Managing the innovation supply chain to maximize personalized medicine.
Publication/Presentation Date
2-1-2014
Abstract
Personalized medicine epitomizes an evolving model of care tailored to the individual patient. This emerging paradigm harnesses radical technological advances to define each patient's molecular characteristics and decipher his or her unique pathophysiological processes. Translated into individualized algorithms, personalized medicine aims to predict, prevent, and cure disease without producing therapeutic adverse events. Although the transformative power of personalized medicine is generally recognized by physicians, patients, and payers, the complexity of translating discoveries into new modalities that transform health care is less appreciated. We often consider the flow of innovation and technology along a continuum of discovery, development, regulation, and application bridging the bench with the bedside. However, this process also can be viewed through a complementary prism, as a necessary supply chain of services and providers, each making essential contributions to the development of the final product to maximize value to consumers. Considering personalized medicine in this context of supply chain management highlights essential points of vulnerability and/or scalability that can ultimately constrain translation of the biological revolution or potentiate it into individualized diagnostics and therapeutics for optimized value creation and delivery.
Volume
95
Issue
2
First Page
113
Last Page
118
ISSN
1532-6535
Published In/Presented At
Waldman, S. A., & Terzic, A. (2014). Managing the innovation supply chain to maximize personalized medicine. Clinical pharmacology and therapeutics, 95(2), 113–118. https://doi.org/10.1038/clpt.2013.228
Disciplines
Business Administration, Management, and Operations | Health and Medical Administration | Management Sciences and Quantitative Methods
PubMedID
24448453
Department(s)
Administration and Leadership
Document Type
Article