flows and the required cost of capital, can be used to validate the price of the new drug from a narrow investor's perspective. The free cash flow represent the sales from the pharmaceuticals, and cash necessary for capital expenditures represent the costs for research & development (R&D) and marketing. The cost of capital refers to the opportunity cost of making a specific investment, which is the rate of return required to persuade the investor to make a given investment. Conclusion: We propose a policy approach for the evaluation of innovative drugs by bridging concepts from health economics and business economic valuation. This approach may justify a drug price from an investor's perspective when the ICER exceeds the threshold and may be used in negotiations between governments and companies.
OBJECTIVES: The Pharmacy and Therapeutics Committee (P&TC) is a policy recommending and enforcing body which oversees the adoption of effective formulary system within the health care organization, the aim of the study is to explore the characteristics of P& TC in tertiary and secondary hospitals in Riyadh city, Saudi Arabia. METHODS: A cross-sectional survey targeted hospital pharmacy mangers in Riyadh city in 2014. The survey gathered information about P&TC organizational, communicational and functional characteristics. RESULTS: Of 30 hospital pharmacies, 23 (76.6%) pharmacy managers responded, 21(70%) hospitals met the inclusion criteria, 15 (71.4%) are governmental and 6 (28.6%) are private hospitals. Of 21 hospitals, 20 (95.2%) have P&T Committee. 15 (71.4%) committees have all required written policies and procedures that govern the committee business. The average total number of the P&T committee members is 13.5 (SD= 5), and dominated by physicians, pharmacists, and nurses (6.9 (SD= 3.4), 2.7(SD= 1.2), and 1.4(SD= 0.8)) respectively. 89.5% of these committees are chaired by physicians and 100% of them are coordinated by the pharmacists. Only 9 (45%) of the committees distribute the meeting agenda to their members 6 days or more before the meeting date. The average number of meetings is 12 (SD= 6) meeting per year, drug availability, formulary change updates, drug safety related issues were frequently discussed in each meeting of 11(55%) hospital P&T committees. Formulary non adherence is less frequently, and prescribing guidelines is the least frequent.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.