title: The microeconomics of personalized medicine: today's challenge and tomorrow's promise.
abstract: 'Personalized medicine' promises to increase the quality of clinical care and, in some cases, decrease health-care costs. Despite this, only a handful of diagnostic tests have made it to market, with mixed success. Historically, the challenges in this field were scientific. However, as discussed in this article, with the maturation of the '-omics' sciences, it now seems that the major barriers are increasingly related to economics. Overcoming the poor microeconomic alignment of incentives among key stakeholders is therefore crucial to catalysing the further development and adoption of personalized medicine, and we propose several actions that could help achieve this goal.
authors.affiliation: McKinsey, 3075A Hansen Way, Palo Alto, California 94304, USA.
authors.forename: Jerel C
authors.initials: JC
authors.lastname: Davis
authors.forename: Laura
authors.initials: L
authors.lastname: Furstenthal
authors.forename: Amar A
authors.initials: AA
authors.lastname: Desai
authors.forename: Troy
authors.initials: T
authors.lastname: Norris
authors.forename: Saumya
authors.initials: S
authors.lastname: Sutaria
authors.forename: Edd
authors.initials: E
authors.lastname: Fleming
authors.forename: Philip
authors.initials: P
authors.lastname: Ma
mesh_terms: D003695:Delivery of Health Care / Q000191:economics / Q000639:trends; D003955:Diagnostic Tests, Routine / Q000191:economics / Q000639:trends; D004345:Drug Industry / Q000191:economics / Q000639:trends; D004467:Economics / Q000639:trends*; D006801:Humans; D010548:Personal Health Services / Q000191:economics* / Q000639:trends; D004364:Pharmaceutical Preparations / Q000191:economics; D010597:Pharmacogenetics / Q000191:economics / Q000639:trends
chemical_list: D004364:Pharmaceutical Preparations