Applying micro-costing methods to estimate the costs of pharmacy interventions: an illustration using multi-professional clinical medication reviews in care homes for older people
Applying micro-costing methods to estimate the costs of pharmacy interventions: an illustration using multi-professional clinical medication reviews in care homes for older people
OBJECTIVES: Economic methods are underutilised within pharmacy research resulting in a lack of quality evidence to support funding decisions for pharmacy interventions. The aim of this study is to illustrate the methods of micro-costing within the pharmacy context in order to raise awareness and use of this approach in pharmacy research.
METHODS: Micro-costing methods are particularly useful where a new service or intervention is being evaluated and for which no previous estimates of the costs of providing the service exist. This paper describes the rationale for undertaking a micro-costing study before detailing and illustrating the process involved. The illustration relates to a recently completed trial of multi-professional medication reviews as an intervention provided in care homes. All costs are presented in UK£2012.
KEY FINDINGS: In general, costing methods involve three broad steps (identification, measurement and valuation); when using micro-costing, closer attention to detail is required within all three stages of this process. The mean (standard deviation; 95% confidence interval (CI) ) cost per resident of the multi-professional medication review intervention was £104.80 (50.91; 98.72 to 109.45), such that the overall cost of providing the intervention to all intervention home residents was £36,221.29 (95% CI, 32 810.81 to 39 631.77).
CONCLUSIONS: This study has demonstrated that micro-costing can be a useful method, not only for estimating the cost of a pharmacy intervention to feed into a pharmacy economic evaluation, but also as a source of information to help inform those designing pharmacy services about the potential time and costs involved in delivering such services.
237-247
Sach, Tracey H
5c09256f-ebed-4d14-853a-181f6c92d6f2
Desborough, James
5ec7cf8c-01fe-40ab-ba59-2ffa7057be46
Houghton, Julie
0fa84e15-dd35-4c7e-b5df-3563629b2686
Holland, Richard
f2fb8045-c472-4243-95c3-84256ed043a2
August 2015
Sach, Tracey H
5c09256f-ebed-4d14-853a-181f6c92d6f2
Desborough, James
5ec7cf8c-01fe-40ab-ba59-2ffa7057be46
Houghton, Julie
0fa84e15-dd35-4c7e-b5df-3563629b2686
Holland, Richard
f2fb8045-c472-4243-95c3-84256ed043a2
CAREMED study team
(2015)
Applying micro-costing methods to estimate the costs of pharmacy interventions: an illustration using multi-professional clinical medication reviews in care homes for older people.
International Journal of Pharmacy Practice, 23 (4), .
(doi:10.1111/ijpp.12162).
Abstract
OBJECTIVES: Economic methods are underutilised within pharmacy research resulting in a lack of quality evidence to support funding decisions for pharmacy interventions. The aim of this study is to illustrate the methods of micro-costing within the pharmacy context in order to raise awareness and use of this approach in pharmacy research.
METHODS: Micro-costing methods are particularly useful where a new service or intervention is being evaluated and for which no previous estimates of the costs of providing the service exist. This paper describes the rationale for undertaking a micro-costing study before detailing and illustrating the process involved. The illustration relates to a recently completed trial of multi-professional medication reviews as an intervention provided in care homes. All costs are presented in UK£2012.
KEY FINDINGS: In general, costing methods involve three broad steps (identification, measurement and valuation); when using micro-costing, closer attention to detail is required within all three stages of this process. The mean (standard deviation; 95% confidence interval (CI) ) cost per resident of the multi-professional medication review intervention was £104.80 (50.91; 98.72 to 109.45), such that the overall cost of providing the intervention to all intervention home residents was £36,221.29 (95% CI, 32 810.81 to 39 631.77).
CONCLUSIONS: This study has demonstrated that micro-costing can be a useful method, not only for estimating the cost of a pharmacy intervention to feed into a pharmacy economic evaluation, but also as a source of information to help inform those designing pharmacy services about the potential time and costs involved in delivering such services.
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Published date: August 2015
Additional Information:
© 2014 Royal Pharmaceutical Society.
Identifiers
Local EPrints ID: 480805
URI: http://eprints.soton.ac.uk/id/eprint/480805
ISSN: 0961-7671
PURE UUID: 46a14996-97ee-4afd-9a12-aa80692de695
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Date deposited: 09 Aug 2023 17:14
Last modified: 17 Mar 2024 04:20
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Contributors
Author:
Tracey H Sach
Author:
James Desborough
Author:
Julie Houghton
Author:
Richard Holland
Corporate Author: CAREMED study team
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