SOURCE: Cutting Edge Information

September 25, 2007 07:24 ET

Explaining Data: A Top Challenge for Pharmacoeconomic Departments

RESEARCH TRIANGLE PARK, NC--(Marketwire - September 25, 2007) - Providing economic data that is both methodologically sound and decipherable by other departments is a top challenge for pharmacoeconomic departments, according to a report by Cutting Edge Information, "Pharmacoeconomics and Health Outcomes: Driving Formulary Access and Reimbursement" (http://www.pharmacoeconomicsandhealthoutcomes.com).

In many cases, visual and communication aids that provide straightforward scientific analysis can help other departments better understand the data. Successful departments consult with medical and marketing colleagues to help them understand pharmacoeconomics information and how the data fits into larger brand management pictures.

Pharmacoeconomic departments are successful when other departments are trained to apply the information. In fact, one of the studied companies provides a three day training program to share this knowledge. A different company assigns members of its pharmacoeconomics team to assist other departments in analyzing and using the data.

"Even the most sophisticated analysis won't be beneficial if other departments aren't able to apply it to their work," said David Richardson, a senior research analyst at Cutting Edge Information. "In fact, one executive we spoke with feels that it is better to keep complex analysis inside the pharmacoeconomics department and to provide simpler, more actionable data to external departments so that it can be better understood."

"Pharmacoeconomics and Health Outcomes: Driving Formulary Access and Reimbursement," available at http://www.pharmacoeconomicsandhealthoutcomes.com, features key graphics and metrics highlights including:

--  Pharmacoeconomics Budgets
--  Phase-to-Phase Brand-Level Pharmacoeconomics Spending
--  Departmental Monetary and Time Resource Allocations
--  Structures and Staffing
--  Departmental Funding Responsibilities
    

To view a summary of this report, visit http://www.cuttingedgeinfo.com/pharmacoeconomics/PH99_Download.asp#body.

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