Principles of Economics Crucial to Pharmacy Students' Understanding of the Prescription Drug Market

Rattinger, Gail B.; Jain, Rahul; Ju, Jing; Mullins, C. Daniel

doi:10.5688/aj720361

Cited by 7 publications

(2 citation statements)

References 9 publications

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“…Meanwhile, an introductory level of economics through coursework is required in most pharmacy schools before or during the didactic education of professional curricula. 28 Economics is crucial to understand the financing of national health, which in turn helps to improve the health care system. Efficient health financing enhances the effectiveness and potency of health care spending and investment.…”

Section: Discussionmentioning

confidence: 99%

Key Elements of Pharmacoinformatics for the Degrees of Bachelor and Master of Pharmacy

Zainal

Karim

Soh

et al. 2017

Ther Innov Regul Sci

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The Internet and rapid development of technology has led to the application of pharmacoinformatic technologies in improving the efficiency of the medication use process. By integrating pharmacoinformatics in pharmacy education, a qualified workforce of pharmacists well trained in the perspective of both pharmacy practice and informatics for safe and positive health-related outcomes can be produced. This survey assessed the level of importance of the suggested topics for pharmacoinformatics courses for pharmacy bachelor's and master's degrees by giving a questionnaire to pharmacy lecturers in both public and private universities, and to pharmacists registered with the Ministry of Health, Malaysia. Briefly the study of pharmacoinformatics was classified into 5 major areas: Drug Information Services, Information Technology & Internet, Drug Formulary Management, Supply Chain Management, and Health Policy. The relative importance of all relevant topics were evaluated and reported. It was found that compared with the undergraduate level, master's degree had higher expectations, and thus a more in-depth pharmacoinformatics curriculum content. In addition, the experiential method of learning instead of formal lectures alone was used on pharmacy master's courses. The findings from this survey could serve as a guide to improve pharmacoinformatics curricula in order to produce pharmacists who can safely and effectively utilize pharmacy informatics to disseminate information in drug use.

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Section: Discussionmentioning

confidence: 99%

Key Elements of Pharmacoinformatics for the Degrees of Bachelor and Master of Pharmacy

Zainal

Karim

Soh

et al. 2017

Ther Innov Regul Sci

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“…The other equations of Approach 3, as well as Approaches 7 and 8, take merely the expenditure or payment, which makes the strong assumption of prices being at the equilibrium point of the perfectly competitive market model, requiring fulfilment of all conditions characterising such markets (Folland et al, 2010;Henry & Searles, 2012). This is unlikely given market imperfections in healthcare of, for example, quasi-monopolies and price controls, information asymmetries, patents and licencing requirements, and non-identical products (Arrow, 1963;Henry & Searles, 2012;Lave et al, 1994;Rattinger, Jain, Ju, & Mullins, 2008). Hence, spending £1 is unlikely to generate a benefit (revenue) equivalent to £1.…”

Section: Appraisal Of Existing Approachesmentioning

confidence: 99%

Estimating the opportunity costs of bed‐days

et al. 2017

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Opportunity costs of bed‐days are fundamental to understanding the value of healthcare systems. They greatly influence burden of disease estimations and economic evaluations involving stays in healthcare facilities. However, different estimation techniques employ assumptions that differ crucially in whether to consider the value of the second‐best alternative use forgone, of any available alternative use, or the value of the actually chosen alternative. Informed by economic theory, this paper provides a taxonomic framework of methodologies for estimating the opportunity costs of resources. This taxonomy is then applied to bed‐days by classifying existing approaches accordingly. We highlight differences in valuation between approaches and the perspective adopted, and we use our framework to appraise the assumptions and biases underlying the standard approaches that have been widely adopted mostly unquestioned in the past, such as the conventional use of reference costs and administrative accounting data. Drawing on these findings, we present a novel approach for estimating the opportunity costs of bed‐days in terms of health forgone for the second‐best patient, but expressed monetarily. This alternative approach effectively re‐connects to the concept of choice and explicitly considers net benefits. It is broadly applicable across settings and for other resources besides bed‐days.

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