Pharmacoeconomics in the years of crisis: a solution or just a resolution? A Cyprus perspective

Abstract

Cyprus is one of the latest countries to apply for a bailout with Troika. Major reforms applied and health sector was massively restructured. Cyprus is currently the single EU country without a Health System and health care spending is primarily driven by out-of-pocket payment. Pharmaceutical sector is divided into private and public sector, which are fragmented and are highly heterogeneously regulated. Although there is a need to introduce economic evaluations for pharmaceuticals, current adverse and unstable economic environment, along with some attributes of the country are not good prognostic factors. We suggest that some forms of economic evaluations could be introduced selectively during recession. Unification of health sector in the form of a National System would enable full scale introduction of economic evaluations.