Model yielded average cost savings per patient of $8,492 annually as well as an average annual wasted spend savings of $16,567
SAN DIEGO – July 19, 2021 – Mindera Corporation today announced that SKIN: The Journal of Cutaneous Medicine has published “An economic evaluation of the budget impact of precision medicine testing for the treatment of psoriasis”. The primary objective of this study was to determine the potential cost savings from a precision medicine approach in the selection of biologics for psoriasis patients. The evaluation projected the cost savings of multiple formulary scenarios, simulated through the Budget Impact Model (BIM). Based on the analysis of a subset of payers representing various formulary structures, the model yielded average cost savings per patient of $8,492 annually as well as an average annual wasted spend savings of $16,567 per patient.
“In the American Academy of Dermatology (AAD) and National Psoriasis Foundation (NPF) guidelines, we identified the need for biomarkers to predict patient response to therapy,” said Jashin J. Wu, MD, lead author of the study. “Having a test like Mind.Px will enable us to better select the appropriate biologic for our patients.”
“Healthcare systems are looking to precision medicine to improve patient outcomes while increasing physician and patient satisfaction. Importantly, these advances should provide significant savings and avoid wasted spending,” added George Mahaffey, President and CEO of Mindera. “Mindera is positioned to be the first to make precision medicine a reality in psoriasis and other chronic skin diseases to meet the needs of patients, physicians, and payers.”
The study can be found here: https://jofskin.org/index.php/skin/article/view/1316.
Mind.Px is the flagship test of Mindera Corporation. The Mindera platform uses a dermal biomarker patch that takes only minutes to extract vast transcriptomic information. Subsequent Next-Generation Sequencing of the extracted RNA allows Mindera scientists to take a genetic and transcriptomic snapshot of the skin. This rich patient-specific data set is then analyzed by machine learning algorithms to predict the appropriate biologic drug for an individual patient prior to therapeutic selection and treatment.
The ability to collect patient data at scale results in a powerful platform that unlocks cost savings for healthcare systems, particularly when applied to the prediction of response to hyper-expensive treatments. Biomarkers captured using the Mindera platform include DNA, RNA, protein, and small molecules.
Mindera is a private San Diego-area company developing and commercializing next-generation medical technology to enable a new era of skin analytics at the molecular level. Using a proprietary dermal biomarker patch, Next-Generation Sequencing (NGS) and Machine Learning, Mindera technology generates clinically validated data to reduce healthcare system costs and improve patient outcomes. Mindera is a CLIA and CAP certified Laboratory and has received ISO 13485:2016 certification. Find out more at www.minderadx.com.