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Pharmacoeconomics

Meaning

Pharmacoeconomics is an applied field of health economics that systematically evaluates the cost and value of pharmaceutical products and clinical pharmacy services, often comparing different therapeutic interventions. It provides a structured, analytical framework for assessing the total costs, both direct and indirect, relative to the clinical outcomes and patient quality of life achieved. This discipline is crucial for informing formulary decisions, healthcare policy, and guiding clinical resource allocation in the hormonal health space.