Patients Won't Pay For Drugs That Don't Work
By 2020, payment for medical drugs will be based on personalized patient response, with drug companies only receiving payment when patients respond to pharmaceutical therapy, said the keynote speaker today at the Personalized Health Care National Conference hosted by the Ohio State University Medical Center.
Drug companies are already developing genetically based treatments that would generate payment based on effectiveness in each patient, said keynote speaker Dr. Edison Liu, executive director of the Genome Institute of Singapore.
"Cancer treatment by 2020 – maybe by 2015 – will be selected by cancer genotype, refined by the pharmacogenetic profile of the patient," said Liu, who is also professor of medicine at the National University of Singapore and executive director of the Singapore Cancer Syndicate.
Drug company emphasis on developing genetically based treatments that work for the majority of patients will help reverse the insupportable economics of American health care, according to Liu. The U.S. currently spends 17 percent of its gross domestic product on health care, a trend that cannot continue, he added.
Gene-based disease prevention and treatment will change the course of medical history by improving outcomes and lowering cost, according to Dr. Steven Gabbe, senior vice president for Health Sciences and CEO of OSU Medical Center. "Personalized health care will fundamentally alter the practice of medicine," Gabbe said.