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Pharmacoeconomics

Pharmacoeconomics is a field of study that simultaneously considers the clinical consequences and costs attributed to the use of pharmaceutical products and services. Today's healthcare professionals encounter challenges determining optimal clinical and humanistic outcomes that minimize economic impacts on both individuals and society. By using pharmacoeconomic principles, analytical methods, and data, decision makers, including healthcare providers, payers, policy makers, and patients, can make informed medical decisions regarding optimal pharmaceutical care as well as allocations of scarce medical and financial resources.

History

Pharmacoeconomics consists of two root words: pharmaco and economic. The word pharmaco comes from the Greek word pharmakon, which means poisons or drugs. The word economic comes from two Greek words: (1) oikos, meaning the household or family estates, and (2) nomos, meaning rules, natural laws, ...

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