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Pharmacoeconomics PowerPoint Presentation

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Description : Check out this medical PowerPoint presentation titled "Pharmacoeconomics".

This medical PowerPoint presentation is about pharmacoeconomics, the study of the economic evaluation of pharmaceuticals and their impact on healthcare systems. It involves the analysis of the costs and consequences of using pharmaceuticals in the treatment and prevention of diseases, and the optimization of drug therapy to achieve the best possible health outcomes for patients within the available resources.

Pharmacoeconomics encompasses various types of analyses, including cost-effectiveness analysis, cost-benefit analysis, and cost-utility analysis. These analyses assess the value of drugs based on their efficacy, safety, and economic impact.

The goal of pharmacoeconomics is to help healthcare providers, payers, and policymakers make informed decisions about the allocation of resources in the healthcare system. It aims to ensure that patients receive the best possible care while minimizing costs and maximizing the use of available resources.

Tags : Pharmacoeconomics, economic evaluation of pharmaceuticals, pharmaceuticals, pharmaceuticals PowerPoint presentations

Published on : Jun 23, 2023 | Views : 2370 | Downloads : 1

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Slide 1-

Pharmacoeconomics Created by the School of Pharmacy Relations Committee for AMCP Updated: January 2020
Slide 2-

Objectives Define pharmacoeconomics Differentiate various pharmacoeconomic evaluation methods Discuss various considerations essential to evaluating a pharmacoeconomic analysis Provide examples of how pharmacoeconomics is applied in practice and various roles for the pharmacist
Slide 3-

Background - Pharmacoeconomics Process of identifying, measuring, and comparing costs and consequences of therapies and determining which alternative produces best outcomes for resources invested
Slide 4-

True or False The goal of pharmacoeconomics is to find the cheapest alternative
Slide 5-

Types of Economic Evaluation
Slide 6-

Cost of Illness Evaluation Aims to identify and measure total costs attributable to a particular disease Can demonstrate economic burden of disease Units of Measurement Cost – Monetary ($) Consequence – Not measured
Slide 7-

Cost Minimization Analysis Compares costs for therapeutically equivalent drugs to identify the least costly alternative Units of measurement Cost – Monetary ($) Consequences – assumed equivalent
Slide 8-

Cost Benefit Analysis Primarily used to determine allocative efficiency Units of Measurement Cost – Monetary ($) Consequences – Monetary ($)
Slide 9-

Cost Effectiveness Analysis Compares costs of two or more alternatives versus outcomes measured in natural units (eg: BP, HbA1c) Units of measurement Cost – Monetary ($) Consequence – health outcome (eg: BP, HbA1c) ICER – Incremental Cost Effectiveness Ratio ICER = ∆Cost/∆Effect = (CTx1 – CTx2)/(ETx1 – ETx2)
Slide 10-

Cost Utility Analysis Analysis that account for both quality and quantity of life which are expressed as “utilities” Utilities represent patient preferences and quality of life associated with disease and/or treatment Units of Measurement Cost – Monetary ($) Consequence – Quality adjusted life year (QALY) Quality adjusted life year – factor of life expectancy and utility ICER = ∆Cost/∆Effect = (CTx1 – CTx2)/(QALYTx1 – QALYTx2)
Slide 11-

Cost Effectiveness Plane 11
Slide 12-

Cost Effectiveness Plane 12 Reject Accept
Slide 13-

Recap of Pharmacoeconomic Analyses
Slide 14-

Considerations for Designing or Evaluating Pharmacoeconomic Studies Costs Direct medical – e.g., medication and administration Direct non-medical – e.g., transportation for treatment Indirect – e.g., lost wages due to illness Intangible – e.g., pain, suffering Perspective Patient, Provider, Payer, Society Perspective dictates what costs are considered
Slide 15-

Considerations for Designing or Evaluating Pharmacoeconomic Studies Discounting - value of money changes over time A dollar is worth more today than in the future Sensitivity Analysis Challenges results and tests assumptions by altering variables Accuracy and transparency Clearly documented study design, assumptions, inputs Face Validity Do the assumptions/input and alternatives reflect reality
Slide 16-

Economic Modeling Analytic models used to predict economic consequences of coverage, treatment, and access decisions Constructed by health plans, pharmaceutical manufacturers, academic groups, and consultants These models are associated with uncertainty
Slide 17-

One-Way Sensitivity Analysis Change one parameter at a time while keeping all others constant
Slide 18-

Probabilistic Sensitivity Analysis Instead of changing one or more variables at a time, all variables are simultaneously changed using a simulation
Slide 19-

Applications in Practice & Roles of the Pharmacist Assist in the design and implementation of research studies Evaluate pharmacoeconomic literature Apply results to clinical decision making Individual patient care Formulary/utilization management Disease management Resource allocation
Slide 20-

Helpful Resources Navarro RP, ed. Managed Care Pharmacy Practice. 2nd edition. Jones and Bartlett Publishers: Sudbury, MA; 2009. www.ispor.org https://icer-review.org/ https://www.equator-network.org/wp-content/uploads/2013/04/Revised-CHEERS-Checklist-Oct13.pdf Husereau D, Drummond M, Petrou S, et al. Consolidated Health Economic Evaluation Reporting Standards (CHEERS)—Explanation and Elaboration: A Report of the ISPOR Health Economic Evaluation Publication Guidelines Good Reporting Practices Task Force. Value in Health. 2013; 16:231-250.
Slide 21-

Conclusion Pharmacoeconomic evaluations consider cost compared to consequences of treatment alternatives Results are used to support population-level decisions regarding medication coverage and use Best-Practice principles should be used in designing pharmacoeconomic studies to optimize transparency and reduce bias
Slide 22-

Purpose of Quality Measures Quality measures are a mechanism to help quantify the quality of care provided Quality measures address aspects of care such as: Utilization of evidence-based medicine Efficiency and effectiveness Quality of Life Patient Satisfaction Useful in pay-for-performance and value-based purchasing reimbursement programs
Slide 23-

Thank you to AMCP member Pranav Patel and Michael Pazirandeh for updating this presentation for 2020.
Slide 24-

To improve patient health by ensuring access to high-quality, cost-effective medications and other therapies. Mission & Vision