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Publications
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  • March 17, 2017
  • Article
  • Science

How Economics Can Shape Precision Medicines

By: Ariel Dora Stern, Brian M. Alexander and Amitabh Chandra
  • Format:Print
  • | Pages:3
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Abstract

Many public and private efforts in coming years will focus on research in precision medicine, developing biomarkers to indicate which patients are likely to benefit from a certain treatment so that others can be spared the cost—financial and physical—of being treated with unproductive therapies while more easily uncovering therapeutic signals. However, such research initiatives alone will not deliver new medicines to patients in the absence of strong incentives to bring new products to market. We examine the unique economics of precision medicines and associated biomarkers, placing an emphasis on the factors affecting their development, pricing, and access.

Keywords

Health Care and Treatment; Research; Economics; Motivation and Incentives

Citation

Stern, Ariel Dora, Brian M. Alexander, and Amitabh Chandra. "How Economics Can Shape Precision Medicines." Science 355, no. 6330 (March 17, 2017): 1131–1133.
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About The Authors

Ariel D. Stern

Technology and Operations Management
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Amitabh Chandra

Technology and Operations Management
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More from the Authors

    • February 2023
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    The Brigham and Women’s Hospital Innovation Hub: Driving Internal Innovation

    By: Ariel Dora Stern, Robert S. Huckman and Sarah Mehta
    • 2023
    • JAMA, the Journal of the American Medical Association

    Association Between Regulatory Submission Characteristics and Recalls of Medical Devices Receiving 510(k) Clearance

    By: Alexander O. Everhart, Soumya Sen, Ariel D. Stern, Yi Zhu and Pinar Karaca-Mandic
    • January 2023
    • Faculty Research

    Vertex and the Cure for Type 1 Diabetes

    By: Amitabh Chandra, William J Anderson and Silvia Mare
More from the Authors
  • The Brigham and Women’s Hospital Innovation Hub: Driving Internal Innovation By: Ariel Dora Stern, Robert S. Huckman and Sarah Mehta
  • Association Between Regulatory Submission Characteristics and Recalls of Medical Devices Receiving 510(k) Clearance By: Alexander O. Everhart, Soumya Sen, Ariel D. Stern, Yi Zhu and Pinar Karaca-Mandic
  • Vertex and the Cure for Type 1 Diabetes By: Amitabh Chandra, William J Anderson and Silvia Mare
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