Journal of Research in Pharmacy Practice

REVIEW ARTICLE
Year
: 2013  |  Volume : 2  |  Issue : 1  |  Page : 3--9

The role of pharmacoeconomics in current Indian healthcare system


Akram Ahmad1, Isha Patel2, Sundararajan Parimilakrishnan1, Guru Prasad Mohanta1, HaeChung Chung3, Jongwha Chang3 
1 Department of Pharmacy Practice, Annamalai University, Annamalai Nagar, Tamil Nadu, India
2 Department of Clinical, Social and Administrative Sciences, University of Michigan, Ann Arbor, MI, USA
3 Department of Public Health Sciences, The Pennsylvania State University, Pennsylvania, USA

Correspondence Address:
Akram Ahmad
Department of Pharmacy Practice, Annamalai University, Annamalai Nagar, Tamil Nadu
India

Phamacoeconomics can aid the policy makers and the healthcare providers in decision making in evaluating the affordability of and access to rational drug use. Efficiency is a key concept of pharmacoeconomics, and various strategies are suggested for buying the greatest amount of benefits for a given resource use. Phamacoeconomic evaluation techniques such as cost minimization analysis, cost effectiveness analysis, cost benefit analysis, and cost utilization analysis, which support identification and quantification of cost of drugs, are conducted in a similar way, but vary in measurement of value of health benefits and outcomes. This article provides a brief overview about pharmacoeconomics, its utility with respect to the Indian pharmaceutical industry, and the expanding insurance system in India. Pharmacoeconomic evidences can be utilized to support decisions on licensing, pricing, reimbursement, and maintenance of formulary procedure of pharmaceuticals. For the insurance companies to give better facility at minimum cost, India must develop the platform for pharmacoeconomics with a validating methodology and appropriate training. The role of clinical pharmacists including PharmD graduates are expected to be more beneficial than the conventional pharmacists, as they will be able to apply the principles of economics in daily basis practice in community and hospital pharmacy.


How to cite this article:
Ahmad A, Patel I, Parimilakrishnan S, Mohanta GP, Chung H, Chang J. The role of pharmacoeconomics in current Indian healthcare system.J Res Pharm Pract 2013;2:3-9


How to cite this URL:
Ahmad A, Patel I, Parimilakrishnan S, Mohanta GP, Chung H, Chang J. The role of pharmacoeconomics in current Indian healthcare system. J Res Pharm Pract [serial online] 2013 [cited 2019 Sep 19 ];2:3-9
Available from: http://www.jrpp.net/article.asp?issn=2319-9644;year=2013;volume=2;issue=1;spage=3;epage=9;aulast=Ahmad;type=0