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Dr Renee Arnold Discusses Genomics and Budgetary Impact Modeling
Genomics are important in determining cost effectiveness because they ensure that the right agents are being used on the patients for which the treatment was intended, explained Renee JG Arnold, PharmD, RPh, practice lead for health economics and outcomes research at Quorum Consulting, Inc.
Genomics are important in determining cost effectiveness because they ensure that the right agents are being used on the patients for which the treatment was intended, explained Renee JG Arnold, PharmD, RPh, practice lead for health economics and outcomes research at Quorum Consulting, Inc.
What is the role and importance of genomics during cost effectiveness discussions?
Well, when we’re talking about mutations that are more likely to demonstrate a better health outcome for a particular patient rather than using an expensive medication across the board. Here, genomics helps you target what would be an appropriate medication for a particular person, and so you’re more likely to get a cost effective outcome, if you will, if you’re targeting a patient with the mutation for which that agent is meant.
What is budgetary impact modeling and how is it used within specialty pharmacy?
Generally, when you’re doing budgetary impact modeling it’s more of a policy analysis, and typically you’ll look for a market mix, if you will, of different kinds of therapeutic options for a patient with a particular disease. And you’ll look to see how that mix may change over time and what that will do to, let’s say for example, the pharmacy budget. And so it’s really essential to look at this budgetary impact and see over time what’s the prevalence of the disease, what’s the incidence of the disease, and over what period of time will the patient require therapy.
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