title: Assessing the value for money of pharmaceuticals in New Zealand--PHARMAC's approach to cost-utility analysis.
abstract: Cost-utility analysis (CUA) is a form of economic analysis that has been used by PHARMAC for nearly 20 years. It is also used by many health funding and assessment agencies internationally. So what is CUA and why is it so important? This article describes the process involved in undertaking CUA, including critical appraisal of clinical evidence; transforming the evidence to estimate quality-adjusted life years (QALYs); estimating costs; and how this information is combined to obtain an output that can be used to inform decision-making. The article also describes how PHARMAC uses CUA to prioritise pharmaceuticals for funding in New Zealand.
authors.affiliation: PHARMAC, PO Box 10-254, Wellington, New Zealand. rachel.grocott@pharmac.govt.nz.
authors.forename: Rachel
authors.initials: R
authors.lastname: Grocott
authors.forename: Scott
authors.initials: S
authors.lastname: Metcalfe
authors.forename: Paul
authors.initials: P
authors.lastname: Alexander
authors.forename: Rachel
authors.initials: R
authors.lastname: Werner
mesh_terms: D003362:Cost-Benefit Analysis; D017048:Health Care Costs; D006801:Humans; D009520:New Zealand; D004364:Pharmaceutical Preparations / Q000191:economics*
chemical_list: D004364:Pharmaceutical Preparations