Pharmacoeconomics:The Missing Link in Health Care System

Pharmacoeconomics can be defined as the branch of economics that uses cost-benefit, cost-effectiveness, cost-minimization, cost-of-illness and cost-utility analyses to compare pharmaceutical products and treatment strategies. By understanding the principles, methods, and application of Pharmacoeconomics, health care practitioners including doctors, nurses and pharmacists will be prepared to make better, more-informed decisions regarding the use of pharmaceutical products and services, that is, decisions that ultimately represent the best interests of the patient, the health care system, and society.