Application of Pharmacoeconomics for better informed decisions in Health Care System

Pharmacoeconomics (PE), a sub discipline of health economics, evaluates the behaviour of individuals, firms, and markets relevant to the use of pharmaceutical products, services, and programs, and with the focus on the costs (inputs) and consequences (outcomes) of that use. In other words it identifies, compare and measure the cost and value of one pharmaceutical drug or drug therapy to another. In broad term, it teaches the three basic outcomes i.e. clinical, economic, and humanistic to be considered in drug therapy.

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