AltheaDX, www.altheadx.com a small innovative medical technology company recently introduced a genetic test providing patients and healthcare providers with a series of recommendations for the pharmaceutical treatment of pain, cardiovascular disease, and psycho-neurological disorders.
This relatively new but rapidly growing field of medicine called pharmacogenomics (PGx) has the potential to significantly reduce drug costs and improve the quality of care. PGx enables personalized therapeutic decisions for patients suffering from some of the most prevalent clinical conditions in the U.S
The U.S healthcare system is expected to spend $450 billion in 2022 on prescription drugs. Nearly 50 percent of the U.S. population and almost 90 percent of people 65 years and over, take at least one prescription drug. More than ten percent of the U.S population and almost 40 percent of people 65 years and older take five or more prescription drugs.
Some scientists believe that there are significant health concerns and unnecessary costs associated with the trial and error manner in which physicians prescribe drugs without prior knowledge of an individual patient’s genetic profile.
According to an article appearing in September-October 2015 issue of “The Small Business Advocate” published by SBA www.sba.gov, a patient under treatment for depression, migraines, and other pain was taking over a dozen different medications. After analyzing the situation, the scientists determined that the patient was on several medications that were not effective with his genetic profile and were causing migraines.
There are an estimated 100,000 deaths and more than two million serious adverse reactions attributable to prescription drug use in the U.S each year, at a cost to the healthcare industry exceeding $136 billion annually. Scientists estimate that genetics can account for up to 95 percent of variability in drug disposition which can cause 40 to 60 percent of adverse drug reactions.
NIH www.nih.gov has a group dedicated to pharmacogenomics and FDA www.fda.gov has begun labeling drugs with pharmacogenomics interactions where appropriate. With genetic information on patients, AltheaDX has been able to demonstrate success through cost savings and improved care.
AltheaDX currently seeks venture capital financing to cover the cost of additional clinical trials to demonstrate the cost-effectiveness of its products and to make sure that the market sees the value of pharmacogenomics.