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PHARMACOECONOMICS . Deepikakumri, A.C Rana, Komal, Sunil kumar , Madhu devi

PHARMACOECONOMICS.

Deepikakumri, A.C Rana, Komal, Sunil kumar , Madhu devi

International Journal of Natural Product Science 2012: Spl Issue 1:31.

Abstract (RBIP-31)

Economics is the social science that analyzes the production, distribution and consumption of good and services. Economics is the choices between wants, needs and the scarcity of resources to fulfill these wants. Economics is about tradeoff between goods, services and money. Pharmacoeconomics has been defined as “the description and the analysis of the cost of drug therapy to the society”. Pharmacoeconomics also refer to the scientific discipline that compares the one pharmaceutical drug to another pharmaceutical drug. Pharmacoeconomic research compares the cost and consequences of pharmaceutical products. There are several types of pharmacoeconomic evaluation including cost minimization analysis, cost effectiveness analysis, cost benefit analysis and cost utility analysis. Money and drug selection also play a very important role in pharmacoeconomics. Pharmacoeconomics has been increasingly used to enhance the population’s quality of life. One important consideration in pharmacoeconomic evaluation is to decide the perspective from which the analysis should be conducted. Pharmacoeconomics can provide an innovative way to marketed drug and penetrate barrier to access in both government funded and private pay health care system.

Keywords:-trade, cost, drug selection, production.
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