Concept of Pharmacoeconomics and Assessment Techniques

Question 1

Define pharmacoeconomics and its importance in healthcare

Answer 1

pharmacoeconomics= measure and compares costs and consequence of pharmaceutical products and services

importance = form economic relationship b/t research production distribution storage pricing and further use by people

Question 2

Outline the main techniques used in pharmacoeconomics

Answer 2

cost minimisation, cost effectiveness, cost benefit and cost utility analysis.

pharmacoeconomic analyses are available: COI analysis, cost analyses, CEA, CUA, CMA, CBA

Question 3

Discuss how clinical effectiveness is assessed.

Answer 3

Approach: Multifaceted assessment.

• Mechanisms: Clinical audit, outcome measurement, quality improvement, service evaluation, benchmarking.
• Contribution: Offers a comprehensive real-world view of intervention effectiveness.
• Examples: Clinical audit ensures standards, outcome measurement quantifies impact, quality improvement refines practices, benchmarking enables industry comparisons.

Question 4

Discuss how cost effectiveness is assessed.

Answer 4

Analysis Method: Compute cost-effectiveness ratio.

• Formula: Net cost divided by changes in health outcomes.
• Examples: Cost per case prevented, cost per death averted.
  (Note: Negative net costs indicate cost savings.)
• Significance: Provides nuanced understanding of economic implications for informed healthcare resource allocation decisions.

Question 5

Emphasize the importance of maintaining a robust knowledge base for future success

Answer 5

• Crucial Foundation: A robust knowledge base serves as the foundational pillar for success in any field.
• Continuous Evolution: Given the dynamic nature of disciplines like pharmacoeconomics, maintaining knowledge is crucial for staying abreast of evolving concepts, methodologies, and best practices.
• Informed decision making
• professional growth
• competitive edge
• enhanced problem solving
• contribution to innovation

Question 6

Explain the role of pharmacoeconomics in drug regulation.

Answer 6

Plays an integral role in internal decision-making. Its early integration enhances R&D resource efficiency, laying a solid foundation for effective communication of product value to external decision-makers

Question 7

Core issues related to the integration of pharmacoeconomic considerations in regulatory decisions

Answer 7

• Balancing Efficacy and Cost
• Methodological standardisation
• Data quality analysis
• patient access and affordability
• uncertencies in economic models
• Societal Impact and Budget Constraints
• Communication Challenges
• post market surveillance

Question 8

Impact of Pharmacoeconomics on Drug Approval Processes

Answer 8

Decision-Making Influence:
Resource Optimization:
Regulatory Submissions:
Payer Acceptance and Reimbursement:
Market Access and Commercial Success:
Health Technology Assessments (HTAs):
Economic Value Proposition:
Post-Approval Commitments:
Patient Access and Affordability:
Competitive Landscape:
Global Regulatory Expectations:
Long-Term Value Assessment: