How to evaluate incremental value of new bio- and genetic markers over the conventional risk factors/markers for better prediction of patient's clinical phenotypes?

Abstract

Recent technology advancements for obtaining bio- and genetic-markers have drastically enhanced the knowledge of certain disease processes and the potential for accurately predicting patient's clinical outcomes. Traditional statistical methods for the so-called individualized/personalized medicine with such markers are derived under a rather strong assumption, that is, one can accurately identify the true model (at least for the large sample case), which relates the predictors to their corresponding clinical phenotype variable(s).