FACTORS AFFECTING PHARMACEUTICAL EXPENDITURES- A SYSTEMATIC REVIEW & ECONOMIC MODELLING FOR GREECE
Author(s)
Maniadakis N1, Kourlaba G2, Zavali M1, Zampoulakis D3, Kourkouni E2, Mylonas C1
1National School of Public Health, Athens, Greece, 2Collaborative Center of Clinical Epidemiology and Outcomes Research (CLEO), Non-Profit Civil Partenrship, Athens, Greece, 3State University of New York at Stony Brook (SUNY Stony Brook), New York, NY, USA
OBJECTIVES: The aim of this study is to analyse the determinants of pharmaceutical expenditure and to develop an economic model for policy purposes, which is applied in Greece. METHODS: A literature search was undertaken to identify studies concerned with the drivers of pharmaceutical expenditure. Data on selected variables were retrieved from World Bank and WHO for EU countries for the years 2000-2015. A logarithmic regression model was estimated and was used to predict per capita pharmaceutical expenditure (PCPE) for Greece, potential savings from interventions and a target budget, based on country features and under an efficient policy scenario. RESULTS: The review identified several demographic, economic, health and pharmaceutical market factors. The model indicated that life expectancy, percent of elderly, GDP per capita, percent of pharmaceutical in health expenditure, generic penetration, and drug volume, mix and prices, have statistically significant impact on PCPE . It predicted for Greece a PCPE at $683. If generic use, volume and mix of drugs reach average EU norms the prediction is $655. This remains higher than actual expenditure of $629. The analyses supported an increase between $50 to $280 million in the total pharmaceutical budget. CONCLUSIONS: Not only economic but also demographic and drug utilization factors affect pharmaceutical expenditure. The evidence based approach presented here may be used to guide policies, estimate benefits and set budgets.
Conference/Value in Health Info
2016-10, ISPOR Europe 2016, Vienna, Austria
Value in Health, Vol. 19, No. 7 (November 2016)
Code
PHP103
Topic
Economic Evaluation
Topic Subcategory
Cost/Cost of Illness/Resource Use Studies
Disease
Multiple Diseases