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Cost-benefit and cost-effectiveness: methodologies for evaluating innovative pharmaceutical services.

W F McGhan, C R Rowland, J L Bootman

    American Journal of Hospital Pharmacy
    |February 1, 1978
    PubMed
    Summary

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    Evaluating innovative pharmaceutical services requires cost-benefit analysis. Further research is needed to maximize the societal benefit-to-cost ratio for these essential healthcare programs.

    Area of Science:

    • Health Economics
    • Pharmaceutical Services Evaluation
    • Pharmacoeconomics

    Background:

    • Innovative pharmaceutical services offer potential benefits but require rigorous evaluation.
    • Cost-benefit and cost-effectiveness analyses are crucial tools for assessing healthcare interventions.
    • Existing literature provides a foundation for evaluating pharmaceutical service value.

    Purpose of the Study:

    • To review cost-benefit and cost-effectiveness analysis techniques applicable to innovative pharmaceutical services.
    • To present a framework for conducting cost-benefit studies in pharmacy.
    • To appraise existing pharmacy studies utilizing these economic evaluation methods.

    Main Methods:

    • Review of cost-benefit and cost-effectiveness analysis methodologies.
    Keywords:
    AmericasCost Benefit AnalysisDeveloped CountriesDistributional ActivitiesEvaluationEvaluation MethodologyEvaluation ResearchLiterature ReviewNonclinical DistributionNorth AmericaNorthern AmericaOrganization And AdministrationPharmacy DistributionProgram ActivitiesProgramsQuantitative EvaluationUnited States

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  • Identification and discussion of process and outcome measures.
  • Presentation of suggested steps for conducting cost-benefit analyses.
  • Appraisal of sample pharmacy studies.
  • Main Results:

    • Several innovative pharmaceutical services, including ambulatory patient consultation, unit dose drug distribution, and drug therapy monitoring, were discussed.
    • Potential measures for both costs and benefits were identified, with literature references provided.
    • Encouraging reports on the cost-benefit of pharmaceutical services exist, but comprehensive data is limited.

    Conclusions:

    • Cost-benefit and cost-effectiveness analyses are valuable for evaluating pharmaceutical services.
    • Further evaluative research is essential to optimize the benefit-to-cost ratio of pharmaceutical services for society.
    • Developing programs that maximize the benefit-to-cost ratio requires continued investigation and robust data collection.