Pharmacoeconomics Flashcards
Finals
What is the definition of Pharmacoeconomics?
Pharmacoeconomics is the description and analysis of the costs of drug therapy to health care systems and society.
What are the main focuses of Pharmacoeconomics?
It identifies, measures, and compares the costs and consequences of pharmaceutical products and services.
What are the types of costs in Pharmacoeconomics?
- Direct costs
- Indirect costs
- Intangible costs
- Opportunity costs
What are the two categories of direct costs?
- Direct medical costs
- Direct non-medical costs
What do direct medical costs include?
- Costs of medical service (e.g., drugs, medical supplies)
- Hospitalizations
- Physician visits
What are indirect costs in Pharmacoeconomics?
Income lost due to loss of productivity because of illness or death.
What are intangible costs?
Costs of pain, suffering, anxiety, or fatigue that occur because of an illness or its treatment.
What are opportunity costs?
Economic benefits given up while choosing one therapeutic alternative over another.
What types of outcomes are considered in Pharmacoeconomics?
- Economic outcomes
- Clinical outcomes
- Humanistic outcomes
What is the patient perspective in Pharmacoeconomic evaluation?
All relevant costs and consequences experienced by the patient, including out-of-pocket costs.
What does the health care payer perspective include?
Costs incurred by specific health care payer(s), including treatment and disease management costs.
What costs are considered from the health care provider perspective?
Direct costs only.
What is the societal perspective in Pharmacoeconomics?
Includes all healthcare-related costs, including patient and caregiver costs.
What year was the term ‘Pharmacoeconomics’ first introduced?
1984
What is Cost-Minimization Analysis (CMA)?
A study where outcomes are assumed to be equivalent, comparing only the costs of the intervention.
What is Cost-Effectiveness Analysis (CEA)?
Measures outcomes in natural units like mmHg or years of life saved.
What is the main clinical unit of measure in Cost-Utility Analysis (CUA)?
Years of life gained adjusted by utility weights.
What does Cost-Benefit Analysis (CBA) compare?
The benefits realized from a program or treatment alternative with the costs of providing it.
What are the applications of Pharmacoeconomics?
- Supporting formulary decisions
- Pricing of drugs
- Inclusion in medical reimbursement schemes
What are some barriers to Pharmacoeconomics in practice?
- Absence of a national governing body
- Lack of funding for evaluations
- Inadequate pharmacoeconomic data
What is the role of Pharmacoeconomics in drug development?
Provides information about costs and outcomes of drugs in real-life settings.
Fill in the blank: Pharmacoeconomics evaluates the behavior of individuals, firms, and markets relevant to the use of pharmaceutical products, focusing on costs and _______.
[outcomes]
