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Scott K Griggs

and Peter Hurd

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date: 30 July 2021

Although pharmacoeconomic justifications often examine dollars spent or lives saved, the implications for the health of communities are equally important. Given the significant and growing cost of health care and medications, decision-makers face the difficult dilemma of choosing how best to optimize resources efficiently and effectively (relating to outcomes in the real world). This chapter defines terms and categories commonly used in pharmacoeconomic evaluations and offers a comparative review of four commonly used methodologies. It also examines the steps involved in pharmacoeconomic evaluation, as well as how to critically evaluate published studies. This leads to a discussion on the use of decision analysis in pharmacoeconomic studies. The chapter argues that a background in pharmacoeconomics is essential for pharmacists as drug therapy becomes more complicated and their roles as members of interdisciplinary teams of health care providers expand.

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