Abstract

SENSITIZATION OF MEDICAL STUDENTS TO PHARMACOECONOMIC IMPORTANCE IN A RURAL HOSPITAL.

*Dr. Deepanjali Lomte

ABSTRACT

„Pharmacoeconomics‟ is a new word; but economic interest in drug and other treatments of health problems is much older. Decisions about what treatments should be available within a health-care system have always been influenced by the resources available to pay for them. Pharmacoeconomics can be defined as the branch of economics that uses cost-benefit, cost-effectiveness, cost-minimization, cost-of-illness and cost-utility analysis to compare pharmaceutical products and treatment strategies. Pharmacoeconomic analysis will help in decision making process and should be carried out by doctors in day to day practice. The current study aimed to provide some knowledge to medical students about pricing of drugs in their early medical career. Data was collected from various pharmacy stores. Huge difference was found in prices of generic and branded medicines. Physicians should take into consideration patient‟s socioeconomic status including drug safety, effectiveness and compliance.

Keywords: Pharmacoeconomics, generic, branded, cost, drug.