This is a thought leadership article published by PharmaTimes, written by Vicki Anastasi, on the cost challenges of precision medicine for payers, patients and physicians, and strategies to overcome them, drawing on research from the recently published 'Looking Ahead: The Future of Device Developers in Precision Medicine' whitepaper. This article discusses how the solutions are two-fold; requiring implementation of technologies to enhance treatment efficacy, coupled with the optimisation of value-based models.