Pharmacoeconomics - India Research
Pharmacoeconomics is a part of health economics and is focused almost exclusively on drug therapy. It basically makes a comparison between one type of drug therapy with another. The basic objective of a pharmacoeconomic study is to assess the cost and the effectiveness of pharmaceutical products. Ph...
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Pharmacoeconomics is a part of health economics and is focused almost exclusively on drug therapy. It basically makes a comparison between one type of drug therapy with another. The basic objective of a pharmacoeconomic study is to assess the cost and the effectiveness of pharmaceutical products. Pharmacoeconomic studies tend to find out if the cost of a drug in monetary terms justifies the effectives of the drug in enhancing the quality of the patient’s life. Cost-minimization analysis, cost-effectiveness analysis and cost-benefit analysis are some of the different types of pharmacoeconomic studies.
Pharmacoeconomics is particularly important after the development of a new drug by pharmaceutical companies, who use it to judge the new product’s cost-effectiveness. In recent years, pharmacoeconomics has become essential in judging the cost-effectiveness of drugs with regard to patients who have chronic lifestyle diseases and consume drugs on a long-term basis. In India, pharmacoeconomic studies are very essential to find out the extent to which the best possible therapy can be applied for the lowest possible price.
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Pharmacoeconomics - All India Research
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