Precision Medicine Readiness Principles Resource Guide

The guide outlines the 'innovation loop' required for precision medicine readiness, focusing on four pillars: innovation governance (open science, IP, and regulatory processes), innovation financing (fiscal space, venture capital, and value-based payment models), community and partnerships (biotech clusters and PPPs), and workforce infrastructure (physician champions and learning healthcare systems).

• Open science can accelerate precision medicine by promoting transparent data sharing and reducing the high costs and uncertainties associated with standalone genomics research and development.
• Intellectual property (IP) protections provide necessary economic incentives for commercialization, but policies must include exclusive right expiries to ensure knowledge eventually enters the public domain.
• Expanding fiscal space for health in low- and middle-income countries is driven more effectively by macroeconomic growth, budget reprioritization, and efficiency improvements than by earmarked funds or development assistance for health.
• There is a significant lack of venture capital (VC) investment in precision medicine within low- and middle-income countries due to uncertain risk profiles, insufficient infrastructure, and limited exit opportunities for investors.
• Innovative financing instruments specifically for precision medicine do not currently exist; most existing mechanisms focus on vaccine-preventable diseases, HIV/AIDS, tuberculosis, and malaria.
• Managed Entry Agreements (MEAs) and Performance-Based Risk-Sharing Agreements (PBRSAs) allow payers to provide early access to precision medicine technologies while managing financial and performance uncertainty by tying payment to measured outcomes.
• Coverage with Evidence Development (CED) is critical for precision medicine because it allows for early adoption and funding of promising innovations even when robust data from large-scale randomized control trials are unavailable.
• Biotechnology clusters, whether formed spontaneously or driven by government policy, foster innovation by linking companies with research centers, universities, and financial resources.
• The adoption of precision medicine within health systems is often driven by 'physician champions' who act as boundary spanners, linking internal institutional networks with external information.
• A learning healthcare system integrates science, informatics, and culture to ensure that new knowledge is captured as a by-product of care, allowing novel findings to be seamlessly incorporated into standard clinical practice.

APA

World Economic Forum (2020). Precision Medicine Readiness Principles Resource Guide. http://www3.weforum.org/docs/WEF_Resource_Guide_Innovation_Loop_2020.pdf

Chicago

World Economic Forum. Precision Medicine Readiness Principles Resource Guide. 2020. http://www3.weforum.org/docs/WEF_Resource_Guide_Innovation_Loop_2020.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Precision Medicine Readiness Principles Resource Guide |date=October 2020 |url=http://www3.weforum.org/docs/WEF_Resource_Guide_Innovation_Loop_2020.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2020precision, author = {{World Economic Forum}}, title = {{Precision Medicine Readiness Principles Resource Guide}}, institution = {World Economic Forum}, year = {2020}, month = oct, url = {http://www3.weforum.org/docs/WEF_Resource_Guide_Innovation_Loop_2020.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }