Maxwell Arias And His Idea Of How Gene Therapy And It’s Financing Can Marry.
Maxwell Arias is a graduate of Wharton Business School at the University of Pennsylvania. He has been thinking about how to conquer many of the pressing health issues of our times. One such issue is how to finance gene therapy. What good is having a treatment if those who need it cannot access it? Having innovative young thinkers to weigh in on this critical healthcare issue is refreshing. Maxwell Arias and his generation must tackle these pressing issues on how to make the world a better place.
First, Maxwell Arias – What Is Gene Therapy?
In order to grasp a firm understanding of how gene therapy and it’s financing intersect, we must first understand what is gene therapy? According to the National Institute of Health, gene therapy is an experimental technique that uses genes to treat or prevent disease. Doctors can treat a disorder by inserting a gene into a patient’s cells as opposed to using drugs or surgery. This ideal is up and coming. There have been many innovations in the field, however, not all gene therapy regimens are readily approved and readily available at this time. However, some gene therapy regimens are ready to go.
According to britannica.com human gene therapy has been attempted on cells for diseases such as cystic fibrosis, cancer, adenosine deaminase deficiency, familial hypercholesterolemia, and severe combined immunodeficiency syndrome.
Many experts feel that gene therapy is so expensive, (gene therapy can cost millions of dollars for one individual over the course of their lifetime). Part of the expense can be attributed to how the price-setting strategy is approached. This is where gene therapy and finances intersect. Changing how gean therapy is priced can be a major factor in lowering its cost.
Maxwell Arias, In His Own Words About This Issue
Maxwell Arias has worked diligently in his studies and looks forward to the opportunity to put his hard work to practice. Maxwell Arias has offered the following regarding this issue.
“Customized cellular therapies like car-T cell therapy have demonstrated extreme efficacy at treating and curing numerous forms of cancer. Their prices are often prohibitive to most. These therapies should not be viewed as a health expenditure or cost but rather an INVESTMENT from the perspective of the consumer. Thus, there is a major unmet market need for FINANCING services tailored to individuals who need these treatments but cannot pay an upfront cost.” – Maxwell Arias
If the financial sector looked at marketing to consumers who need gene therapy in a different way it may alter their perception. Financing can become available for a sufferer to spend the exorbitant price if they looked at the therapy as an investment.
A monetary value cannot be placed on human life. Understanding finances. pricing strategy and how they impact the pharmaceutical industry and therapies, such as gene therapy will help people make better decisions and change policy. Maxwell Arias has put himself in the position of leading the conversation on this controversial issue.