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The following HTML text is provided to enhance online readability. Many aspects of typography translate only awkwardly to HTML. Please use the page image as the authoritative form to ensure accuracy. TABLE 6-1 Summary of Cost Analysis for Two Treatment Groups, Including Drug and Ancillary Expenses
ECONOMICS OF RESTRICTIONS ON PHARMACEUTICALSPresented by Douglas L. Cocks, Ph.D. Senior Research Scientist for Health Economics, Health Services and Policy Research, Eli Lilly and Company Historically, most formularies were established as a mechanism for reducing costs by limiting access to certain pharmaceuticals. Results from 30 studies that analyzed the effects of formulary restrictions indicated otherwise, especially when overall costs were considered (Figure 6-4). It is important to acknowledge, however, that this investigation was not a true meta-analysis. These 30 studies not only varied considerably in quality but also involved many different health care settings and a wide range of providers and payers, including hospitals, managed care organizations, Medicaid, and nursing homes.* Although the findings suggest that formularies can control drug costs in some cases, these results further indicated that use of formularies was associated with increases in the costs of other health care services as well as overall costs. Nevertheless, all of these studies were deficient in one major area: none analyzed the effects of formulary restrictions on the health outcomes of patients. Research needs to concentrate on this area.
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