Applied pharmacoeconomics: modeling data from internal and external sources.

Abstract

The use and application of techniques for modeling data obtained from various data sources are discussed. Modeling with internal and external data has become a popular way for health care organizations to apply pharmacoeconomics to pharmacy practice. Modeling studies use existing clinical and epidemiologic data to project the effect of a clinical, policy, or medication decision on a patient, population, or organization. Although several modeling techniques have been used in health care, the most common approaches are to modify and adapt existing models or to develop a unique model to answer questions of interest in a specific practice setting. Typically, an economic model developed by adapting an existing one will use either the clinical decision-analysis or Markov modeling technique. Regardless of the technique used, external data must be carefully evaluated to ensure that the data are appropriate for use in making decisions at a specific organization. For example, cost data must be analyzed to ensure that the calculations are reproducible. Also, it must be acknowledged that this strategy may not always be appropriate. The use of modeling techniques can assist decision-makers in making more informed clinical, policy, and medication decisions in real-world settings. Caution is required when adapting and interpreting existing models to ensure appropriate application in a specific organization.