The economics of precision medicine

The Economics of Precision Medicine

On 12-13 April 2018, IRGC gathered 20 stakeholders representing insurance and pharmaceutical companies, academic research, regulators, and patients to discuss issues of cost-effectiveness, affordability, value and innovative payment schemes in precision medicine.

Precision medicine is fundamentally patient-centric, facilitating better targeted and personalised medical care, but it must also make economic sense for society. At a time when healthcare systems around the world are pressed to make better use of scarce resources and maximise health benefits, precision medicine’s salience augments in light of its potential to improve health outcomes in ways that are affordable, economically viable and reflect social preferences.

It is worth highlighting that different types of precision medicine may involve different economic considerations and social judgments.

The workshop was organised with support of the Swiss State Secretariat for Education, Research and Innovation (SERI).