Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Evidence Based Pharmacotherapy > Final > Flashcards

Final Flashcards

(63 cards)

Start Studying
1
Q

Costs

A

The value of the resources consumed by the program

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Consequences

A

The effects, outputs, and outcomes of the program or treatment alternative

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Pharmacoeconomics

A

A full evaluation of the costs and consequences differentiates pharmacoeconomics from traditional cost containment strategies and drug use evaluations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Cost vs price vs charge

A

Cost is magnitude of resources consumed in producing a good or service
Charge is what provider asks to be paid- like price
Reimbursement is what is actually paid

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Cost categories

A

Direct
Indirect
Intangible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Direct cost

A

Resources consumed

Involves a transfer of money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Direct medical costs

A

Costs from the fundamental transactions associated with medical care.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Direct nonmedical

A

Exchange of money for something that is not medical care

Example- pay taxi to get to hospital

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Indirect cost

A

Unpaid resource commitment
No money is exchanged
Productivity cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Indirect medical cost

A

Costs that result from the morbidity and mortality of the illness.
Costs ranges in productivity that result from disease or health care interventions.
Missing work, lost productivity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Fixed cost

A

Overhead costs that are relatively constant that nod readily influenced
Heat, rent, lighting
Often not included

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Intangible costs

A

Costs of pain, suffering, anxiety, or fatigue that can occur because of an illness or treatment of illness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What type of cost is drugs?

A

Direct medical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What type of cost is babysitting for the children of a patient?

A

Direct nonmedical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What type of cost is a decrease in lost time from work?

A

Indirect medical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What type of cost is a lab test

A

Direct medical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What type of cost is a pharmacist salary?

A

Direct medical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What type of cost is improvement in sleep awakening

A

Intangible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What type of cost is travel costs to clinic

A

Direct nonmedical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What type of cost is physician time/salary

A

Direct medical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What type of cost is advertising for medical service

A

Direct nonmedical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What type of cost is medical supplies

A

Direct medical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What type of cost is less anxiety from asthma attacks

A

Intangible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Resources for cost estimations

A

Measured directly
Retrospectively from medical records or reimbursement claims
Standard lists of costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Average wholesale price (AWP)
List price, typically higher than what is actually paid by pharmacies
26
Average manufacturers price (AMP)
Calculated to reflect the amount paid to manufacturers by wholesalers Proprietary information
27
The RedBook
Printed AWP info annually
28
Medical Services Cost Resources
Reimbursements rates | Physicians fee reference
29
Medicare Reimbursement
Varies by state | HCPCS
30
Personnel cost resources
Time spent performing activity multiplied by salary and fringe benefits Work measurement methods (stopwatch, logs, etc)
31
How to measure personnel time costs?
Work sampling- observations made at pre-selected times Stopwatch time study- how long to complete an activoty Work logs National compensation survey, bureau of labor statistics (wages)
32
How do you measure hospital services?
Per diem- sum all costs divided by number of patient days | Per diem but seperate out routine services and ancillary services
33
Hospitalization cost resources
Disease specific per diem | Diagnosis-related groups (DRG)
34
Perspective
The point fo view from which the economic analysis is performed
35
Societal perspective
Broadest All direct and indirect costs Most comprehensive but difficult and time consuming to conduct
36
Patient perspective
What the patient pays not covered by insurance. | Morbidity and mortality
37
Hospital perspective
Typically the perspective used to make formulary or drug use policy changes
38
Insurer perspective
Included cost to third-party plan Typically only direct costs Government
39
What was the perspective of a paper measuring the cost of depression that gives you direct costs (outpatient, inpatient, medication), indirect costs, and morbidity costs? None of the costs are coming from the patient.
Societal
40
Adjust for timing
Time associated with money | Do you want 1000 today or in 5 years?
41
Standardization- bringing the past costs to the present
Multiply the costs for each year by the medical inflation rate for that year CPI From bureau of labor statistics
42
Discounting-Bringing future costs to present
Discount factor is the number by which a future cash flow to be received at time T must be multiplied in order to obtain the current value
43
If the discount rate is 5%, what is the discount factor for 2 years?
1/(1+0.05)^2= 0.907
44
So with a higher discount rate, is the money worth more or less in 2 years?
less
45
Sensitivity analysis
Model using different assumptions | Which discount rate to use?
46
CMA
If outcomes not measured, maybe only partial economic analysis? If measure outcomes and they are equivalent, then CEA
47
Cost Benefit Analysis (CBA)
A form of economic evaluation Dollar values for inputs and outputs (outcomes) Maximizes benefit of investment Assumes limited resources
48
Theoretical roots for CBA
Comes from welfare economics and incorporates individual preferences and values to improve social welfare
49
Advantages of CBA
Measuring both costs and benefits in monetary has two main advantages: Decision makers can determine whether the benefits of a program or intervention exceed the cost and can compare multiple programs/interventions with similar or unrelated outcomes
50
Step 1 of CBA
Clearly identify the intervention, program, therapeutic regimen and research to be evaluated. Also identify alternatives, what is the program being compared to? This is the biggest source of bias!
51
Step 2 of CBA
Identify and value all of the resources consumed or costs of providing each intervention
52
Step 3 of CBA
Identify and value all of the benefits of providing the intervention program or regimen. Assign dollar values to all of it.
53
Measuring benefits in CBA
Direct benefits are averted direct medical or nonmedical costs Indirect benefits are averted indirect medical costs Human capital approach
54

Step 4 of CBA

Net benefits= total benefits/total costs
If B/C >1= benefits exceeds costs
Present results

55

Human capital approach

One method to measure indirect benefits
HC approach quantifies the productivity loss (=wage)
Goes back to the welfare theory, what you participate to society matters

56

Human capital approach components

Wage rate

| Missed time because of illness

57

Advantages to human capital approach

Straightforward
Easy to use
Days lost from work easily obtained
Income estimates available

58

Disadvantages of human capital approach

Biased against the unemployed
HC assumes the value of health benefits equals the economic productivity they permit.
Does not incorporate values for pain and suffering if it does impact productivity

59

Willingness to pay

Method that can value both the indirect and intangible aspects of a disease
Determines how much people are willing to pay to reduce the chance of an adverse health outcome

60

Advantages of WTP

Places a dollar value on benefits

61

Disadvantages of WTP

Validity is questioned
Difficult for patients
Compliance bias-overstating WTP
Strategic bias- understating WTP

62

WTP contingent valuation

What are you willing to pay for this intervention?

63

CEA

Cost effeciveness
Cost measured in dollars
Consequences measured in disease (lives saved, cases cured, etc.)
Results are cost-effectiveness ratio

Evidence Based Pharmacotherapy (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions