Article

Measuring Value: Pharmacoeconomics Theory and Practice

Adrian Towse, Michael Drummond and Corinna Sorenson

in The Oxford Handbook of the Economics of the Biopharmaceutical Industry

Published in print April 2012 | ISBN: 9780199742998
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199742998.013.0013

Series: Oxford Handbooks

 Measuring Value: Pharmacoeconomics Theory and Practice

More Like This

Show all results sharing these subjects:

  • Economics
  • Health, Education, and Welfare
  • Econometric and Statistical Methods and Methodology: General

GO

Show Summary Details

Preview

Government-run or -regulated health care systems have adopted complex systems of economic regulation to control pharmaceutical expenditures, which are generally an ad hoc mix of historical policies. There has, however, been a substantial increase in the number of third-party payers using formal cost-effectiveness analysis (CEA) or pharmacoeconomic approaches for assessing the value of drugs, vaccines, and other health technologies to inform decisions about pricing, reimbursement, and use within their health care systems. This article explores the theoretical and practical issues that have arisen in the application of CEA for drugs to resource allocation decisions in health care and in the regulation of pharmaceutical prices and use. It begins by outlining the evolution of CEA from the practice of health technology assessment.

Keywords: economic regulation; drug costs; cost-effectiveness analysis; resource allocation; regulation; drug prices; health technology assessment

Article.  19749 words. 

Subjects: Economics ; Health, Education, and Welfare ; Econometric and Statistical Methods and Methodology: General

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.