Pharmacoeconomics - Intro Flashcards
Quadruple Aim
improving population health
reducing cost of care
enhancing the patient experience
improving provider satisfaction
HEOR - Components
economic outcomes
clinical outcomes
humanistic outcomes
Pharmacoeconomics
description of the cost and consequences of pharmaceuticals & pharmaceutical service and its effect on individuals, healthcare system, and society
includes economic and humanistic assessments
Economic Outcomes
direct, indirect, and intangible costs compared with the consequences of medical treatment alternatives
Clinical Outcomes
medical events that occur as a result of disease or treatment
Humanistic Outcomes
consequences of disease or treatment on patient’s functional status or quality of life, measured along several dimensions
Costs
resources consumed by a program or treatment alternative
must be relevant to the chosen perspective
Direct Medical Costs
costs incurred for medical products and services used for prevention, detection, and treatment of disease
Intangible Costs
costs of pain, grief, and other non-financial outcomes of disease and medical care
Incremental Costs
additional costs incurred to obtain an additional unit of benefit from an alternative strategy
Essence of Pharmacoeconomic Evaluation
balancing costs and consequences
Perspectives in Economic Outcome Assessment
patient
provider
payer
society (may be the best one)
Cost of Illness
estimation of the cost of a disease on a defined population
application: to provide baseline to compare prevention / treatment options
Cost Minimization Analysis
finds the least expensive alternative
application: when the benefits of different treatments are the same (“me-too” drugs)
Cost-Benefit Analysis
measures a benefit in monetary units and computes a net gain
application: to compare programs with different objectives when deciding how to allocate scarce sources
Cost Utility Analysis
measures therapeutic consequences in utility units rather than physical units
application: to compare drug programs that are life-extending with serious AEs or those producing reductions in mortality
result expressed as $ per QALY
Cost-Effectiveness Analysis
compares alternatives with therapeutic effects measured in physical units
applications: drugs / programs that differ in clinical outcomes and use the same unit of benefit
Quality of Life
physical, social, and emotional aspects of a patient’s well-being that are important to the patient
Average Cost Effectiveness Ratio
total cost of a program or treatment alternative, divided by its clinical outcome gained independently of comparators
Incremental Cost Effectiveness Ratio
(cost A $ - cost B $) / (effect A % - effect B %)
Quality-Adjusted Life Year
number of full years at full health that are valued equivalently to the number of years experienced
