Modelling in economic evaluations of medicines

Economic evaluation in health (also known as pharmacoeconomic in case of medicines) identifies, measures, and values costs and outcomes of alternative healthcare technologies, and can be performed alongside controlled clinical trials, but analytical modelling is usually used. Decision trees and Mark...

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Autores principales:	Lakić Dragana, Stević Ivana, Odalović Marina, Tadić Ivana
Formato:	article
Lenguaje:	SR
Publicado:	Pharmaceutical Association of Serbia, Belgrade, Serbia 2021
Materias:	economic evaluation modelling decision tree markov model Pharmacy and materia medica RS1-441
Acceso en línea:	https://doaj.org/article/27c69015195c481e8df0c640c68322a3
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spelling	oai:doaj.org-article:27c69015195c481e8df0c640c68322a32021-12-05T18:01:36ZModelling in economic evaluations of medicines0004-19632217-876710.5937/arhfarm71-32404https://doaj.org/article/27c69015195c481e8df0c640c68322a32021-01-01T00:00:00Zhttps://scindeks-clanci.ceon.rs/data/pdf/0004-1963/2021/0004-19632104354L.pdfhttps://doaj.org/toc/0004-1963https://doaj.org/toc/2217-8767Economic evaluation in health (also known as pharmacoeconomic in case of medicines) identifies, measures, and values costs and outcomes of alternative healthcare technologies, and can be performed alongside controlled clinical trials, but analytical modelling is usually used. Decision trees and Markov models are the two most common approaches used in economic evaluation. The biggest advantages of a decision tree are clarity, simplicity, and straightforwardness. On the other hand, the main advantage of the Markov model is its ability to incorporate complex events into the simulation, which is practically impossible to do with a decision tree. Reimbursement policy in Serbia mandatorily incorporates economic evaluations to promote availability and accessibility of the prescription medicines. To show current pharmacoeconomic value of a medicine, budget impact analysis and the cost-effectiveness analysis should be included. The latter should be conducted using appropriate modelling techniques. However, since no official methodological guidelines about the modelling and economic analysis exist, the submissions by marketing authorization holders vary greatly. The future of pharmacoeconomic modelling depends on the research area of interest, with new frameworks and approaches being developed.Lakić DraganaStević IvanaOdalović MarinaTadić IvanaPharmaceutical Association of Serbia, Belgrade, Serbiaarticleeconomic evaluationmodellingdecision treemarkov modelPharmacy and materia medicaRS1-441SRArhiv za farmaciju, Vol 71, Iss 4, Pp 354-364 (2021)
institution	DOAJ
collection	DOAJ
language	SR
topic	economic evaluation modelling decision tree markov model Pharmacy and materia medica RS1-441
spellingShingle	economic evaluation modelling decision tree markov model Pharmacy and materia medica RS1-441 Lakić Dragana Stević Ivana Odalović Marina Tadić Ivana Modelling in economic evaluations of medicines
description	Economic evaluation in health (also known as pharmacoeconomic in case of medicines) identifies, measures, and values costs and outcomes of alternative healthcare technologies, and can be performed alongside controlled clinical trials, but analytical modelling is usually used. Decision trees and Markov models are the two most common approaches used in economic evaluation. The biggest advantages of a decision tree are clarity, simplicity, and straightforwardness. On the other hand, the main advantage of the Markov model is its ability to incorporate complex events into the simulation, which is practically impossible to do with a decision tree. Reimbursement policy in Serbia mandatorily incorporates economic evaluations to promote availability and accessibility of the prescription medicines. To show current pharmacoeconomic value of a medicine, budget impact analysis and the cost-effectiveness analysis should be included. The latter should be conducted using appropriate modelling techniques. However, since no official methodological guidelines about the modelling and economic analysis exist, the submissions by marketing authorization holders vary greatly. The future of pharmacoeconomic modelling depends on the research area of interest, with new frameworks and approaches being developed.
format	article
author	Lakić Dragana Stević Ivana Odalović Marina Tadić Ivana
author_facet	Lakić Dragana Stević Ivana Odalović Marina Tadić Ivana
author_sort	Lakić Dragana
title	Modelling in economic evaluations of medicines
title_short	Modelling in economic evaluations of medicines
title_full	Modelling in economic evaluations of medicines
title_fullStr	Modelling in economic evaluations of medicines
title_full_unstemmed	Modelling in economic evaluations of medicines
title_sort	modelling in economic evaluations of medicines
publisher	Pharmaceutical Association of Serbia, Belgrade, Serbia
publishDate	2021
url	https://doaj.org/article/27c69015195c481e8df0c640c68322a3
work_keys_str_mv	AT lakicdragana modellingineconomicevaluationsofmedicines AT stevicivana modellingineconomicevaluationsofmedicines AT odalovicmarina modellingineconomicevaluationsofmedicines AT tadicivana modellingineconomicevaluationsofmedicines
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Modelling in economic evaluations of medicines

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