Pharmacoeconomic analyses are increasingly used to help decision-makers assess the value of health interventions. This value assessment promotes the effective and affordable use of healthcare resources. Different frameworks used in pharmacoeconomic analyses, with a focus on common modeling methods, are discussed. The following pharmacoeconomic analyses are compared and contrasted: cost-of-illness analysis (COI), budget-impact analysis (BIA), cost-comparison analysis, cost-minimization analysis (CMA), cost-effectiveness analysis (CEA), cost-utility analysis (CUA), cost-consequence analysis (CCA), and cost-benefit analysis (CBA). The commonly used modeling methods, including decision trees and Markov models, are compared.