Author:
Mahendrakar Apoorva,Ajja Hrithik,Sinwal Aashutosh,. Ishu,. Nisha,Jain Priyanshi
Abstract
Pharmacoeconomics is the study of the cost- effectiveness and accessibility of pharmaceutical treatments from the perspective of both individuals and the healthcare system as a whole. This field can help policymakers and healthcare providers make more informed decisions about patient care. The field of health economics saw its inaugural publication in 1973, while the idea of cost-benefit and cost-effectiveness analysis was originally put forth by University of Minnesota researchers McGhan, Rowland, and Bootman in 1978. In pharmacoeconomics, four main categories exist cost- utility analysis, cost-minimization analysis, cost-benefit analysis, and cost-effectiveness analysis. Pharmacoeconomics was originally an applied discipline. Because of their relative youth, health economics, and pharmacoeconomics are still in the process of refining and evaluating their methods. Health economics has a lot of issues that make it hard to use in real life. The field of pharmacoeconomics offers valuable insights that healthcare practitioners can use in their practice. Drug policy and clinical decision-making are both aided by pharmacoeconomics.
Publisher
International Journal of Innovative Science and Research Technology
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