Online Master's Programs in Health Economics & Pharmaeconomics

How to Earn an Online Master's Degree in Health Economics and Pharmacoeconomics

There is at least one online Master of Science (MS) in Pharmaceutical Economics and Policy programs available for part-time students, as well as an online master's program in pharmaceutical outcomes and policy with a specialty track in applied pharmacoeconomics. These degree programs may range between 32 and 36 credits, may take up to 2 years to complete, and usually do not require a thesis in the online format, but may include a final comprehensive exam that might need to be completed on-campus. Coursework for these degree programs usually comes from multiple fields, including economics, pharmaceutical economics and policy, research methods, and epidemiology. Below, we explore a handful of these courses in greater detail.

Introduction to Outcomes

Students may take one or more courses that provide an introduction to foundational concepts in health economics and pharmaceutical outcomes research. Some of these courses may include discussions of policy and give students a look at the bigger picture of the US pharmaceutical industry. Other courses may focus on economic evaluation, outcomes research, methods in the field, and how to apply these techniques in various healthcare environments, such as pharmaceuticals.

Quantitative Methods

Courses in quantitative methods help equip students with the necessary statistics and biostatistics techniques used to analyze data in the healthcare field. Students can apply these techniques to areas of public health, epidemiology, and more. Students also have a chance to further develop their abilities to evaluate statistical tests and findings in research papers relevant to the field. Other topics for these courses may include sampling, parametric statistics, descriptive statistics, confidence interval, power, and hypothesis testing.

Epidemiology

Some programs may include a foundational course in epidemiology to introduce students to the concepts and terminology of the field. Students in the course study the analytical skills needed to navigate epidemiologic literature and how to use population data information that they gather to improve healthcare decision-making. Other topics for these courses may include risk assessment, screening, and bias.

Pharmaceutical Economics

Students may take multiple courses in pharmacoeconomics or more focused courses such as pharmaceutical microeconomics. Either way, these courses are designed to teach students the economic principles and techniques that can be applied to healthcare markets and the pharmaceutical industry. Students explore topics in the distribution, consumption, and production of healthcare services and learn how to analyze and assess pharmaceuticals and healthcare markets. Other topics discussed in these courses may include regulation and pricing, insurance, economic health intervention assessment, decision-making, and incentives.

Analysis/Modeling

Courses in analysis and modeling vary by program and go by several different names, such as courses in regression analysis, data analysis, or pharmacoeconomic modeling. In general, these courses aim to equip students with skills in data analysis that they can use in research and decision-making. Some courses may focus on statistical tools, while others might look at using statistics to create analytic models for research and cost-effective analysis. Typically, these courses give students hands-on experience with statistical software and models.

Admittance Requirements for Master's Programs in Health Economics and Pharmacoeconomics

Both in-person and online master's degree programs in the field of health economics and pharmacoeconomics generally require applicants to have at least a bachelor's degree. Typically, students need to have a bachelor's degree in pharmacy, economics, statistics, or another closely related field, or a professional degree in the healthcare field, such as a doctorate or master's in pharmacy, medicine, public health, dentistry, and more. It is also fairly common for these degree programs to require students to meet a minimum GPA of 3.0, and some programs may require that students submit GRE test scores, but many online master's programs in the field do not require the GRE. Some on-campus programs may require students to have prior coursework in areas like calculus, statistics, and economics. Other common application materials for these master's degree programs include transcripts, a resume or CV, and/or letters of recommendation, as well as English proficiency test scores for international students.

There are at least a couple master's degree programs in the field of health economics and pharmacoeconomics that are available in mostly online formats; they may have students complete some on-campus requirements, like an in-person final exam. Students may need to take between 32 and 36 credits of coursework in areas like economics, research methods, and modeling.