Final Exam Flashcards
What is Cost Effectiveness Analysis (CEA)?
Compares: Cost and Effect
- cost is money
- effect is something clinical
What is Cost Minimization Analysis (CMA)?
Compares: Cost vs Cost
- determination is made that all the drugs are the same clinically, therefore compares the cost of each
- clinical equivalence= CMA
What is Cost Utility Analysis (CUA)?
Compares: cost and outcome
- cost= money
- outcome= quality of life years (QALY); patients well being
What is Cost Benefit Analysis (CBA)?
Compares: cost and benefit
- cost is money
- benefit is what they plan to gain, usually converted to a dollar amount; government programs or new initiatives
What is a deductible?
an amount of expense that must be paid out of pocket before an insurer will pay any expenses
What is a Co-pay?
a fixed payment for a covered service, paid when an individual receives services
What is Coinsurance?
a percentage of the bill that you pay (assuming that you have no met any deductibles)
What is Catastrophic Cap/Limit?
the maximum out-of-pocket expense for the patient during a defined period of time
What is Tier 1?
Preferred generic: this is your lowest-cost tier, low cost preferred generic drugs and some preferred brand drugs
What is Tier 2?
Generic: this is a lower cost tier, and includes preferred generic drugs and some preferred brand drugs
What is Tier 3?
Preferred brand: this is your middle-cost tier, and includes preferred brand drugs and non-preferred generic drugs
What is Tier 4?
Non-preferred brand: this is your higher-cost tier and includes non-preferred brand drugs and non-preferred generic drugs
What is Tier 5?
Specialty tier: the specialty tier is your highest-cost tier, a specialty tier drug is very high cost or unique prescription drugs which may require special handling and/or close monitoring. Tier 5 drugs may be brand or generic
What is step/therapy/prior authorization?
if drug A doesn’t work for the patient the pharmacist or your dr indicates why you cannot use drug A then we will cover drug B
What are quantity limits?
for some medications (often quality-of-life medication), patients may only be authorized a certain number of pills in a designated amount of time
What does refill too soon mean?
the insurance company may require that a certain amount of the medication is used before the patient can refill it
What is an age limitation mean?
if a person is too old or too young, the adjudication of the prescription will be rejected (ex: Strensiq for patients over 1 years of age)
What is a gender limitation?
if a person is not the expected gender, the adjudication of the prescription will be rejected (ex: PDE5 inhibitors for women)
What is an economic case?
- the financial benefits outweigh the financial costs
- however, the financial benefits may not be to the same source that has to pay the costs
What is a social case?
- the intervention benefits society but does not necessarily have any financial basis
What is a business case?
- the source of the investment receives a financial return in a reasonable amount of time
- if the company is going to invest money, you can show them how they will get more money back
What is CMS star rating?
- a five star quality rating system that rates medicare prescription drug plans
- 15 measures (Part D)
- measures can change and “passing” threshold will continue to go up
What does the pharmacist do for CMS star ratings?
- check for high risk medications in the elderly
- percentage of patients who are eligible and received MTM comprehensive medication review (CMR)
- adherence: DM, HTN, Cholesterol
Why do we care about CMS star ratings?
- plans care: more patients are picking their plans based on star ratings, if chronic poor rating, CMS could drop the plan.
- > specific pharmacies are not given star ratings, but how hard would it be if your plan’s numbers weren’t looking good to simply remove low performing pharmacies for their network