One of healthcare’s unheralded stories is good news for molecular and genetic testing laboratories, along with hospital and health system labs that already have instruments capable of performing these tests! Day-by-day, ever more physicians begin to include elements of precision medicine in their clinical practice, thus requiring them to use molecular and genetic tests.
Physician demand for these tests is robust and will continue to increase for a powerful reason: patients want the benefits from a diagnostic test that delivers a more accurate diagnosis while pointing the doctor to the right therapy that will benefit the patient while minimizing side effects.
These are just two reasons why it is imperative that every clinical laboratory and pathology group have a strategy for how it will serve precision medicine. Tests in support of precision medicine will be the fastest-growing sector of laboratory medicine for years to come. That’s why labs need a strategy that addresses these elements:
- Which type of precision medicine tests will the lab emphasize?
- Can it run these tests on existing lab analyzers, or will it need to acquire new instruments?
- Are there existing physician-champions of precision medicine in the lab’s service area who are respected as clinical leaders and willing to share their patient care successes with colleagues?
- Can the lab profitably collaborate/partner with labs and companies that already have proven assays, robust informatics capabilities, and similar tools needed to provide tests that support precision medicine?
- Are there payers in the lab’s regional market that have existing coverage guidelines for the types of precision medicine tests the lab wants to provide? Are the targeted types of precision medicine tests covered by existing managed care contracts?
These important questions are among the topics covered in the "What Molecular and Genetic Testing Labs Need to Know to Succeed with Commercialization of Their Precision Medicine Products" webinar hosted by Dark Daily.
VP & General Manager of Diagnostic Services
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