Management sponsored the inaugural Columbia Precision Medicine and Economics Forum on December 7, 2015. Experts in health care coverage from commercial insurance, government and large employers joined leading basic and translational scientists to discuss challenges on the issue of cost-effectiveness in delivering precision medicine. As a follow-up from the Forum, Columbia University is hosting the National Bureau of Economic Research for a two day meeting in September 2016 to begin the process of commissioning scholarship and publishing a white paper on precision medicine and economics.

Collaborative proposals being developed in the area of precision medicine and health economics include:

  • The impact of precision medicine on healthcare costs:  What is the effectiveness of genome sequencing on the cost of diagnosis and treatment?  What are the short term and long term benefits of genomic—based medical care?
  • What is the impact of using molecular biomarkers on the development and use of drugs?  How does this change the pharmaceutical industry model, with its focus on blockbuster drugs with huge market impact?
  • What should the coverage and reimbursement policies be for genetic testing?  Can we move from a cost-based to a more value-based reimbursement system?
  • How does precision medicine impact the current model for drug testing and regulation? What are the policy implications for the FDA and other government regulatory agencies?
  • Will precision medicine increase health disparities and the social cost of illness?  Can it alternatively reduce those disparities?

 

Videos

Jonathan Pritchard 

Professor in the Departments of Genetics and Biology at Stanford University and an Investigator in the Howard Hughes Medical Institute