Economic Evaluation of New Drugs

2018 ◽  
Author(s):  
Stuart O. Schweitzer ◽  
Z. John Lu
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Healthcare Services ◽  
The United States ◽  
Cost Utility ◽  
New Drugs ◽  
Utility Analysis ◽  
Public And Private ◽  
Current State ◽  
The Uk

As a result of new cost-containment incentives found in both public and private healthcare plans, providers and insurers are subjecting new healthcare services, and especially pharmaceuticals, to evaluations in which costs and benefits are explicitly compared. Collectively, this body of work is referred to as health technology assessment. This chapter discusses in detail the three methodologies most frequently utilized in HTA: cost-benefit analysis, cost-effectiveness analysis, and cost-utility analysis. The appropriate roles for each of these approaches and examples of their applications in several influential HTA organizations around the world are elaborated, including the National Institute for Health and Care Excellence in the UK, the Pharmaceutical Benefits Advisory Committee in Australia, and the Canadian Agency for Drugs and Technologies in Health. The history and current state of HTA in the United States is also examined in the chapter.

scholarly journals Economic Evaluations in the Canadian Mental Health System I: Theory behind Economic Evaluation*

1989 ◽  
Vol 34 (7) ◽  
pp. 633-636 ◽  
Author(s):  
Bruce J. Fried ◽  
Catherine Worthington ◽  
Raisa B. Deber
Keyword(s):  
Mental Health ◽  
Economic Evaluation ◽  
Health Program ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Utility ◽  
Economic Evaluations ◽  
Utility Analysis ◽  
Mental Health Programs

Economic evaluation is becoming an increasingly important part of the evaluation of health and mental health services. Current models for conducting economic evaluation, including cost-effectiveness analysis, cost-benefit analysis, and cost-utility analysis, have great potential for improving the quality of decision-making and for making mental health programs more effective and efficient. This paper presents the basic economic theory underlying the various forms of economic evaluation and provides general guidelines for developing and conducting an economic analysis of a health program.

scholarly journals The study of Pharmacoeconomics analysis on anti tuberculosis drugs Rifampicin & Ethambutol

2018 ◽  
Vol 1 (1) ◽  
pp. 31-40
Author(s):  
Arsalan Sarmad ◽  
B. Syed Salman ◽  
Syed Sharfuddin Ibrahim
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Minimization ◽  
Cost Benefit ◽  
Minimum Cost ◽  
Cost Utility ◽  
Cost Utility Analysis ◽  
Effective Therapy ◽  
Benefit Analysis ◽  
Utility Analysis

Cost-benefit analysis can be used to quantify the value of clinical pharmacy services. Providing Effective Therapy and Minimum cost, Quantify costs of care, Quantify outcomes, Assess whether and by how much average costs and outcomes differ among treatment groups, Compare magnitude of difference in costs and outcomes and evaluate “value for costs” by reporting a cost-effectiveness ratio, net monetary benefit, or probability that ratio is acceptable – Potential hypothesis: Cost per quality-adjusted life year saved significantly less than Rs.75,000, To Perform sensitivity analysis. For providing good effective therapy with less adverse drug reaction at affordable price, Cost-Identification, Cost-Effectiveness Analysis, Cost-Utility Analysis, Cost-Benefit Analysis, Clinical outcomes: Cure, comfort and survival, Humanistic outcomes: Physical, emotional, social function, role performance, Economic outcomes, Economic Evaluation, Cost of Illness Evaluation (COI), Cost Benefit Analysis (CBA), Cost Minimization Analysis, Cost Effective Analysis: Cost Utility Analysis.

scholarly journals Acquisition of a Dose Management System with Consideration of Medico-Legal and Economic Aspects

2021 ◽  
Author(s):  
Thuy Duong Do ◽  
Claudius Melzig ◽  
Hans-Ulrich Kauczor ◽  
Marc-André Weber ◽  
Mark Oliver Wielpütz
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Steering Committee ◽  
Cost Utility ◽  
Cost Utility Analysis ◽  
Current Status ◽  
Actual Condition ◽  
Utility Analysis ◽  
Advantages And Disadvantages ◽  
Dose Management

Background New radiation protection regulation encompassing additional obligations for monitoring, reporting and recording of radiation exposure, was enacted on December 31, 2018. As a consequence, dose management systems (DMS) are necessary to fulfill the requirements. The process of selection, acquisition and implementation of a suitable IT solution for this purpose is a challenge that all X-ray-applying facilities, including hospitals and private practices, are currently facing. Method A target/actual-analysis as well as a cost-utility analysis is presented for this specific case as a foundation for the acquisition decision-making process. Result An actual analysis is necessary in order to record the current status of dose documentation. An interdivisional approach is recommended to include all imaging modalities and devices. An interdisciplinary steering committee can be helpful in enabling consensus and rapid action. A target analysis includes additional criteria with respect to ease of operation, technical feasibility, process optimization and research opportunities to consider in addition to the statutory requirements. By means of a cost-benefit analysis, considerations between costs and the individually weighted advantages and disadvantages of eligible DMS result in a ranking of preference for the available solutions. Conclusion Requirements of a DMS can be summarized in a specification sheet. Deploying an actual condition analysis, target state analysis and cost-utility analysis can help to identify a suitable DMS to achieve rapid commissioning and highest possible user acceptance while optimizing costs at the same time. Key Points: Citation Format

