Use and misuse of pharmacoeconomic terms: a definitions primer

Given the current cost-conscious health care environment, pharmacists must now be able to assess the effects of an agent from safety, efficacy, and value considerations. This article describes the various methodologies that may be used in performing pharmacoeconomic analyses and highlights the use and misuse of pharmacoeconomic terminology. Case studies relating the use of these methods to the pharmacy practice setting are presented. The technical nuances of the various methods are explained to promote a better understanding of the appropriate use of these techniques and the terminology used to describe them.