PharmacoEconomics

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Pharmacoeconomics

Historical Perspective-Pharmacoeconomics
• 1960s – Clinical Pharmacy
• 1970s – Develop “Pharmacoeconomics”
 McGhan, Rowland, Bootman, 1978
 Use the concept of cost benefit analysis to evaluate the clinical pharmacy intervention.
• 1980s – Define “Pharmacoeconimics”
 Townsend, 1987
 Post Marketing Drug Research & Development
 The actual term “Pharmacoeconomics” was introduced in the literature
• 1990s – Incorporate “Pharmacoeconomics” at PharmD. Professional Education
 Incorporated “PE” in PharmD. Curriculum
 Emphasize on:
1. Research methods
2. Application evaluating (pharmaceutical services & drug therapy)

Definition – Pharmacoeconomics
• Townsend RJ, Drug Intell Clin Pharm., 1987
• The description & the analysis of the cost of drug therapy to health care system & society.
• The tool used to identify, measure, & compare the lost, risks, and benefits of pharmaceutical programs, services, and therapy.

PE & Pharmacists
• Can assess the value of the products & services that pharmacists provide
• Can assist in choosing between competing treatment alternatives
• Can provide data necessary to make better medication use decisions
• Can assist pharmacist in balancing cost with quality

Economic evaluation
• 3 fundamental questions
o What is the perspective of the evaluation?
o Is there a comparison of two or more alternatives?
o Are both costs and consequences of the alternative examined?

Cost and Consequence
• Cost – the evaluation of the resources consumed by a program or drug therapy of interest
• Consequence – the effect, outputs, or outcomes of the program of drug therapy of interest
• Example: Drug therapy
o Clinical:
• Does the drug work?
• Any side effect...