PE analysis

Question 1

What are direct medical costs?

Answer 1

medications, hospitalizations, salary of medical personnel

Question 2

What are direct non-medical costs?

Answer 2

food, travel, lodging

Question 3

What are indirect costs?

Answer 3

loss of productivity (school/work)

Question 4

What are intangible costs?

Answer 4

pain, anxiety, fatigue

Question 5

What is converting future costs to present values?

Answer 5

discounting

Question 6

What is converting historical costs to present values?

Answer 6

standardization

Question 7

What costs are being considered in a societal perspective?

Answer 7

direct medical, direct non-medical, indirect, and intangible

Question 8

What costs are being considered in an insurance/payer perspective?

Answer 8

direct medical

Question 9

What costs are being considered in a health system/ provider perspective?

Answer 9

direct medical, indirect

Question 10

What costs are being considered in a patient perspective?

Answer 10

direct medical, direct non-medical, indirect, and intangible

Question 11

In which type of pharmacoeconomic analysis are outcomes formatted as cost/outcome in natural units?

Answer 11

cost-effectiveness

Question 12

What type of PE analysis cannot be compared across outcomes?

Answer 12

cost effectiveness

Question 13

What types of PE analysis can be compared across outcomes?

Answer 13

cost-benefit and cost-utility

Question 14

How can indirect benefits be translated to monetary units by calculating a person’s wage by days of work missed?

Answer 14

human capital approach

Question 15

How can indirect and intangible benefits be translated into monetary units?

Answer 15

willingness to pay approach

Question 16

What is a measure of the relative preference for one option over the other; used to calculate QALY?

Answer 16

utility

Question 17

What are direct methods to generate utilities?

Answer 17

rating scales, standard gamble, time tradeoffs

Question 18

What are indirect methods to generate utilities?

Answer 18

preference-based classification systems

Question 19

What is it called when individuals tend to overestimate their reaction to negative events?

Answer 19

projection bias

Question 20

What is an example of a standard gamble?

Answer 20

choose between risk with treatment vs. living with a disease

Question 21

What is an example of time tradeoff?

Answer 21

choose between living with a disease for a certain amount of time vs. living healthy for a shorter amount of time

Question 22

Which type of pharmacoeconomic analysis are outcomes formatted as cost/quality of life year gained?

Answer 22

cost utility

Question 23

In which type of pharmacoeconomic analysis are outcomes formatted as a ratio of costs?

Answer 23

cost benefit

Question 24

What type of analysis is conducted to determine how your results will change over a range of plausible values?

Answer 24

sensitivity analysis

Question 25

In which scenario would the newer alternative dominate the existing treatment?

Answer 25

Lower cost/ higher effectiveness
Lower cost/ similar effectiveness
Same cost/ higher effectivness

Question 26

What type of analysis can incorporate multiple outcomes into the calculation for cost-effectiveness?

Answer 26

decision analysis

Question 27

In which scenario would you calculate the Incremental Cost Effectiveness Ratio (ICER)? When the newer alternative is:

Answer 27

Lower cost/Lower effectiveness
Higher cost/ higher effectiveness

Question 28

Which type of analysis identifies the point where the expected value of two alternatives would be equal?

Answer 28

threshold analysis

Question 29

In which type of pharmacoeconomic analysis are outcomes assumed equivalent?

Answer 29

cost minimization

Question 30

If the result of a pharmacoeconomic analysis changes upon sensitivity analysis, the results are ______ to the cost factor

Answer 30

sensitive

Question 31

What is a way to visualize the results of a sensitivity analysis?

Answer 31

tornado diagram