Economics
Micro-costing model used to assess costs of pharmacy service
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Economic modelling has rarely been used to assess costs of pharmacy services
Economic methods are rarely used in pharmacy research so there is often a lack of evidence about the cost of a service or intervention that can influence funding decisions, according to research in the International Journal of Pharmacy Practice[1].
Researchers applied the economic model of micro-costing — the precise financial assessment of economic costs — to discover the cost of a medication review service in a care home given by a multidisciplinary team. It was the first time this kind of analysis had been tested on a pharmacy intervention, say the researchers.
The model had four stages and was applied to medication reviews at 15 care homes, with 15 homes acting as controls.
The researchers conclude that their micro-costing model can be used successfully in costing a pharmacy intervention.
Citation: The Pharmaceutical Journal DOI: 10.1211/PJ.2014.20067158
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