PHARMAC economic analysis and “savings” claims
Research, New Zealand Institute of Economic | October 2018
Abstract
PHARMAC frequently claims that it achieves savings through its negotiations practices and approvals process for new medicines.
In the 2017 financial year, PHARMAC claims to have achieved $52 million in savings for New Zealand. PHARMAC further claims that between 2005 and 2016, it saved the District Health Boards nearly $6 billion.2
This note provides an explanation and critique of these claims, and a summary of the economic analysis, negotiating strategies, and decision criteria used by PHARMAC as well as the consequences of PHARMAC’s approach. It also includes examples that illustrate the trade-offs that are less visible in funding decisions.
Citation
Research, New Zealand Institute of Economic. 2018. PHARMAC economic analysis and “savings” claims. © New Zealand Institute of Economic Research. http://hdl.handle.net/11540/8928.Keywords
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