Pharmacoecononomics Flashcards
Pharmacoeconomics
Provides a framework for evaluating drug treatments in terms of comparing one treatment with another
Pharmacoeconomic Studies
Designed to only look at economic impact of therapy
-Need to think of clinical impact
Components of well-designed studies
- Point of view
- Types of costs
- Direct
- Indirect
- Intangible
Cost of Illness Analysis
The costs of a specific disease in a given population
Costs of resources needed to treat illness
Costs of nonmedical resources
Loss of productivity
Cost-Minimization Analysis
Compares the costs of two or more treatment alternatives that are considered equal in efficacy
Compares cost of drugs within a class
- Cost of drug
- Total cost, including monitoring and administration
Cost-Effectiveness Analysis
Two or more treatments/programs that are not necessarily therapeutically equivalent
Measures effectiveness in therapeutic outcomes vs dollars saved
The costs of a specific treatment or intervention are calculated and then compared with the dollar value of the benefit received
Compares and determines the greatest benefit for the dollar spent
- Cost-benefit ration
- Differences in two therapies
Cost Utility Analysis
Costs of the treatment choice are in dollars and the outcomes are expressed in terms of patient preference of quality-adjusted life years
Used when quality of life is a factor
Generic Drugs
Generic drugs may or may not be less expensive
Pharmacy coverage may deteremine whether a generic drug is used
-Tiered benefit
-Lower co-pay for generic drugs
Retail prescription drug programs
Generic Substitution
69% of prescriptions filled with generic drugs
Prescriber influenced by
-Innovator company
-Payer
-Patient
Innovator companies support for health care
Bioequivalence
The U.S. FDA regulates and sets standards for bioequivalence
FDA Orange Book: Approved drug products with therapeutic equivalence evaluations is:
- Available online
- Searched by active ingredient
- Searched by proprietary name
- Updated daily
Pharmacoeconomics in Practice
Prescribing generic vs brand name drugs
Pharmacists may substitute a less expensive drug that is therapeutic equivalent
-“dispense as written”
-Patients may switch due to costs and prescription benefit
Retail drug programs
-Walmart, Target, Kroger, Sam’s Club
-$4 for a 30 day supply of common generic drugs
Medicare Part D
Covers 75% of drug costs once the patient pays a deductable of $250/year
In 2018, the gap is $3750 tp $5000 and medicare enrollees get a 65% discount on costs of brand-name drugs and 56% on generic drugs
Prescriptions covered 95% after $5000/year
