Healthcare Budget

Question 1

Opportunity costs

Answer 1

the forgone benefit that would have been derived from an option not chosen. To properly evaluate opportunity costs, the costs and benefits of every option available must be considered and weighed against the others.

Question 2

Reasons increase healthcare budget

Answer 2

Technological innovations
Higher expectations
Aging
Need for help

Question 3

Mitigating increasing healthcare costs

Answer 3

Government control on prices
Introducing gatekeepers
Utilize eHealth
Consider advance care planning

Question 4

Cost-consequence analysis

Answer 4

Comparing cost/consequences by interpretation, relative uncommon through objective assumption of assessor

Question 5

Cost-minimization evaluation

Answer 5

Two identical options, lowest cost preferred.

Difficult to put weight on values

Question 6

Cost-effectiveness

Answer 6

ICER by using (i.e., QALYs).
No monetary value on health
Analaysis says nothing on the expectations on its own

Question 7

Cost-utility analysis

Answer 7

Highlights the use of generic PROMs which potentially permits cross-study comparison

Question 8

Cost-benefit analysis

Answer 8

Attempts to place montary value on health via human capital approach and willingness-to-pay approach

Question 9

CB-analysis: Human capital approach (HCA)

Answer 9

Estimates the (lost) productivity costs due to illness (based on gross wage)

Question 10

CB-analysis: FCA

Answer 10

Unlike the HCA, the FCA does consider filed in unemployment, but might be a bit too optimistic in finding replacement workers.
Rejects traditional micro-economic theory