Literature DB >> 24045316

Assessing the value for money of pharmaceuticals in New Zealand--PHARMAC's approach to cost-utility analysis.

Rachel Grocott1, Scott Metcalfe, Paul Alexander, Rachel Werner.   

Abstract

Cost-utility analysis (CUA) is a form of economic analysis that has been used by PHARMAC for nearly 20 years. It is also used by many health funding and assessment agencies internationally. So what is CUA and why is it so important? This article describes the process involved in undertaking CUA, including critical appraisal of clinical evidence; transforming the evidence to estimate quality-adjusted life years (QALYs); estimating costs; and how this information is combined to obtain an output that can be used to inform decision-making. The article also describes how PHARMAC uses CUA to prioritise pharmaceuticals for funding in New Zealand.

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Year:  2013        PMID: 24045316

Source DB:  PubMed          Journal:  N Z Med J        ISSN: 0028-8446


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