Investigation Toward The Economic Feasibility of Personalized Medicine For Healthcare Service Providers: The Case of Bladder Cancer

• URL: http://arxiv.org/abs/2308.07924v1
• Date: Tue, 15 Aug 2023 17:59:46 GMT
• Title: Investigation Toward The Economic Feasibility of Personalized Medicine For Healthcare Service Providers: The Case of Bladder Cancer
• Authors: Elizaveta Savchenko, Svetlana Bunimovich-Mendrazitsky
• Abstract summary: We investigate the economic feasibility of implementing personalized medicine. Unlike conventional binary approaches to personalized treatment, we propose a more nuanced perspective by treating personalization as a spectrum. Our results show that while it is feasible to introduce personalized medicine, a highly efficient but highly expensive one would be short-lived.
• Score: 0.0
• License: http://creativecommons.org/licenses/by-nc-sa/4.0/
• Abstract: In today's complex healthcare landscape, the pursuit of delivering optimal patient care while navigating intricate economic dynamics poses a significant challenge for healthcare service providers (HSPs). In this already complex dynamics, the emergence of clinically promising personalized medicine based treatment aims to revolutionize medicine. While personalized medicine holds tremendous potential for enhancing therapeutic outcomes, its integration within resource-constrained HSPs presents formidable challenges. In this study, we investigate the economic feasibility of implementing personalized medicine. The central objective is to strike a balance between catering to individual patient needs and making economically viable decisions. Unlike conventional binary approaches to personalized treatment, we propose a more nuanced perspective by treating personalization as a spectrum. This approach allows for greater flexibility in decision-making and resource allocation. To this end, we propose a mathematical framework to investigate our proposal, focusing on Bladder Cancer (BC) as a case study. Our results show that while it is feasible to introduce personalized medicine, a highly efficient but highly expensive one would be short-lived relative to its less effective but cheaper alternative as the latter can be provided to a larger cohort of patients, optimizing the HSP's objective better.

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