PACEOMICS – Personalized, Accessible, Cost-Effective Applications of ‘Omics Technologies
Personalized Medicine (PM) – patient diagnosis, treatment and management based on ‘omics information – promises to revolutionize and drive increased efficiencies in health care. The Canadian government has invested more than $2 billion in PM research and development. Despite this, and similarly large investments in other developed economies, very few PM technologies have been implemented in the Canadian health system.
Achieving the expected social return on the national investment in PM requires effective and efficient adoption of novel technologies and services into health care systems and the broader market place. In the context of health care budgets already stretched by the needs of an aging population, implementation of PM will only be feasible if it is demonstrably more effective and efficient than what it replaces. PM will fail if policy, laws and economic incentives are not aligned.
PACEOMICS will develop processes and analytical tools to support public and private sector stakeholders to realize the potential of Personalized Medicine in Canada and around the world.
PACEOMICS brings together a team of researchers in economics, law, health technology assessment, and ethics at the University of Alberta and McGill University.
PACEOMICS is funded by Genome Canada, Genome Alberta, the Canadian Institutes for Health Research, Alberta Innovates – Health Solutions and Genome Quebec.