Pharmacoeconomics What are health care outcomes: The end result of medical care: what happens to the pa ent Three outcomes categories: the six Ds o Clinical (Death, Disease) o Economic (Dollars) o Humanis c(Disability,Discomfort, Dissa sfac on) Di erent types of clinical outcomes: Intermediary clinical outcomes o Blood pressure cholesterol Pa ent oriented outcomes o Cure,diabe c re nopathy, death De ni ons: Health Economics applies theories, tools, and concepts of economics to health and health care outcomes. Assessment of the most e cient use of available resources, de ned in terms of cost and outcomes. "Pharmacoeconomics" is the applica on of health economic methods to pharmaceu cals or pharmacy services. Why? Annual healthcare costs con nue to rise and Us is really separated from other countries o Higher payments to hospitals and physicians and procedures o Prescrip on drug costs o Spending on health administra on is 4x more per person in the US than comparable countries In 2019, Annual US healthcare spending increased 4.6fi to reach $3.8 trillion, or $11,582 per person o Medicare spending grew 6.7fi to $799 billion TOP 4: HOSPITAL CARE Professional services (doctors, clinicians) Prescrip on drugs : Nursing care facili es 61fi of cost increases were due to hospital care, physician and clinical services, and prescrip on drugs Prescrip on Drug Spending: 3 Factors that Drive Growth: o Newly marketed drugs o Price changes of exis ng agents o Increases in u liza on
Pharmacists Role in Evalua ng Pharmacoeconomics and Outcomes: Op mizing medica on use and outcomes in individual pa ents while controlling costs (all se ngs). Op mize use cost and outcomes through Formulary and cQI ini a ves (hospitals and managed care) Iden fying, designing, execu ng, and assessing medica on-related interven on strategies (e.g. medica on synchroniza on, adherence interven ons, therapeu c interchange, etc.).
professionals, pa ents and admin What are health care costs? Expenses incurred, or the resources consumed, in the provision of health care Commonly used health care resources include: o Medica ons o Diagnos ctes ng Medical devices o Health care professional's me o Hospital stays The price of a drug (or any) product is not the same as its cost. In the US, there is no single source for obtaining health care costs. No single-payer system. What are charges? Charges are the amount a provider bills a pa ent or payer for a product/service Charge = cost +pro t: do not re ect the true cost of providing a produce Charged amount may not be equivalent to the reimburses amount Understanding RCCS;: RCC = Ra o of Cost to Charge RcCs are commonly used because post providers only provide charge data RCCs are used to es mate RCC costs RCC cost is usually calculated by o Charge for item x RCC = RCC cost RCC used = total loaded RCC The resultant "total loaded RCC cost" includes overhead and other expenses Types of Pharmacoencomic evalua ons: Cost Minimiza on Analysis Cost Be