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3/ HES > Health Economics: Introduction and Overview > Flashcards

Health Economics: Introduction and Overview Flashcards

1
Q

What is scarcity?

What do economic analyses do?

A
  • scarcity is the idea that resources are limited

- health analyses help decisino-makers faced with choices concerning resource scarcity

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2
Q

What is the difference between a normative and postive stance on economic analyses?

A 
Normative = certain objectives are to be achieved, base decision on this 
Positive = predict observable factors on costs and benefits
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3
Q

What is involved in health economics?

A 
A - things that influence health 
B - what is health? value of health
C - demand for healthcare
D - supply of healthcare
E - microevaluation at the treatment level 
F - market equilibrium 
G - evaluation at whole system level 
H - planning budgeting and monitoring mechanisms
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4
Q

What is opportunity cost?

A

the value of the consequence forgone by choosing to deploy resources in one way rather than in their best alternative use

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5
Q

What is technical efficiency?

A
  • producing output in the best way possible, without wasting scarce resources
  • meeting a given objective at least cost
  • e.g. treatments for glue ear, which is the best treatment?
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6
Q

What is allocative efficiency?

A
  • producing the pattern of output that best satisfies the pattern of consumers wants or needs
  • do we treat glue ear or do we treat something else/?
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7
Q

What are the key objectives of economic analysis?

A
  • to promote the efficient use of healthcare resources

- to ensure the maximum total benefit is derived from the finite resources available

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8
Q

Define economic evaluation

A
  • a comparative analysis of alternative courses of action in terms of both costs and consequences
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9
Q

What are the main types of economic evaluation?

A
  • cost effectiveness analysis
  • cost utilty analysis
  • cost consequence analysis
  • cost minimisation analysis
  • cost benefit analysis
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10
Q

What is cost-utility analysis?

A
  • must consider QoL

in Quality Adjusted Life Years (QALY’s)

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11
Q

What is cost-effectiveness analysis?

A
  • must choose one single outcome
  • in natural units
    e. g. lives saved, increased survival
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12
Q

An incremental economic evaluation answers the following question:

A

What is the difference in costs and the difference in consequences of option A compared to option B

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13
Q

What is meant by marginal benefit?

A
  • the increase in befit as a result of increasing production by one additional unit
  • average benefit goes down and so does marginal benefit
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14
Q

What is meant by marginal cost?

A
  • the increase in costs as a result of increasing production by one additional unit
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15
Q

What is the difference between marginal and incremental cost?

A
  • the increase in costs as a result of increasing production by one additional unit
  • incremental is the additional cost comparing A and B
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16
Q

What is the decisions rule for cost-effectiveness analysis?

A
  • dominance = new intervention is cheaper and better

- CE ratio = difference in costs/differnce in consequences

17
Q

What kind of questions can CEA address?

A

technical efficiency questions

- what is the best way to treat glue ear?

18
Q

What is the ICER

A

incremental cost effectiveness ratio
difference in costs/differences in benefits
- gives you £ per extra unit of benefit

19
Q

Why is CUA preferred over CEA?

A
  • CEA hard to judge if it is good value as in natural units
  • preferred CUA as QALY’s used
  • QALY’s help with allocative efficiency as you can compare across interventions
20
Q

What does NICE consieer to be cost effective?

A

less than £20,000 per QALY

21
Q

Define equity

A
  • attempting to address equitable concerns requires a departure from the pursuit of maximisation to enzsre a more equal distribution in the relevant outcome
  • focuses on pursuit of a fair distribution and the burden of finance
22
Q

What is healthcare needs to be fair?

A
  • health
  • the use of healthcare
  • access to healthcare
23
Q

What is horizontal equity?

A

people with equal health needs receive equal treatment, irrespective of demographic

24
Q

What is vertical equity?

A

individuals with unequal needs should be treated according to their differential need

25
Q

What are the limitations to horizontal equity?

A

geography, waiting times, patient info

differences in the units of measurement

26
Q

What are the limitations to vertical equity?

A

operationally difficult
how unequal do conditions need to be?
financing

3/ HES (22 decks)

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