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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.
OMICS Group International is a pioneer and leading scientific event organizer, publishing around 400 Open access journals and conducting over 300 Scientific Meetings all over the globe annually with the support of more than 1000 scientific associations, 30,000 editorial board members, and 3.5 million followers to its credit. Raising its curtains in the year 2007, OMICS Group International aims to disseminate knowledge with the help of its Open access Journals and marches on to instigate OMICS Group International Conferences in the year 2010, to provide a meaningful platform for the world renowned scientists, researchers, students, academicians, institutions, entrepreneurs and industries through its scientific events annually throughout the globe.
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This page was last updated on 20th Nov, 2014
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