Consumer Behavior in the New Economic Reality. Approaches to Personalized Medicine: From Paradigms to Challenges

Abstract

Introduction: Lately, various tendencies to approach personalized medicine (PM) have developed. However, their result is a mutual application of technology without considering the essence of this field. The comprehensive approach to the concept of PM reveals some aspects that need to be dealt with for a successful implementation.

Aim: Identifying possible ways of implementing PM through person-centered care, with an overall positive economic impact, improved medical services, and customer satisfaction.

Methods: The research carried out represents a retrospective descriptive cross-sectional study. Qualitative and quantitative methods were used.

Findings: PM plays an increasingly important role in the political agenda of different countries, to approve an effective method of prevention, diagnosis, and treatment of various diseases. The postponement of its implementation by the authorities and the lack of public policies lead to the unjustified expenditure of public money and contribute to halting the development of the medical system through managerial inefficiency.

The originality of the study: Different approaches to PM and its implementations are analyzed in the context of the challenges of the contemporary economy.

Implications: The research is carried out in the Academy of Economic Studies of Moldova within the state research programs.

Citation

Jucov, A., Staver, L. and Mistrean, L. (2022), "Consumer Behavior in the New Economic Reality. Approaches to Personalized Medicine: From Paradigms to Challenges", Grima, S., Özen, E. and Gonzi, R.E.D. (Ed.) Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems: Decision and Control Allocations within New Domains of Risk (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 67-80. https://doi.org/10.1108/978-1-80117-139-720211004