Precision medicine has the potential to improve the health of humankind, by creating disease modifying treatments that will transform our healthcare systems. But how do we address the challenges of data ownership and sharing, so that we have a secure and trustworthy system? Strategy& Partner, Jo Pisani is joined by Genya Dana, Director of Precision Medicine at the World Economic Forum (WEF) to discuss this further in our collaboration with the FT and WEF.
The promise of precision medicine: Is data the cure?
By studying huge datasets on the medical histories, DNA and lifestyles of millions of people it is possible to identify the causes of cancer and heart disease, weeding out failing treatments and matching patients with the best drugs. Underpinned by trust and collaboration, precision medicine offers a huge opportunity to improve our health by curing or even preventing disease.
Precision medicine: the potential to transform healthcare
Precision medicine uses data and processes like genome sequencing to predict more accurately what treatments are most likely to be effective for a particular disease and a particular patient. By providing cost-effective therapies that actually work, it can reduce healthcare budgets and, importantly for patients, offer disease-modifying treatments that can cure or prevent disease.
As more digital therapeutics and connected devices come onto the market, pharmaceutical companies will have to change their approach to product discovery and development, focusing on solutions that have demonstrable outcomes for patients and providers.