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Top1. Introduction
Personalized Medicine, also called precision medicine, is an emerging revolutionary medicare system that bears the potential to take care of the needs, characteristics and preferences of individual patients. This Medicare system is supposed to take care of the patient, not only during his/her diagnosis and treatment of the disease, but also the follow-up action and the prevention of disease. In the Personalized Medicare system, there exist bright prospects of a priori categorization of a group of patients for all of whom the same treatment procedure will work. Thus in this new mode of clinical treatment is embedded the possibility of drastic reduction of expenditure of medicines as well as medicinal side effects.
The concept of Personalized Medicine is a new kind of clinical practice for having a better understanding of patients’ condition by predisposing a disease (NHMRC, 2011, Ginsburg and McCarthy, 2001, Ong et al., 2013). It intends to accomplish ideal restorative results to help doctors and patients choose better treatment approaches after knowing the genomic profile of the patient. Such methodologies may incorporate genomic screening programs which help the physician select the most suitable type of the medicine and its dose for a given patients’ group by diagnosing different types and sub-types of the disease (PMC, 2014).
Individuals vary from one another in various ways, e.g. their eating habits, mental anxiety and stress, exposure to ecological elements, and through their DNA. Their health/pathology can be affected due to these factors. Differences in genomic groups could enhance the risk of developing certain diseases, and the extent to which it advances. These variations of genomes also effect in the reaction of our body against a particular drug. Medical statistics reveal that in the conventional medicare system, for 40% patients asthma drugs are ineffective, diabetic drugs for 43% and anti-depression medicines for 38%. The rate of ineffectiveness may rise up to 75% for cancer patients (http//genetichealth.jax.org/personalisedmedicine/what-is/benefits.html). Personalized medicare systems expected hopes to develop new safe and effective treatments taking genomic variations of patients into account. Personalized medicare may incorporate the administration of drug therapy along with recommendations for lifestyle changes. This may cause reduction in the proneness of a particular disease also bring about a reduction in its impact.
Several changes are required to incorporate this new evolutionary medicare system. The general objective of the paper is to enhance the possibility of the implementation of the emerging Personalized Medicine framework. Specifically, an attempt has been made to address the research question: What are the critical changes required for the successful adoption of Personalized Medicine system in healthcare management? The paper is organized as follows. In Section 2, a review of the background, including discussion on related research of earlier researchers has been presented. The motivation of the present work is also mentioned in this Section. In section 3, we identified and developed a model for the critical changes required for successful implementation of PM. In Section 4, we have presented our research methodology. An appropriate discussion of the results of our statistical analysis is included in section 5. Finally, in Section 6, some conclusions based on the present study are drawn and some directions for future research have been suggested.