Pharmacoeconomics

Pharmacoeconomics

Topic Summary

The course is designed for students who wish to learn the basic concepts of health economics, learning basic terms of health economics and understand key principles. Topics cover the economic mechanisms of health care markets as market failures, and government intervention. The course covers the key components of health care financing, and some methods of how to contain health care expenditure. Alongside the major definitions in health technology assessment, students should have an overview about different types of economic evaluation, budget impact analysis and their uses. Moreover, students should get familiar with different methods of pricing among which value-based pricing.


learning Objective

Upon completing each module attendees should learn the concepts of:

Health care market, government intervention

  • concept of free markets
  • conditions of perfect competition
  • why health care is a special commodity
  • why health care markets are special
  • source of health care market failures
  • nature of government intervention
  • reasons of government failure

Financing health care & Health care expenditures and cost containment

  • Key stakeholders of health care financing in system with universal health coverage: consumers, health care providers and third-party payers
  • Key components of health care financing: fund raising and resource allocation
  • The international diversity in health care spending: poor countries can afford to pay less on health care
  • Why health care spending grows faster than the economy
  • How to control demand side and supply side factors of health care expenditure

Health technology assessment

  • Evolution of health economics in policy making
  • Major definitions in Health Economics
  • HTA
    • What is Health Technology Assessment (HTA)
    • Components of HTA
    • Role in policy decision
    • HTA system process
    • Implementation

Economic evaluation: cost-effectiveness and budget impact analysis

  • Understand why we need full economic evaluation.
  • Explain the differences between various tools of economic evaluations.
  • Understand the concept of Quality Adjusted Life Years (QALYs)
  • Compare interventions using Incremental Cost Effectiveness Ratio ICER
  • Comprehend the role of threshold in decision making
  • Have an overview about Budget Impact Analysis (BIA)
    • Definition
    • Methodology

Pharmaceutical pricing policy

  • Typology of pharmaceutical pricing
  • How to determine the pharmacy markup?
  • How to determine fair ex-factory price of medicines?
  • Applicability of cost-based pricing or profit control of pharmaceutical manufacturers
  • Applicability of Internal price referencing
  • Components of value-based pricing
  • External reference pricing and its implications

Topic Modules

Content

Health Care market , Government intervension

Markets in Healthcare

Financing health care & Health care expenditures and cost containment

DEVELOPING A NATIONAL HEALTH FINANCING STRATEGY:A REFERENCE GUIDE

Health technology assessment

Key principles for the improved conduct of health technology assessments for resource allocation decisions

Economic evaluation: cost-effectiveness and budget impact analysis

Does NICE have a cost effectiveness threshold and what other factors influences its decisions

Pharmaceutical pricing policy

Principles of pharmacoeconomics and their impact on strategic imperatives of pharmaceutical research and development bph_550 1367..1373

Topic Instructors

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