title: Pharmacoeconomics.
abstract: Pharmacoeconomics focuses on the costs and benefits of drug therapy and pharmacoeconomic evaluations provide a basis for resource allocation and utilization. It is increasingly becoming important for health policy decision-making. A pharmacoeconomic evaluation may be conducted as an economic assessment incorporated into clinical trials. Such trials should compare the new drug/procedure with an older drug or existing intervention. Four techniques are used for economic evaluation, namely, cost-minimization analysis, cost-effectiveness analysis, cost-utility analysis and cost-benefit analysis. The choice of the evaluation method depends on the nature of outcomes and the context in which the choices need to be made. Pharmacoeconomics is a young science that will improve with application. Its need is undeniable, especially in developing countries.
authors.affiliation: Department of Pharmacology, Lady Hardinge Medical College and Associated Hospitals, Shaheed Bhagat Singh Marg, New Delhi, India.
authors.forename: Jaya
authors.initials: J
authors.lastname: Ahuja
authors.forename: Madhur
authors.initials: M
authors.lastname: Gupta
authors.forename: Ajay Kumar
authors.initials: AK
authors.lastname: Gupta
authors.forename: Kamlesh
authors.initials: K
authors.lastname: Kohli
mesh_terms: D002986:Clinical Trials as Topic / Q000191:economics; D003362:Cost-Benefit Analysis / Q000379:methods; D003657:Decision Making; D016527:Drug Costs; D017850:Economics, Pharmaceutical; D006291:Health Policy / Q000191:economics; D006302:Health Services Research; D006801:Humans; D040841:Resource Allocation