Intro Flashcards
What is the definition of PE?
Description & analysis of drug therapy costs to health care systems and society
What is the function of PE?
Identify, measure & compare the costs & consequences of pharmaceutical products/services
What is the purpose of outcome research?
Assesses the clinical, economic, and humanistic outcomes associated with a product or service
What are the types of outcomes?
- Clinical
- Economic
- Humanistic
What are clinical outcomes?
Results of treatment with a drug (prevention or cure, ADR, toxicity)
What are economic outcomes?
Costs associated with a therapy (labor, equipment, monitoring)
What are humanistic outcomes?
Involves patients’ POV (patient’s feeling and perceptions)
What is cost analysis?
Studies related to a product or service’s cost
What are clinical/outcome analysis?
Studies related to the outcomes that result from a product or service
What does PE study?
Both costs and outcomes related to a product or service
When will HCP use PE?
To assess and determine if the benefits from the new product or service is worth the additional cost to provide at their facility
What type of services or new products are usually added to pharmacies, hospitals, or clinics?
- Add an additional healthcare cost
- Carry minimal benefit over current treatments or services
Describe the importance of PE?
TO understand how to manage limited resources most effectively and efficiently
What are the benefits of PE?
Doing more with less achieving the best outcomes with limited resources
What type of data is important for decisions related to healthcare?
- Appropriate drug selection for hospital or insurance formulary
- Management strategies for certain disease states (guidelines)
- Appropriate drug selection to treat patients’ medical conditions
- Implementation of new services within a pharmacy, hospital, or clinic
How does healthcare providers use PE?
Aim to provide optimal patient care to help patients achieve the best outcome
How does insurance payers use PE?
Manage rising costs by assessing costs, safety, efficacy, and effectiveness of all treatment options
How does PE bridge the gap between health care and insurance?
To estimate the value of patient outcomes received for the money spent on medications and other healthcare products & services
How is the individual patient affected by PE?
HCP assess each patient based on factors to determine best treatment plan
How does PE affect patients on a community level?
Implementing a new service at hospitals or pharmacy, admins would assess the costs and values for providing new services
What are factors that are assessed in PE? Examples?
- Probability: reimbursement minus costs for pharmacists to provide vaccinations at pharmacy
- Improved patient outcomes: CCM, RPM, Services could reduce the costs of other $$$ services
- Improved quality of care: adding a clinical pharmacist to the healthcare team, Improved quality measures for primary care providers
How does PE affect patients on a population level?
health-system, managed care orgs, or gov plans
In what ways do HCP collaborate to establish effective therapies or patient populations?
- Development of drug formularies and patient copayments (tier system)
- Development of drug-use guidelines (step therapy)
What is a step therapy?
Trial of less expensive meds failed before coverage of expensive options
