Week 9 Pharmaceutical Calculations - Health Economics PDF

WEEK 9 Pharmaceutical Calculations Health Economics ‐ Micro Lecture Susan Gault Dale 121 Susan.gault‐[email protected] Slide 1 of 21 PHA113 MPharm WEEK 9 Learning Outcomes • Understand what is meant by health economics • Be able to perform health economics calculations 2 PHA113 MPharm...

WEEK 9 Pharmaceutical Calculations Health Economics ‐ Micro Lecture Susan Gault Dale 121 Susan.gault‐[email protected] Slide 1 of 21 PHA113 MPharm WEEK 9 Learning Outcomes • Understand what is meant by health economics • Be able to perform health economics calculations 2 PHA113 MPharm WEEK 9 What is health economics? • Medicines need to be cost‐effective • The NHS and patients need to get value for money 3 PHA113 MPharm WEEK 9 Cost Minimisation Example You are a pharmacist working within a GP surgery. You are undertaking a project to switch all suitable patients from paracetamol 500mg soluble tablets to paracetamol 500mg caplets. The monthly cost difference between these two products is £4.80. If you switch 72 patients from soluble tablets to caplets, what would the annual cost saving be? £4.80 x 72 = £345.60 (monthly saving) £345.60 x 12 = £4147.20 (annual saving) Ans: £4147.20 4 PHA113 MPharm WEEK 9 Cost Minimisation Example 2 You are a community pharmacist and have been approached by a new pharmaceutical supplier. They want you to buy your ramipril 2.5mg capsules from them instead of your current supplier. Your current supplier charges you £5.78 for a box of 28, your new supplier will charge you £5.12 for a box of 28. You always order 125 boxes per month. How much will you save over the next 4 months by switching to the new supplier? 5 PHA113 MPharm