Cost-benefit issues, and ethics in precision medicine

Precision medicine (PM) is a type of medicine that tries to enhance patient outcomes by stratifying or personalizing diagnosis and treatment decisions. Over the last few decades, a progressive trend toward patient-centered healthcare has made it possible to use tailored diagnostic and treatment approaches. Precision medicine (PM) delivers stratified patient subpopulations with known outcome margins with timely and cost-effective medical solutions. Genetic profiling, including the discovery of prognostic biomarkers, is now the most common form of PM intervention. These can identify people who are at risk for a particular disease or a severe form of a disease, allowing for early intervention to reduce disease burden and improve quality of life. Many factors influence the cost-effectiveness of targeted interventions, including the prevalence of a particular gene or allele in a population, the accuracy of a test, and the costs of testing and individualized treatment. As a result, patient outcomes may improve, although PM's cost-effectiveness is still unknown.

• Economic Evaluations
• Pharmaceutical Industry Involvement
• Ethics
• Factors Influencing Cost-Effectiveness