Specialized Insurance Keeps Step with Technology Advances that Helps Personalize Treatment to Patients

Medical science has and continues to evolve away from a one-size-fits-all approach and now towards an individualized treatment approach. Tools are being developed to help formulate specific treatment plans based on the individual patient including information from their genetic makeup, the genetic makeup of their disease or their lifestyle. Through diagnostic testing, digital health, targeted therapeutics, or a combination of these, more information is readily available on a patient’s specific condition and their specific treatment regimen. These personalized medicine areas include:

1. Next generation DNA sequencing: The speed and efficiency of NGS allows for the identification of a patient’s specific gene sequence, or the sequence of their specific cancer cells. Since genes encode for proteins, which can be used as biotherapeutics, this information is critical for developing highly effective treatments.

2. NGS generates terabytes of data. Capturing, analyzing, and interpreting that information whether it is for a single patient or for a global database, requires the science of bioinformatics.

3. Pharmacogenomics and Diagnostic Testing: Which looks at how your DNA affects the way you respond to drugs. In some cases, your DNA can be responsible for a drugs helpful response, a bad reaction, or no effect at all. This can help with individualized dosing or targeted therapeutics.

4. Gene therapy: Therapies that seek to manipulate genes to correct an underlying genetic disease

5. Cell therapy: Including autologous and allogenic, stem cell and non-stem cell treatments

6. Regenerative medicine: Seeks to regenerate or replace tissue or cells

7. Digital health:
   Remote monitoring and data aggregation used as a tool for decision making. Patients can be more closely monitored, and progress can be more easily tracked.
   
   Digital diagnostics such as heart flow imaging or remote heart monitoring can result in better insight on a patient’s cardiovascular health.
   
   Telehealth

From an insurance perspective this means brokers and carrier partners need to understand the unique needs an insured might have and address these through specialized insurance products and coverages. For example, Intact’s Medical Technology Solutions policy, which combines PCO, E&O and Cyber, helps address the needs of insureds whose product is a software based medical device that might also be storing or transmitting PHI (Personal Health Information). We’ve also developed a specialized endorsement for lab-developed diagnostic tests helps address overlap in the technology between a medical product and a medical service.

To learn more about how Intact Insurance can help you with your medical technology/life sciences insurance needs, please contact Naomi Git at ngit@intactinsurance.com.

This article is provided for general informational purposes only and does not consistue or is not intended to replace legal or risk management advice. If there is a discrepancy between the information provided here and the policy, the policy will govern. Intact hereby dislclaims any and all liability arising the information contained herein.

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