- White paper reviews health and economic opportunities within the sector, including insights from leading industry experts
- Findings demonstrate the importance of integrating drugs and devices with patient-led digital experiences to accelerate healthcare toward accessible precision medicine and personalized dose optimization
- Authors of the report include Dr. Paul Goldsmith and Dr. Hakim Yadi
London, UK, 16 November 2022: Closed Loop Medicine Ltd., a leading TechBio company developing combination prescription drug plus software therapy products that enable personalized dose optimization, today has issued the white paper “One Size Doesn’t Fit All:
A New Age in Healthcare” to review current healthcare needs and the future of digitization. Substantiated by a range of key opinion leaders within healthcare, academia and business, the report collates expert insights and market research across digital health technologies, health equity, and financial projections.
Modern healthcare is entering a new ‘personalized’ age, thanks to global advances in digital health technologies enabling decentralized data acquisition and real-time processing. These new technology solutions are increasingly challenging the historical disease- and symptom-management paradigm by enabling the use of real-world data and greater patient engagement alongside traditionally prescribed therapeutics, better informing research and development pipelines, as well as real-world care delivery. The true convergence of these two worlds, ‘Tech’ and ‘Bio’ has the potential to accelerate the movement toward accessible precision medicine and personalized dosing optimization, whilst offering necessary support to healthcare providers.
In 2016, the US annual cost of drug-related morbidity and mortality resulting from non-optimized medication was estimated to be $528.4 billion, demonstrating the devastating effect treatment mismanagement can have on both society and the economy1. Stakeholders across biopharma and medtech, are realizing the potential of healthcare digitization, paired with worldwide demand for more advanced and personalized care. In response, Dr. Paul Goldsmith and Dr. Hakim Yadi, co-founders of Closed Loop Medicine, report on the potential of software integration to support more effective, precise, and affordable disease management solutions to improve outcomes for patients and clinicians. The white paper incorporates expert insights and critical appraisal to outline key considerations for keeping pace with evolving market trends and modernize outdated business models and healthcare to fuel economic growth.
David Van Sickle, Co-Founder and previously CEO of Propeller Health, Non-Executive Director, Closed Loop Medicine, said: “Historically, we’ve studied and prescribed medications for their average effects in a population, rather than how they perform for each individual in daily life. With new technologies, we’re likely to realize the benefits of personal optimization in dosing.”
Dr. Paul Goldsmith, Chief Medical and Innovation Officer, Co-Founder and President of Closed Loop Medicine, commented: “The majority of drug interventions are approved based on the overall safety and efficacy demonstrated in large-scale clinical trials. In real life, however, drug efficacy and tolerability vary between groups, individuals and even in the same individual over time.”, he added, “Here, we do not only demonstrate the detrimental impact an impersonalized approach has on healthcare systems, but we also explore how dose optimization, through prescription of integrated software tools alongside traditional therapeutics, could improve efficacy and safety outcomes and provide significant cost savings for healthcare providers and payors.”
Dr. Hakim Yadi OBE, CEO and Co-Founder of Closed Loop Medicine commented: “Our vision in redefining precision medicine is that one size does not fit all when it comes to drug therapy. Our prescription drug plus software combination products, support personalised dose optimization and have the potential to provide bespoke universal healthcare access and improve outcomes for patients by enabling precision treatment decisions at an individual level”
For more information, and free download of the white paper “One Size Doesn’t Fit All: A New Age in Healthcare”, please visit: www.closedloopmedicine.com/white-paper/
- Watanabe JH, McInnis T, Hirsch JD. Cost of prescription drug–related morbidity and mortality. Annals of Pharmacotherapy. 2018;52(9):829-837.