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Effectiveness, Cost Effectiveness, and Financial Viability of Personalized Medicine: A Role for Comparative Effectiveness Research?

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Healthcare Overview

Part of the book series: Advances in Predictive, Preventive and Personalised Medicine ((APPPM,volume 1))

Abstract

For personalized medicine to be widely adopted in clinical practice, stakeholders need evidence of effectiveness, cost effectiveness and financial viability. Comparative effectiveness research (CER) using population based, retrospective data can inform personalized medicine. The purpose of this chapter is to explore the potential and the limitations of CER to advance personalized medicine. While the analytic methods and data used for CER overcome many of the disadvantages of randomized controlled trials, there are significant barriers, including lack of routinely collected genetic information, patient-reported outcomes and information on new and emerging technologies. Recommendations for using CER include augmenting current data with genetic information, promoting the collection of uniform health outcomes, using value of information analysis to guide development of new technologies, and greater use of decision analysis. In order to address stakeholder concerns regarding short term financial viability, additional emphasis should be devoted to cost analysis of implementation costs and overall financial impact. Finally, the movement to include more patient centered outcomes in regularly collected datasets used for CER will significantly advance personalized medicine.

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Acknowledgements

Thanks to Howard McLeod, Laura Panattoni, Pat Deverka, and participants at the Personalized Medicine Conference (Durham, NC, June 2010) for comments.

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Authors and Affiliations

  1. Health Sciences Research Institute, University of California, Merced, 5200 N Lake Road, Merced, CA, USA

    Paul M. Brown

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  1. Paul M. Brown
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Correspondence to Paul M. Brown .

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  1. place de Jamblinne de Meux 12, Bruxelles, 1030, Belgium

    Vincenzo Costigliola

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Brown, P.M. (2012). Effectiveness, Cost Effectiveness, and Financial Viability of Personalized Medicine: A Role for Comparative Effectiveness Research?. In: Costigliola, V. (eds) Healthcare Overview. Advances in Predictive, Preventive and Personalised Medicine, vol 1. Springer, Dordrecht. https://doi.org/10.1007/978-94-007-4602-2_21

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  • DOI: https://doi.org/10.1007/978-94-007-4602-2_21

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  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-007-4601-5

  • Online ISBN: 978-94-007-4602-2

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