The pharmacoeconomics of high-cost biotechnology products

Biotechnology products have created therapy options in areas that have been historically limited. These improvements in patient care have resulted in a reappraisal of the emphasis placed on product acquisition costs and a movement toward evaluating the impact of the product on the entire health care system. Strategic planning for biotechnology products allows pharmacists to partner with the medical staff and financial/administrative representatives of the institution to measure clinical outcomes, estimate cost and revenue impact, document utilization, and promote cost-effective use of these new therapies to generate the maximum benefit for dollars expended.