Background. In recent years, there is a growing need to provide evidence and precisely measure the value of genomic medicine interventions so that policymakers are well-informed for decision making related to adoption and reimbursement. Despite the growing scientific evidence and hype regarding the potential applications of genomic medicine, this effort was not matched with reciprocal advances in economic evaluation studies to demonstrate cost-effectiveness of these interventions.
Aim and relevance. The “Valuating Personalized Healthcare” initiative, launched in 2013, is a global multicentre effort aiming to provide the necessary economic evidence that genomic medicine interventions are indeed cost-effective and, as such, can help to reduce the overall healthcare expenditure.
Patient description and involvement. The initiative is both patient-centred and doctor-driven, is unfolded in four (4) different healthcare settings in Europe and involves Oncology and Cardiology patients.
Methods, size and scope. Economic evaluation is performed both experimentally and also theoretically, implementing existing and improvising new economic models for genomic medicine, so that cost-effectiveness of genomic medicine interventions is assessed, based on the demonstrated improvement of survival rates and increase of the quality-adjusted life years. Also, addressing deficiencies of the existing
genomic education and awareness level of the participating IPUs members and healthcare professionals and clinicians in general is a core component of the adopted methodological approach.
Preliminary results. Current findings show that in all 4 healthcare settings, genomic medicine interventions both in Cardiology as well as in Oncology, represent a cost-effective and, in most cases, a dominant choice with the potential of being reimbursed by payers.
Formation of IPUs and international collaborations. Truly multidisciplinary IPUs participate in both the coordinating, as well as the collaborating centres, including academics, clinicians and researchers of all expertise levels, while the initiative is currently being expanded to additional medical specialties and healthcare settings.
Conclusions. So far, the “Valuating
Personalized Healthcare” initiative has largely achieved its initial goal and
with its current upscaling both in terms of medical specialties and healthcare
settings in different countries, these genomic medicine interventions are
likely to start being reimbursed by healthcare systems very soon.