Pharmacoeconomics Flashcards
1
Q
Health Economics
A
- One of the many fields of pharmacoeconomics
- Use of healthcare resources
- Health insurance
- Optimizing utility values
2
Q
Clinical/Humanistic Outcomes
A
- One of the many fields of pharmacoeconomics
- Consequences/results from interventions/treatment
- Patient’s health-related quality of life
- Impact on ability to be productive (paid/unpaid)
- Health status (mental, physical)
3
Q
Pharmacy Management
A
- One of the many fields of pharmacoeconomics
- Pharmaceuticals
- Pharmaceutical Services
4
Q
Why is Economic Evaluation popular?
A
- Result of increased interest in comparative effectiveness research
- Tremendous growth in the cost of healthcare
5
Q
Factors Increasing Healthcare Costs
A
- Hospital costs
- Provider costs
- Medical technology
- Aging population (increasing in size)
- Skyrocketing drug spending**
- Negative impacts on health
6
Q
Negative Impacts on Health Examples
A
- Non-adherence to medical advice and medication intake
- Alcohol/substance abuse
- Smoking
- Obesity
- Unhealthy lifestyles
- Increasing number of chronic diseases
7
Q
Potential Market Trends
A
- Medication costs expected to double by 2027
- ~20% of population >65 y.o.
- Medicare increased spending from 15% to 18%
- Specialty medicines will exceed 50% of pharmaceutical spending
8
Q
Challenges Managing Drug Spending
A
- Specialty Pharmacy
- Medical Pharmacy
- Biosimilars
- Increased costs of generics
- Brand price increasing
- Pipeline comprised of primarily specialty medications
9
Q
Pharmacoeconomics
A
- Is the drug worth its costs
- Evaluating clinical, economic, and humanistic aspects of pharmaceutical products, services, and programs
- Gives optimal outcomes and allocation of health care resources
- Also determines which alternatives provide the best outcomes in comparison
- Good for population based decision over individual
10
Q
Pharmacoeco. Evalulation
A
- Analytical tool used to assist in decision making in healthcare
- Includes cost analysis and clinical or outcome study
11
Q
Cost-Effectiveness
A
- “Tech that is more expensive and “better” than alternative
- Additional benefit is worth the additional cost
- “Economically attractive”
12
Q
Cost-Saving
A
-“Tech” that costs less than alternative and outcomes are not a concern (assumed equivalent)
13
Q
Dominant
A
- “Tech” that is less costly and has “better” outcomes than alternative
- One dominates the other
14
Q
CMA
A
- Cost Measure: monetary units
- Outcome Measure: none, assumed to be equivalent
- Presentation: lower costs
- Uses: cost efficiency
15
Q
CEA
A
- Cost Measure: monetary units
- Outcome Measure: natural units
- Presentation: Incremental cost-effectiveness ratio (ICER)
- Uses: Least costly way to achieve outcome
