Implementation of Principles of Pharmaco-economics and Pharmacovigilance to Achieve Optimal Financial and Therapeutic Benefits through WHO- Essential Medicine Policy

Abstract

It is evident and revealed by the experience of State of Maharashtra during 2007-2011, that the Effective Application of principles of pharmaco-economics & pharmacovigilance in Medication Management, not only gives assurance about the all-time availability and quality of essential medicines but also saves substantial amount of government exchequer, by procuring the Assured Quality Generic Medicines at most economic rates. These policies were based on following principles of Pharmaco-economic: 1. Selection of Generic Medicines based on W.H.O. Essential List of Medicines. 2. Pooling of need of medicines of all state run hospitals at state level to obtain lowest rates through economies of scale. 3. Selection of “Quality Assured Generic Medicines-through Pre-Qualification conditions. 4. Selection of multiple suppliers per medicine to improve all time availability of essential medicines. 5. Reducing expenditure and workload of procurement, storage and inventory of medicines. 6. Curtailing wastage of funds on procurement of non-essential medicines. Pharmacovigilance-The policy of limited number of essential medicines had been further helped in improving the health care services in the state of Maharashtra, by: 1. Promoting Ethical & Rational use of medicines at physicians, nurses & pharmacists level through publication of “State Hospital Formulary”. 2. Protecting the health of patients from use of harmful effects of non-essential medicines & irrational Fixed Dose Combinations (FDCs). 3. Improving patient compliance to the therapy by patients through establishment of “Patient Counseling Centers” at Out Patient Departments in the hospitals and by optimal utilization of pharmacy services. The overall boost in the Image of public healthcare services–The availability of quality assured generic medicines, had gained the confidence of physicians, and had reduced the expenditure on hospital stay of the patients because of fast recovery. And all these benefits together had boosted overall image of the hospital in the society.