Pharmacoeconomic analysis of drug expenditure in government medical college and hospital, Vijayawada, India
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Date
2018-05
Journal Title
Journal ISSN
Volume Title
Publisher
Medip Academy
Abstract
Background: To conduct economic analysis in tertiary care hospital with a view to identify the categories of drugs needing stringent management control.Methods: The annual consumption and expenditure data is obtained from the drug store of government general hospital, Vijayawada, for the period of April 2015 to March 2016. ABC-VED analysis of the drugs are done based on cost and criticality criteria respectively. ABC-VED matrix analysis was done to classify drugs into category I, II, III.Results: The total annual drug expenditure incurred on 299 drug items for the year 2015-2016 was found to be Rs:4,47,04,446. On ABC analysis, 4%, 9.36%, 86.64% of drugs were found to be Always, Better, and Control category items respectively, amounting to 68.92%, 20.05%, 11.03% of annual drug expenditure. VED analysis showed that 32.10%, 45.5%, 22.4% of drug items were Vital, Essential, and Desirable category items respectively, amounting to 35.3%, 37.1%, 27.6% of annual drug expenditure respectively. By ABC-VED matrix analysis, 34.11%, 46.49%, 19.4% of drug items were found to be category I (high stringent), II (medium stringent), III (low stringent) respectively, amounting to 80.76%, 17.46%, 1.77% of annual drug expenditure respectively.Conclusions: The study identified 34.11% of drug items belonging to category I which require high priority monitoring. Inventory management tools must be routinely used for the better control and judicious use of the resources.
Description
Keywords
ABC analysis, ABC-VED matrix, Inventory management, Pharmacy, VED analysis
Citation
Reddy Y. Bala Suresh Kumar, K. Sankar. Pharmacoeconomic analysis of drug expenditure in government medical college and hospital, Vijayawada, India. International Journal of Basic & Clinical Pharmacology. 2018 May; 7(5): 873-877