Publication

Abstract : pSteady increase in the number of diseases and the number of treatments has increased patient sensitivity towards cost. This has necessitated a method that can effectively compare the cost and the consequence of a treatment method, has led to the introduction of Pharmacoeconomics. Pharmacoeconomics is a description and analysis, of the costs and consequences of pharmaceuticals and pharmaceutical services and their impact on individuals, healthcare systems and society. This should ideally form the basis of the Hospital formulary system, and is often used as a tool by insurance agencies to decide on what to fund and what not to. Globally, Pharmacoeconomics has been making strong inroads in many countries, where healthcare spending is governed by economic considerations. International Society for Pharmacoeconomics and Outcomes Research exists to spread the word and to encourage more countries to embrace the analytical technique, which would reduce their spending on healthcare. Pharmacoeconomics is yet to make an appearance in India where majority of healthcare spending is done by patients out of their own pockets, unlike medical insurance policies in most developed countries. It is important that Pharmacoeconomic researches should be introduced strongly in the India and should be performed from the clinical trial onwards so that the government can ensure that money spends in the right direction and also reduce the financial burden on patients./p