Pharmacoeconomics in oncology
Rebecca B Arbuckle1, Andrea T Adamus, Krista M King
1Department of Pharmacoeconomics, Division of Pharmacy, Box 706, The University of Texas M. D. Anderson Cancer Center, 1515 Holcombe Blvd., Houston, TX 77030, USA. barbuckle@mdanderson.org
Expert Review of Pharmacoeconomics & Outcomes Research
|October 8, 2009
Summary
Rising oncology drug costs necessitate pharmacoeconomics, which analyzes clinical, economic, and humanistic outcomes. This approach helps maximize healthcare value and is increasingly adopted in the USA for drug policy decisions.
Area of Science:
- Health Economics
- Oncology
- Pharmacoeconomics
Background:
- US healthcare costs, particularly for oncology drug treatments, are rising rapidly.
- An aging population will further expand the oncology patient population, compounding costs.
- Pharmacoeconomics offers a framework to assess value in healthcare spending.
Purpose of the Study:
- To highlight the growing importance of pharmacoeconomics in managing rising oncology treatment costs.
- To discuss the evolution of pharmacoeconomics research to meet patient and decision-maker needs.
- To examine the adoption of pharmacoeconomic principles in healthcare policy.
Main Methods:
- Review of the principles of pharmacoeconomics.
- Analysis of the relationship between clinical, economic, and humanistic outcomes.
- Examination of international trends in pharmacoeconomic guideline adoption.
Main Results:
- Pharmacoeconomics evaluates products and services to maximize value for money spent.
- International bodies in Europe, Canada, and Australia have integrated pharmacoeconomic tools.
- The US Food and Drug Administration is considering requiring pharmacoeconomic studies.
Conclusions:
- Pharmacoeconomics is crucial for addressing escalating oncology drug costs.
- Policy-makers are expected to increasingly apply pharmacoeconomic findings to practice.
- The integration of pharmacoeconomics will optimize healthcare resource allocation in oncology.
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