President Obama released his 2016 budget on Monday, and much to both the Republicans’ and Democrats’ pleasure, he’s allocated $215 million to his “Precision Medicine Initiative.”
Sounds impossible, I know. But it’s true. Both Republicans and Democrats see value in the initiative because it’s designed to provide physicians better tools to diagnose and treat patients. Ultimately this will save more lives while also saving health care costs…. making everyone happy.
And this couldn’t happen fast enough.
Despite all the advances in modern medicine, the health care community still wastes billions of dollars by running patients through “one-size-fits-all” diagnosis and treatment approaches (never mind the other huge issues making the industry a nightmare that patients must stumble through, as Rodney explained yesterday).
Precision medicine takes a different approach. It first accounts for differences in each patient’s genes, environment, and lifestyle. Then it custom tailors medicine to a patient’s genome (sum of all of your DNA), resulting in more effective treatments. This is stuff right out of science fiction books. It’s never been done before.
But why not?
Quite simply: this form of disruptive technology was not economical until now, like farmers not having the resources to leverage machines before the industrial revolution. Thankfully, we’re now going through another society- and life-changing revolution in supercomputing, machine learning, and biotechnology hardware.
Thanks to advances in technology, the cost of sequencing a single human genome has fallen from $100 million in 2001 to about $1,000 today, and will probably cost as much as a simple blood test by 2020.
This advanced analysis capability, combined with the fact that we’re all turning into big walking sensors with our smart phones, smart watches, and fitness trackers, gives the medical community a custom tailored, real-time diagnosis and treatment reporting capability like never before.
In turn, that gives us opportunities to invest in and profit from such amazing developments. And that’s what I do for my Biotech Intel Trader subscribers. I follow the industry trends and advancements (and yes, even setbacks) and then I give readers specific trade details so they can take advantage.
You should give it a try. But before you do, look out for my Ahead of the Curve article next Friday. I’ll show you what will happen next in the precision medicine initiative and how I can use that to help you make profitable investments.