Pharmacoeconomics: Applications

Healthcare practitioners, regardless of practice setting, can benefit from applying the principles and methods of Pharmacoeconomics to their daily practice settings. Applied Pharmacoeconomics is defined as putting pharmacoeconomic principles, methods, and theories into practice to quantify the value of pharmacy products and pharmaceutical care services used in real-world environments. Today’s practitioners increasingly are required to justify the value of the products and services they provide. Applied Pharmacoeconomics can provide the means or tools for this valuation. One of the primary applications of Pharmacoeconomics in clinical practice today is to aid clinical and policy decision making. Through the appropriate application of Pharmacoeconomics, practitioners and administrators can make better, more informed decisions regarding the products and services they provide.