NEWS & V IEWS part of ISSN 1741-0541 10.2217/PME.13.31 © 2013 Future Medicine Ltd Personalized Medicine (2013) 10 (4), 333–337 333 NEWS & V IEWS NEWS & V IEWS NEWS & V IEWS The Center for Business Models in Healthcare (CBM-HC; IL, USA [101]) was founded in 2006 by CB Weldon and J Trosman. The founders previously ran a boutique management consulting firm, Executive Frameworks (IL, USA), provid- ing business and decision-making advisory services to large payers. Within this line of work, in 2004–2005, they conducted a research project in collaboration with Alicia Loffler of Northwestern University (IL, USA) to explore the impact of the emerging field of personalized medicine on US payers and care providers. The study revealed a complex mix of barriers posed by the US care delivery and reimburse- ment system to adoption of personalized medicine. Weldon and Trosman discussed study results with the executive teams of several major health plans and outlined a strategy for how the payers may prepare for integrating personalized medicine in coverage, payment and benefit designs, to benefit their members, employer customers and their own companies. Despite payer receptiveness, these discussions made it evident that adoption of personalized medicine could not be addressed by payers alone, as it requires cohesive interrelated changes in reimbursement, care delivery, patient involvement and product develop- ment strategies. However, there was a lack of mechanisms and forums for all relevant stakeholders to devise and implement collaborative solutions. Captivated with the promise of personalized medicine and determined to contribute to its adoption in healthcare, Weldon and Trosman founded the CBM-HC and became its codirectors. CBM-HC is devoted to transforming healthcare into the 4R Model © – Right Information and Right Care to the Right Patient at the Right Time. What needs CBM-HC is addressing Since CBM-HC’s inception in 2006, the field of personalized medicine has progressed significantly, but three broad needs remain unaddressed:  Understanding barriers to adoption;  Developing solutions to barriers;  Applying a multidisciplinary approach that benefits all stakeholders. CBM-HC’s efforts are directed toward addressing these needs, as described below. Although barriers to the adoption of personalized medicine are broadly discussed, continuing innovation brings new and unique challenges. These challenges are driven by differences in diseases, patient populations and utility of diagnostics. For example, a disease- monitoring test in chronic myeloid leukemia faces different adoption challenges to a new molecular marker in lung cancer or a prognostic test in cardiovascular disease. A Company Profile Center for Business Models in Healthcare The Center for Business Models in Healthcare (CBM-HC; IL, USA) is an independent investigator firm conducting health services research and facilitating collaborative interventions focused on personalized medicine and personalized healthcare. CBM-HC’s objective is to encourage the adoption of personalized medicine in care delivery and reimbursement. CBM-HC’s work focuses primarily on oncology, but also includes autoimmune, cardiovascular and other diseases. CBM-HC conducts studies of barriers to adoption of personalized medicine in care delivery and reimbursement, and facilitates development and implementation of solutions to these barriers in the form of care delivery interventions, and new models of coverage and reimbursement. This work is conducted using the 4R Framework © developed by CBM-HC – Right Information and Right Care to the Right Patient at the Right Time. The framework allows the examination and addressing of complex interdependent barriers to personalized medicine arising from care delivery and reimbursement. CBM-HC conducts its work in collaboration with several noted academic centers and via its network of other stakeholders, including health systems, patient advocates, payers and product developers. Julia R Trosman* 1,2,3 & Chrisne B Weldon 1,2 1 Center for Business Models in Healthcare, 2705 West Agate Avenue, Suite 200, Chicago, IL 60625, USA 2 Feinberg School of Medicine, Northwestern University, Evanston, IL, USA 3 Department of Clinical Pharmacy, University of California, San Francisco, CA, USA *Author for correspondence: Tel.: +1 224 619 2900 trosman@centerforbusinessmodels.com