University of Florida

Research methods from the discipline of pharmacoeconomics are applied to pharmaceutical outcomes research. Advanced training in these research methods includes:

• economic evaluations: cost minimization, cost benefit, cost effectiveness and cost utility evaluation systematic literature reviews and meta-analyses
• stochastic modeling: including Markov modeling and Monte Carlo simulation, Bayesian modeling

With a concentration in pharmacoeconomics a graduate will be able to design a pharmacoeconomic study employing economic burden of illness, cost minimization, cost benefit, cost effectiveness or cost utility analyses. The student will be able to select the appropriate perspective for the cost equation, distinguish between costs and charges, apply discount rates, and conduct sensitivity analyses. The student will be able to establish the effectiveness in money equivalents; and select clinical parameters or utilities using results from clinical trials, observational studies or meta-analyses .