Economic evaluation and priority setting: an overview

2017 ◽  
Author(s):  
Jan Abel Olsen
Keyword(s):  
Economic Evaluation ◽  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Utility ◽  
Economic Evaluations ◽  
Benefit Analysis ◽  
Utility Analysis ◽  
The Cost ◽  
Evaluation Techniques

This chapter provides an overview of the methodologies that come under the umbrella term of economic evaluation in healthcare. Economic evaluations seek to identify, measure, value, and compare alternative programmes. A taxonomy is developed to distinguish economic evaluation techniques depending on whether benefits have been measured in money terms or not, and whether benefits are based on preferences or not. When benefits are measured in money terms, it is referred to as a cost–benefit analysis (CBA). If benefits are measured in health terms, some sort of cost-effectiveness analysis (CEA) is being used. An important class of CEA is what has come to be labelled ‘cost-utility-analysis’ (CUA). The chapter explains the incremental cost-effectiveness ratio (ICER) and illustrates the cost-effectiveness plane. Finally, the idea of discounting health is discussed.

Evidence for population-level approaches to the prevention of NCDs

2017 ◽  
Author(s):  
Mike Rayner ◽  
Kremlin Wickramasinghe ◽  
Julianne Williams ◽  
Karen McColl ◽  
Shanthi Mendis
Keyword(s):  
Economic Evaluation ◽  
Health System ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Population Level ◽  
Cost Effective ◽  
Cost Utility ◽  
Utility Analysis ◽  
Prevention Interventions ◽  
Key Steps

This chapter describes health economics, which is an important component of effective health system management. The chapter provides a brief overview of the process of economic evaluation and how to assess the costs and consequences of alternative courses of actions. It goes on to discuss the various types of economic evaluation, including cost-effectiveness analysis, cost–utility analysis, and cost–benefit analysis, which may be used to assess health system performance and to prioritize the allocation of health-care resources. It provides practical examples of cost-effective analyses of prevention interventions from around the world. Finally, it outlines key steps in conducting an economic evaluation and provides tools to critically appraise an economic evaluation.

The Industrial Safety Professionals: A Comparative Analysis from World War I until the 1980S

1992 ◽  
Vol 22 (4) ◽  
pp. 705-727 ◽  
Author(s):  
Tom Dwyer
Keyword(s):  
World War I ◽  
Social Relations ◽  
New Technologies ◽  
Cost Benefit Analysis ◽  
Traditional Approach ◽  
Cost Benefit ◽  
The United States ◽  
Industrial Safety ◽  
Industrial Society ◽  
Industrial Medicine

The birth of industrial society produced demand for the services of professionals specialized in matters related to industrial safety. Three professions—safety engineering, industrial medicine, and ergonomics—are examined. These professions are observed to either submit to single sets of demands, to integrate contradictory demands, or to experience scission. Until the late 1960s their growth appears to have been relatively peaceful and uncontroversial. From this period onward, controversy breaks out over questions related to industrial safety, and professions and government administrations grow. Increasingly, the traditional approach of safety professionals is called into question, and they adopt new orientations. These changes are mapped through the examination of data drawn principally from the United States, France, Great Britain, and to a lesser extent Brazil. The traditional standards approach competes with cost-benefit analysis and with systemic safety for influence; in addition, an emergent approach that analyzes accident causes in terms of social relations of work is detected. From Bhopal to Chernobyl, new technologies subject civilian populations to risks of catastrophic accidents, and the action of safety professionals comes under the spotlight. The analysis constructed permits new understandings of the past and the future of these professions.

Inflation Inequality: Measurement, Causes, and Policy Implications

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Xavier Jaravel
Keyword(s):  
United States ◽  
Income Distribution ◽  
Interest Rates ◽  
Optimal Taxation ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
The United States ◽  
Policy Implications ◽  
Annual Review ◽  
Publication Date

Does inflation vary across the income distribution? This article reviews the growing literature on inflation inequality, describing recent advances and opportunities for further research in four areas. First, new price index theory facilitates the study of inflation inequality. Second, new data show that inflation rates decline with household income in the United States. Accurate measurement requires granular price and expenditure data because of aggregation bias. Third, new evidence quantifies the impacts of innovation and trade on inflation inequality. Contrary to common wisdom, empirical estimates show that the direction of innovation is a significant driver of inflation inequality in the United States, whereas trade has similar price effects across the income distribution. Fourth, inflation inequality and non-homotheticities have important policy implications. They transform cost-benefit analysis, optimal taxation, the effectiveness of stabilization policies, and our understanding of secular macroeconomic trends—including structural change, the decline in the labor share and interest rates, and labor market polarization. Expected final online publication date for the Annual Review of Economics, Volume 13 is August 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

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