Question

1. Discuss two primary applications of pharmacoeconomic principles and methods to "real world" pharmacy practice environments

2.Why do we need to conduct a pharmacoeconomic research?

Answer 1

1) Pharmacoeconomics is a branch of health economics .lt deals with the description and analysis of the costs of drug therapy to health care system and society.

The discipline helps to decide which drug to develop. It enables us to estimate and understand the impact of new therapies. As a result, we will be able to make informed decision regarding appropriate use of a drug which have been developed.

Following are two primary applications of Pharmacoeconomics in real world pharmacy practice environment.

* in today's world practitioners should be able to justify the value of the product and services they provide. Applied pharmacoeconomics can provide the means for this valuation.

*Through the appropriate application of pharmacoeconomics, practitioners and administrators can make better, more informed decisions regarding the products and services they provide.

In short Pharmacoeconomics assists in formulary decision making and individual patient treatment decision.

2) Pharmacoeconomics reserach is getting popular in the countries all over the world. The need for such a research can be understood from the following points.

* pharmacoeconomic research makes use of the broad range of technique used in health economics evaluation to the specific conductance of medicines management.

* pharmacoeconomic research provides valuable insights to the drug or medicine while deciding among specific development alternatives.

* Pharmaco economics studies can be useful in designing a proper health insurance benefit coverage

* Goverment will be able to take better decisions regarding healthcare programs and their outcomes.

Pharmacoeconomic research can also aid decision - making in evaluating the affordability of and access to the right medication to the right patient at the right time.