Improving the Efficiency and Effectiveness of Genomic Science Translation Workshop Summary (2014) / Chapter Skim
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4 Industry and Venture Capital
4 Industry and Venture Capital
Pages 23-30
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From page 23... ...
• Obstacles to translation could be reduced by leveraging of new technologies, opportunities afforded by globalization, regula tory reform, and alternative research models. • A successful business model for the translation of the findings of basic research to personalized medicine requires that patients be put first through the creation of well-designed clinical ques tions and the generation of sound clinical data for clinicians and payers.
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From page 24... ...
Duyk mentioned the ineffi iencies in the health care system, including the problem of the c nonalignment of incentives in medicine, in which treatment of a patient for diabetes prevention today will not produce its full return to the health care system for decades. "This is an area where there needs to be scholarship.
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From page 25... ...
. predictability would then propagate through the rest of the system, bringing greater clarity to regulation, reimbursement, and health care delivery.
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From page 26... ...
Suggestions for Changing the Current Dynamics Duyk described a range of opportunities that would begin to change the health care ecosystem to adjust for new technologies. Today, the areas in medicine that are some of the most innovative are those in which consumers provide most of the capital, such as laser vision correction surgery, cosmetic surgery, and in vitro fertilization.
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From page 27... ...
Duyk indicated that knowledge-based health care systems, such as those in the United States, are less scalable, but rule-based or evidencebased systems are more conducive to scaling, as exemplified by the costeffectiveness of AIDS treatment in Africa. Already, drug development increasingly occurs outside of the United States where regulatory agencies are more cooperative and collaborative, such as the biosimilars market, said Duyk.
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From page 28... ...
Working closely with physicians is critical, because "you can't go anywhere in health care unless you get the physicians on board." Physicians will make the right decisions for their patients, if they are provided with strong data, Scott said. How physicians view the importance of what is accomplished for their patients matters more than the exact economics, he said.
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From page 29... ...
Change is occurring in the global payment market for diagnostic tests, Scott noted. Regions where health care is not covered -- in South America and in parts of Europe and Asia -- patients have incentives to spend $3,000 on a test that would provide more information about the chance that they should take on chemotherapy that could cost $20,000, Scott said.
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From page 30... ...
"As we like to say at InVitae, we don't patent the genes; we set them free. We believe very strongly that patients should own and control their own genetic information, that they should have access to the information, and they should have the rights to determine how it is used.
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