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PHRM 849 > Intro to pharmacoeconomics > Flashcards

Intro to pharmacoeconomics Flashcards

1
Q

What is pharmacoeconomics?

A
  • Description and analysis of costs and consequences of pharmaceuticals and related services
  • Process of identifying, measuring, and comparing the costs, risks, and benefits of programs, services, or therapies
  • Determining outcomes from perspectives of pts, health care system, or society
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2
Q

Why is pharmacoeconomics important?

A
  • Healthcare costs increasing but healthcare outcomes declining (in US)
  • Drugs are expensive
  • Trade off considerations on how to spend resources
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3
Q

What is classifying costs?

A

Calculated to estimate the resources used in production of an outcome

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4
Q

What are the 4 types of classifying costs?

A
  1. Direct medical costs
  2. Direct non-medical costs
  3. Indirect costs
  4. Intangible costs
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5
Q

What is direct medical cost?

A
  • Medical costs for providing tx
  • Ex. med cost, physician visits
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6
Q

What is direct non-medical cost?

A
  • Costs to pt/family directly associated w tx, but not medical in nature
  • Ex. cost of transpo to clinic, babysitter, etc
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7
Q

What is indirect cost?

A
  • Costs that result from loss of productivity bc illness or death
  • Do not involve transfer of money
  • Ex. missed work or school days
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8
Q

What is intangible cost?

A
  • Costs of pain, suffering, anxiety, or fatigue due to illness or tx
  • Difficult to measure and assign value
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9
Q

What is cost perspective?

A

Describes whose costs are relevant based on purpose of pharmacoeconomic study

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10
Q

What are the types of perspective?

A
  • Pt
  • Institution
  • Payer
  • Society
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11
Q

What are the 4 types of pharmacoeconomic analyses?

A
  • Cost-minimization analysis
  • Cost-benefit analysis
  • Cost-effectivenes analysis
  • Cost-utility analysis
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12
Q

What is cost-minimization analysis?

A
  • Used to compare costs of interventions w equivalent clinical outcomes
  • Ex. generic v brand
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13
Q

What is the measurement unit of CMA?

A

Dollars

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14
Q

What is the outcome measurement unit of CMA?

A
  • Not measured
  • Assumed to be equivalent
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15
Q

What are the advantages of CMA?

A
  • Simplicity
  • No assessment of outcome
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16
Q

What are the disadvantages of CMA?

A
  • ONLY useful when outcomes are equal
17
Q
A
18
Q

What is cost benefit analysis (CBA)?

A
  • Measures costs of interventions and outcomes in monetary units
  • Determines which intervention provides best monetary benefit
  • Must assign monetary outcome to clinical endpoints
19
Q

What is the cost measurement unit of CBA?

A

Dollars

20
Q

What is the outcome measurement unit of CBA?

A

Monetary unit

21
Q

What is the advantage of CBA?

A

Allows comparison of interventions with different outcomes

22
Q

What is disadvantage of CBA?

A

Requires assigning monetary value to pain, suffering, life

23
Q

What is cost effectiveness analysis (CEA)?

A
  • Measures outcomes in natural health units (ex. Lives saved)
  • Determines which intervention achieves a given obj at lowest cost
  • Most common type of analysis
24
Q

In a CEA, how do we know if the new tx cost effective relative to comparator (standard) tx?

A
25
Q

What is the incremental cost effectiveness ratio (ICER) equation?

A

ICER = (Total cost of drug A - total cost of drug B) / (Outcome of Drug A - Outcome of Drug B)

26
Q

What is the cost measurement unit of CEA?

A

Monetary units

27
Q

What is the outcome measurement unit of CEA?

A

Natural (health) related units

28
Q

What are the advantages of CEA?

A
  • Outcomes measured in units that are understandable to many clinicians
  • No need to convert outcomes into dollar amount
29
Q

What are disadvantages of CEA?

A
  • Outcomes must be measured in same units
  • Length of life (survival) is not the same as QOL
30
Q

What is cost utility analysis (CUA)?

A
  • Measures outcomes in terms of quality of outcome produced
  • Examines cost of an intervention and value of outcome (Value = cost + quality)
  • Referred to as “utility units”
31
Q

What is QALY in CUA?

A
  • QALY takes into account both quantity and QOL generated by healthcare interventions
  • Product of life expectancy and measure of QOL years remaining
32
Q

What is cost measurement unit of CUA?

A

Monetary units

33
Q

What is outcome measurement unit of CUA?

A

Quality adjusted life years or other utility measures (pt preferences)

34
Q

What is advantage of CUA?

A

Accounts for both quantity and quality of outcome

35
Q

What are disadvantages of CUA?

A
  • Not a precise measure
  • Viewpoint may bias outcome measures
36
Q

What is role of pharmacist in pharmacoeconomics?

A
  • Evaluating pharmacoeconomics literature
  • Apply results to clinical decision making
  • Assist in design and implementation of research studies

PHRM 849 (4 decks)

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