Opportunities in the Economics of Personalized Health Care and Prevention

Meltzer David O. ()

Forum for Health Economics & Policy, 2013, vol. 16, issue 2, S13-S22

Abstract: Personalized medicine is best viewed from a broad perspective of trying to use information about a patient to improve care. While “personalized medicine” often emphasizes the value of genetic information, traditional clinical approaches to personalizing care based on patient phenotype, provider and system-level factors should not be neglected. As these diverse approaches to personalization are examined, tools such as cost-effectiveness analysis can provide important insights into the value of these approaches, strategies for their implementation and dissemination, and priorities for future research. Such analyses are likely to be most insightful if they recognize that patient and provider behaviors are essential determinants of the value of treatments and that patient factors in particular may have large effects on the value of treatments and the need for interventions to improve decision making. These comments suggest three major areas of opportunity for economic analyses of personalized medicine: (1) traditional clinical approaches to personalized medicine, (2) multi-perspective studies of the benefits and costs of personalized medicine, and (3) the role of behavior in the value of personalized medicine.

Keywords: personalized Medicine; Cost-Effectiveness Analysis; Health Economics (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/fhep-2013-0012 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:fhecpo:v:16:y:2013:i:2:p:47-56:n:4

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/fhep/html

DOI: 10.1515/fhep-2013-0012

Access Statistics for this article

Forum for Health Economics & Policy is currently edited by Dana Goldman

More articles in Forum for Health Economics & Policy from De Gruyter
Bibliographic data for series maintained by Peter Golla ().