pharmacoeconomics Flashcards
what are the 4 different pharmacoeconomic designs
- coost minimization analysis
- cost effectiveness analysis
- cost utility analysis
- cost benefit analysis
what is the combination of cost and health outcome
value
what are 4 reasons for health economic research
- scarcity of healthcare resources
- alternative use of existing resources
- increasing demand for value
- increasing demand for accountability
what is the difference in cost and price
cost = actual value of resources price = perceived reality investment cost expectation; includes profit margins, taxes, and other fees
what represents the actual expenditures which represent a transaction price
price paid (not price charged)
a study from what perspective can demonstrate overall costsand benefits
society
what the beneficial outcomes of using society’s perspective
all the consequences including quality of life
the payer’s perspective doe not include what
patient’s expenses
what is the outcome of using payers’ perspective
efficiency of the healthcare delivery system
what is the outcome of using provider’s perspective
understanding length of stay, morality and morbidity
what is an example of provider’s perspective
hospital formulary decision
what is the beneficial outcome of patient’s perspective
relieve of symptoms, cure, quality of life
what is the most subjective perspective
patients; includes patient preferences
what are total costs
sum of all costs defined by a perspective
what are direct costs
total value of goods, services and other resources
which costs are difficult to measure and value
indirect costs
which costs are difficult to quantify and value
intangible costs
pain and suffering related to a treatment is what type of resource cost
intangible costs
what are the 4 cost aspects in economic evaluation
- Identify items to be included
- measurement of units used
- value
- calculate total costs of options
what is the analysis of the cost of two or more health care alternatives with equivalent outcomes are compared on the basis of cost
cost minimization analysis
what is the analysis that compares the net costs and effects of a health care alternative with costs and effects of other alternatives
cost effectiveness analyses
how are effects measured in cost effectiveness ratios
natural outcome units
what makes up natural outcome units
- cases prevented
- number of lives saved
- surrogate outcomes
what is the cost effectiveness ratio formula
total cost of alternative/ measure of effects
explain the marginal CE ratio formula
(TCa - TCb)/(Ea-Eb) = MC/ME
what must be the same for both alternatives in a cost effectiveness analysis
measure of effect
can’t compare total cholesterol and migraine attacks
what is a specialized type of cost effectiveness analysis where effects are measured in health outcomes
cost utility analysis
what is a health utility measure combining quality and quantity of life
guality adjusted life years
what compares the net costs and net benefits of a health care alternative
cost benefit analysis
why are cost benefit analyses not frequently used in health care
difficult to assign monetary values to human life or impairments
what are the outcome units of cost utility analysis
health status
what are the outcome units of cost benefit analysis
monetary
what is the evaluation of costs and effects of health care alternatives in which costs and effects are enumerated but not aggregated
cost consequence analysis
what is also known as cost analysis; a study that enumerates all the costs but not the outcomes of health care alternatives
cost identification study
