METHODS OF PHARMACOECONOMIC EVALUATION OF NEW MEDICAL TREATMENTS IN PSYCHIATRY

There is concern in developed countries about the increasing cost of h ealth care, Developers of new psychopharmacologic agents are asked to demonstrate cost-effectiveness as well as safety and efficacy before w idespread use is encouraged. Pharmacoeconomic studies are designed to evaluate the health outcomes and cost-effectiveness of new medical tre atments relative to existing treatments. Retrospective and prospective research designs have been used in pharmacoeconomic studies. New appr oaches such as medical effectiveness studies and modeling studies base d on clinical decision analysis are increasingly used to evaluate cost -effectiveness. This article introduces important concepts of pharmaco economic evaluation and discusses the methods and their strengths and weaknesses. Safety and efficacy studies and pharmacoeconomic studies p rovide useful and complementary evidence on how a new treatment affect s clinical, health-related quality-of-life, and economic outcomes.