Final Lecture 1 Pharmacoeconomic
Changing healthcare Pharmaceutical and other therapeutic intervention have contributed to the important progress being made in the health status of the United States population Rapidly changing healthcare marketplace has lead to more expensive treatment. There is presumed danger that the change will be driven primarily by the desire to contain cost Cost containment is an important objective. It also need to maintain the quality of care
Growing interest in economic evaluation Remember- economic: is about trade off and choices between wants, need, and the scarcity of resources to fulfill these want
Health care provider has a similar economic problem of trade- off between cost, and quality of care, and limited health care resources This had led to an increased interested in the economic evaluation of healthcare intervention and program Economic-healthcare economic->outcome research- pharmacoeconomic
Outcome research Healthcare economic includes a broad range of topic, including supply and demand for healthcare resources, effect on health insurance, manpower supply Outcome research: is the scientific study of the effect of healthcare services on individual of the society It may include not only and economic consequences but also includes patient's health status and satisfaction with their healthcare
Pharmacoeconomic Is a specific form of outcomes research that is restricted to pharmaceutical Pharmacoeconomic identifies, measures and compare the cost (resource consumed) and consequence (clinical, economic and humanistic outcome) of pharmaceutical products and services It examines impact of alternative drugs therapies and other medical intervention
Outcomes Clinical outcome: clinicians are traditionally focused on the pharmacological effects of the treatment. Example are morbidity, mortality specific clinical indicator
Economic outcome: healthcare payer of administrator (even many patients) are more focused on the economic associated with the treatment (indirect cost and tangible cost)
Humanistic outcome: are the consequences of disease or treatment on patient functional status or quality of life such as their physical health, mental status, and social functioning
As patient are becoming more knowledgeable and involved in decision regarding their healthcare treatment, they seek more information about the treatment and its effect (humanistic outcome of the therapy)
Methods of pharmacoeconomic analysis CEA - cost effectiveness analysis
Compares two or more treatment options of term of monetary cost per units of effectiveness for a specific condition Costs are calculated in monetary value. Outcome are measured in natural units such as cholesterol level, mmHg, numbers of years of life saved Advantage: outcome are easier to quantify, clinical are familiar with a the type of health outcome measured in CEA Disadvantage: programs with different types of outcomes cannot be measured. For example you cannot compare the outcome of an antihypertensive drug with the outcome of a asthma product
CMA- cost minimization analysis Used if two alternative therapies are determined to be the same, essentially, CMA searches for the least cost alternatives
It is a special case of CEA, after determining the effectiveness of the treatment, this method determines which treatment minimize cost This method is often used to compare between brand and generic prescription drugs Advantage: simplest meth