Korean Guidelines for Pharmacoeconomic Evaluations: Updates in the Third Version

Eun Young Bae, Jihyung Hong, Seung Jin Bae, Seokyung Hahn, Hyonggin An, Eun joo Hwang, Seung min Lee, Tae jin Lee

Research output: Contribution to journalArticlepeer-review

8 Scopus citations


The first version of the pharmacoeconomic (PE) guidelines was published in South Korea in 2006. Despite its first revision in 2011, there were still ambiguities in its interpretation. Moreover, methodologies for estimating effectiveness and costs have also evolved since then. Under these circumstances, the Health Insurance Review and Assessment Service published the third version in January 2021. This article reviews the revision process and major changes made in the new edition of the PE guidelines. The revision was processed through reviews of the previous 50 PE submissions, international guidelines, academic literature, and surveys and advisory meetings to obtain stakeholders’ opinions. The analysis perspective has changed from a limited societal perspective to a healthcare system perspective. In addition to the drug with the highest market share, drugs used in clinical trials can be selected as comparators under certain conditions. The discount rate decreased from 5% to 4.5%. Furthermore, the revised guidelines provide more detailed and specific instructions for items including non-inferiority margin, extrapolation, utility elicitation, and uncertainty. Treatment switch and co-dependent technology guidelines are newly included; the budget impact analysis guideline is deleted. Through this revision, transparency and consistency of decision-making is expected to improve.

Original languageEnglish
Pages (from-to)467-477
Number of pages11
JournalApplied Health Economics and Health Policy
Issue number4
StatePublished - Jul 2022

Bibliographical note

Funding Information:
This study was supported by Health Insurance Review and Assessment Service.

Publisher Copyright:
© 2022, The Author(s), under exclusive licence to Springer Nature Switzerland AG.


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