Abstract

PHARMACOECONOMICS - A REVIEW

Malvey Anusha Shree and V. Asha Jyothi*

ABSTRACT

Pharmacoeconomics is the branch of economics that applies the cost-benefit, cost-effectiveness, cost-minimization and cost-utility analyses. Comparing the economics of different pharmaceutical products or a drug therapy to the non-drug therapy or treatment. Pharmacoeconomics is defined as the description and analysis of the costs of drug therapy to the health care system and society. Pharmacoeconomic identifies, measures and compare the resources cost and clinical, economic and humanistic consequences. The research methods include cost minimization, cost-effectiveness, cost benefit, cost of illness, cost utility, cost consequences and decision analysis. It focuses on cost and benefits of drug therapy. The review article emphasize on the pharmacoeconomic needs, methods, aim and challenges.

Keywords: Pharmacoeconomics, cost effectiveness, cost benefit, cost minimization, cost utility.