New today, lab industry and commercialization expert Perry Dimas interviews me on trends in personalized medicine.
Find it at the podcast, "PROMISE OF PERSONALIZED MEDICINE," available on most podcast apps. Direct links to Apple and Spotify are provided. The podcast runs 20 minutes.
I've clipped the episode description below.
Using genomics or other biomarkers to improve health care is the essence of Personalized Medicine according to today’s guest, Dr. Bruce Quinn. Moving forward with novel diagnostic testing could prove challenging for a variety of reasons, one of them being a disruption to the overall healthcare industry. If one test could replace multiple, costly tests, then the ROI for certain payors goes down.
Join us as we also discuss:
- The other challenges facing new tests
- Where test identifiers are heading
- The indirect interest of insurance sales
Dr. Quinn is the Principal at Bruce Quinn Associates LLC and is an expert in Medicare policy for innovative technology. His initial career was as a full-time medical school faculty member. Armed with an MBA in 2001, he shifted to a career in strategy consulting. He served as a regional Medicare Part B medical director 2004-2008. He has worked for a global consulting firm, Accenture, as well as for two DC-based health policy firms.
Since 2016, he has been an independent consulting primarily focused on genomics and digital technologies. His services include product planning and reimbursement pathways for innovators, as well as due diligence investigations for investors. His website on health policy and new technology, “Discoveries in Health Policy,” has had over a million views, holds 2000 articles, and has hundreds of subscribers from industry, academia, and government. Dr. Quinn is based in Los Angeles.
An AI summary of the podcast.
In this two-part podcast discussion, Perry Dimas introduces the topic of personalized medicine and its challenges in the diagnostic industry, particularly regarding its adoption and integration with health plans and insurance systems. The conversation features Dr. Bruce Quinn, who shares insights into the field of personalized medicine and its recent advancements.
Dr. Bruce Quinn defines personalized medicine as the use of genomics and biomarkers to enhance healthcare.
He discusses advances in personalized medicine over the last decade, focusing on cancer oncogenes and NIPT (Non-Invasive Prenatal Testing) as impactful areas.
The challenges in the personalized medicine industry are outlined, including its capital-intensive nature, extended timelines for adoption, and the importance of defining clear use cases.
Dr. Quinn introduces the concept of the "valley of death" between Medicare coverage and widespread commercial adoption.
The conversation touches on how health plans should collaborate with diagnostics companies and highlights the need for clear, understandable language.
Dr. Quinn emphasizes the importance of bridging the gap between industry and health plans for successful integration.
The discussion continues with a focus on test identifiers and their role in personalized medicine.
Dr. Quinn discusses the limitations of current test identifiers like CPT codes and Z codes, highlighting the need for a comprehensive patient profile.
They mention the challenges health plans face in dealing with the overwhelming influx of new diagnostics and the complexity of making high-quality decisions.
Dr. Quinn emphasizes the unique nature of selling diagnostic tests to health plans compared to traditional B2C or B2B sales.
The conversation explores the importance of educating health plans and building a mutual understanding of their needs and timelines.
Dr. Quinn expresses appreciation for the podcast's role in shedding light on the personalized medicine industry and helping it grow.
The podcast aims to educate listeners about the complexities and challenges of personalized medicine, especially regarding its integration into the healthcare system, health plans, and insurance coverage. It highlights the need for clear communication, collaboration between industry and health plans, and a comprehensive approach to diagnostic test identification and adoption.