Authors :
Apoorva Mahendrakar; Hrithik Ajja; Aashutosh Sinwal; Ishu; Nisha; Priyanshi Jain
Volume/Issue :
Volume 9 - 2024, Issue 3 - March
Google Scholar :
https://tinyurl.com/4brpmas6
Scribd :
https://tinyurl.com/uxh8r277
DOI :
https://doi.org/10.38124/ijisrt/IJISRT24MAR1293
Abstract :
Pharmacoeconomics is the study of the cost-
effectiveness and accessibility of pharmaceutical
treatments from the perspective of both individuals and
the healthcare system as a whole. This field can help
policymakers and healthcare providers make more
informed decisions about patient care. The field of health
economics saw its inaugural publication in 1973, while
the idea of cost-benefit and cost-effectiveness analysis
was originally put forth by University of Minnesota
researchers McGhan, Rowland, and Bootman in 1978. In
pharmacoeconomics, four main categories exist cost-
utility analysis, cost-minimization analysis, cost-benefit
analysis, and cost-effectiveness analysis.
Pharmacoeconomics was originally an applied discipline.
Because of their relative youth, health economics, and
pharmacoeconomics are still in the process of refining
and evaluating their methods. Health economics has a lot
of issues that make it hard to use in real life. The field of
pharmacoeconomics offers valuable insights that
healthcare practitioners can use in their practice. Drug
policy and clinical decision-making are both aided by
pharmacoeconomics.
Keywords :
Pharmacoeconomics, Cost-Minimization Analysis, Cost-Utility Analysis, Cost-Effectiveness Analysis, Cost-Benefit Analysis, Quality-Adjusted Life Years.
Pharmacoeconomics is the study of the cost-
effectiveness and accessibility of pharmaceutical
treatments from the perspective of both individuals and
the healthcare system as a whole. This field can help
policymakers and healthcare providers make more
informed decisions about patient care. The field of health
economics saw its inaugural publication in 1973, while
the idea of cost-benefit and cost-effectiveness analysis
was originally put forth by University of Minnesota
researchers McGhan, Rowland, and Bootman in 1978. In
pharmacoeconomics, four main categories exist cost-
utility analysis, cost-minimization analysis, cost-benefit
analysis, and cost-effectiveness analysis.
Pharmacoeconomics was originally an applied discipline.
Because of their relative youth, health economics, and
pharmacoeconomics are still in the process of refining
and evaluating their methods. Health economics has a lot
of issues that make it hard to use in real life. The field of
pharmacoeconomics offers valuable insights that
healthcare practitioners can use in their practice. Drug
policy and clinical decision-making are both aided by
pharmacoeconomics.
Keywords :
Pharmacoeconomics, Cost-Minimization Analysis, Cost-Utility Analysis, Cost-Effectiveness Analysis, Cost-Benefit Analysis, Quality-Adjusted Life Years.
