While the prospect of covering the cost for precision medicine is daunting for payers, there has been some movement in the industry to bring more value into the fray.
The American Medical Association has called for more progress toward new policies which boost transparency around genetic testing coverage, according to a Health IT Analytics report.
“Precision medicine tests, technologies and therapeutics are increasingly being adopted into clinical practice as evidence of their effectiveness grows,” Board Member William Kobler said at an AMA meeting. “However, many patients do not have access to precision medicine because most public and private health insurers do not offer coverage for genetic or genomic services unless certain clinical criteria and evidentiary standards are met.”
The issue has also been taken up by legislators through the 21st Century Cures Act, but Rep. Eric Swalwell says the legislation is incomplete. His new bill, the Advancing Access to Precision Medicine Act, aims to address this.
“It’s time to use technology to transform our health care system to focus on the uniqueness of every patient — this is the future of medicine,” Swalwell said.