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Pharmaceutical economics measures, identifies, and compares the costs and consequences of drug therapy to healthcare systems and society. The perspective of a pharmaceutical economic evaluation is paramount because the study results will be highly dependent on the perspective selected. Health Care costs can be categorized as direct medical, indirect non-medical, intangible, direct non-medical, opportunity, and incremental costs. Economic, humanistic, and clinical outcomes should be considered and valued using pharmaceutical economic methods, to inform local decision making whenever possible. To compare various healthcare choices, economic valuation methods which are used, including cost-benefit, cost-minimization, cost-utility analyses, and cost-effectiveness. These methods all provide the means to compare competing treatment options and are similar in the way they measure costs. However, in their measurement of outcomes and expression of results. In today's healthcare, pharmacoeconomic methods can be applied for effective management, medication policy determination, individual patient treatment, and resource allocation. When evaluating published pharmacoeconomic studies, the following factors should be considered: study objective, pharmacoeconomic method, and study design, study perspective, choice of interventions, costs and consequences, discounting, sensitivity analysis, study conclusions, study results, and sponsorship. Both the use of economic models and conducting pharmacoeconomic analyses on a local level can be useful and relevant sources of pharmacoeconomic data.
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