Pharmacoeconomics Flashcards
what disciple focuses on the costs and benefits of drug therapy?
pharmacoeconomics
what is the main perspective of pharmacoeconomics?
efficiency
what is concerned with fair distribution of resources?
equity
what is the importance of economic model?
provides useful insights into how healthcare can be organized & financed
what do pharmacoecnomists do?
delivery of pharmacological services & improved management at a # of levels
what are the 3 important principles in economic analysis?
opportunity cost
perspective
marginal analysis
what principle of economics stresses the important of value?
opportunity cost
what princple of economics thinks carefull abt viewpoints of the analysis, what will dictate costs and benefits?
perspective (px, healthy authority, DOH, society)
what is the most important thing decision makers should do?
must be clear on the viewpoint that is taken
what is the most important thing decision makers should do?
must be clear on the viewpoint that is taken
what is the rel betw resources invested into a pharmacological intervention & benefit incurred?
not linear (rarely is so)
what does marginal analysis indicate?
q
considers how increments in benefit change with increment in resource allocation
what are the diff types pharmacoeconomic evaluation?
cost-minimization analysis
cost-effectiveness analysis
cost-utility analysis
cost-benefit analysis
cost-consequence analysis
what type of pharmacoecnomic evaluation deals with minimizing costs, consequences of 2 or mroe pharmacological interventions being compared are equivalent?
cost-minimization analysis
what type of pharmacoeconomic evaluation is the most common type & has a common health outcome?
cost-effective analysis
what type of pharmacoeconomic evaluation assesses costs and benefits of intervention where there is no single outcome of interest & is useful comparing diff programs across diff tx areas?
cost-utility analysis
what type of pharmacoeconomic evaluation is used to assess cost-effectiveness & cost utility?
cost benefit analysis
what is referred to when benefits are measured base on impact on length & quality of life to produce and overall index of health gain?
quality adjsuted life year
What type of pharmacoeconomic evaluation assesses how much extra benefits is obtaiend for the extra cost?
Cost-benefit analysis
What are the signnificance of Benefit/Cost Ratio?
B:C Ratio >1 = benefit exceeds cost
B:C ratio = 1 = benefits equal cost
B:C ratio <1 = cost exceeds benefit
What is a form of health economic evaluation study where all direct & indirect costs & catalog of diff outcomes of all alternatives are listed separately?
Cost-Consequence analysis
Why is it that clinical trials do not represent the “real world”?
- Carefully selected subjects
- Adherence/compliance is not an issue
- Do not really establish whether the drug is effective
What is the main factor in Efficiency?
Cost
What is the POV of clinical trials?
Patient-centered outcomes
What is the most important thing to take note of in conducting PE studies?
Country
How is pharmacoeconomics commonly used?
Formulary status
Disease management strategies
Allocation of resources
Clinical decision
What has a list of drugs avail withi nthe organization?
Formulary status
What grp determined formular status?
Pharmacy & Therapeutics COmmittee
What are the key elements of pharmacoeconomic anlaysis?
- types of outcomes are measured
- Types of costs that are measrued
- perspective from which the analysis is conducted
- discounting costs/benefits
- sensitivity
What are direct & indirect costs?
Direct cost = resources needed to deliver health care services
Indirect costs = do not directly affect the provision of medical care but are costs to society
What does the ECHO model stand for?
Economic
Clinical
Humanistic Outcomes
