On behalf of the Personalized Medicine Coalition, I am pleased to provide an update on the state of the Coalition as we celebrate PMC’s 20th anniversary this year.
The steadfast support of PMC’s members two decades after its founding in 2003 continues to provide increasing ballast and strength for PMC’s programs in education, advocacy, and evidence development.
Based on a predictable stream of about $2 million in annual membership revenues from a diverse base of institutions representing multiple business sectors in health care, PMC budgets every year for robust and impactful advocacy activities in public and science policy. It also publishes multiple communications materials that help educate providers, policymakers, payers, and patients about the importance of personalized medicine. As evidenced, for example, by the formation of a Congressional Personalized Medicine Caucus that doubled in size last year, our efforts to advance the power of personalized medicine to improve health care are increasingly successful.
This year, PMC is also raising funds to support its work on the 17th Annual Personalized Medicine Conference as well as four research projects that will help inform the future advancement of the field. The four research projects include a new proposal for a provider partnership program designed to address the clinical practice gaps identified in its 2022 special report for JCO Precision Oncology, which showed that personalized medicine benefitted only 36 percent of a cohort of 38,068 advanced non-small cell lung cancer patients diagnosed in 2019.
The newly proposed program, titled Promoting Best Practices in Precision Oncology, would help close the gap between what is possible and what is practiced in modern medicine. The initiative promises to save lives and inspire investor confidence in the returns that can be gained from supporting companies focused on developing new tests and treatments to improve patient outcomes.
In keeping with the increasing costs of business and with programmatic expansions that are delivering an increased dollar-for-dollar impact for patients, health systems, and the Coalition’s members, PMC will likely institute a 10 percent increase in membership dues next year.
To learn more about our preliminary plans for 2024 and to prepare a budget for supporting PMC’s activities next year, I encourage you to contact PMC’s Vice President for Membership and Development, Kayla Smith, at email@example.com at your earliest convenience.