Pharmacoeconomics
This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
|
Pharmacoeconomics refers to the scientific discipline that compares the value of one pharmaceutical drug or drug therapy to another.[1][2] It is a sub-discipline of health economics. A pharmacoeconomic study evaluates the cost (expressed in monetary terms) and effects (expressed in terms of monetary value, efficacy or enhanced quality of life) of a pharmaceutical product. Pharmacoeconomic studies serve to guide optimal healthcare resource allocation, in a standardized and scientifically grounded manner.
Economic evaluation
Pharmacoeconomics centers on the
In policy
In 1993,
Impact of pharmaceutical innovations
In the past 30 years, major pharmaceutical innovations have improved condition-related outcomes for six serious medical conditions: ischemic heart disease, lung cancer, breast cancer, human immunodeficiency virus (HIV) infection, type 2 diabetes mellitus, and rheumatoid arthritis (RA). [4]Spending on new pharmaceuticals and R&D, although expensive, is considered to bring net benefits, as it decreases overall health care costs. A study of 30 countries estimated that 73% of the increase in life expectancy in recent decades is due to new pharmaceuticals alone. Another study found that new drugs have reduced hospital usage by 25% per decade by replacing more expensive forms of care like surgery. It has been estimated that the cost per additional life-year gained thanks to pharmaceutical innovation was US$2,730, compared with US$61,000 for dialysis, a commonly used benchmark.[5]
See also
- Cost-effectiveness analysis
- Cost-utility analysis
- Health economics
- Health Technology Assessment
- ISPOR (also known as The Professional Society for Health Economics and Outcomes Research)
- Society for Medical Decision Making
- List of pharmaceutical companies
- Number needed to treat
- Number needed to harm
- PharmacoEconomics (journal)
- Quality-adjusted life year
References
Citations
- PMID 9357343.
- S2CID 23088517.
- ^ Deepak Bhosle, Asif sayyed*, Shaikh Huzaif, Alimuddin Shaikh, Vasundhara Bhople, Ayman Ali Khan.PHARMACOECONOMICS IN INDIAN CONTEXT. International journal of current pharmceutical and clinical research vol 7 issue 1 -2017 11-14 http://ijcpcr.com/download.php?id=262&f=1482469439(ijcpcr).pdf
- ISSN 1473-7167.
- ^ Post, Special to Financial (2020-02-05). "To save lives and money, Ottawa needs to make it more attractive for new drugs to come to Canada". Financial Post. Retrieved 2021-10-25.
Sources
- Rascati, Karen (2013). Essentials of Pharmacoeconomics. Philadelphia, PA: Wolters/Kluwer – Lippincott Williams & Wilkins. ISBN 978-1-4511-7593-6.