Cost-Effectiveness and Policy Implications of Personalised Medicine

Abstract

Purpose: Personalised medicine’s integration into healthcare systems around the world, as well as its policy implications and economic impact, are all thoroughly examined in this article. Personalised medicine holds great potential for better patient outcomes through pharmacogenomic-guided therapies; however, there are substantial financial and regulatory hurdles to overcome. Methods: Our extensive work included cost-utility analyses and cost-effectiveness analyses. The long-term economic impacts of various scenarios were modelled using Monte Carlo simulations. These scenarios included increasing the scale of genetic testing in high-risk populations and expanding the use of pharmacogenomic treatments for cardiovascular disease. Additionally, data about ethical considerations were discarded from case studies and regulatory documents. Results: For high-risk cancer patients, the incremental cost-effectiveness ratio (ICER) for expanding genetic testing averaged $58,500 per quality life years (QALY), and it was likely cost-effective 75% of the time. Cardiovascular pharmacogenomic testing had a higher economic benefit, with an 88% likelihood of cost-effectiveness and an ICER of $42,000 per QALY. With a 40% likelihood of cost-effectiveness and an ICER of $115,000 per QALY, personalised cancer immunotherapies were less cost-effective. Conclusions: Despite obstacles such as high initial costs and disjointed regulatory frameworks, personalised medicine shows great promise for improved outcomes and cost savings through genetic testing and pharmacogenomics.