Resource Allocation and Health Economics Flashcards
What are the two types of rationing?
Explicit vs. implicit
What is explicit rationing?
There is a system with defined rules as to who gets what
What is implicit rationing?
There are no clearly defined reasons
What are some problems with implicit rationing?
Open to abuse
Discrimination
Doctors don’t like doing it
What are the pros/cons of explicit rationing?
GOOD: transparent, evidence based, equitable
BAD: complex, patient/professional hostility, reduction of clinical freedom
What is scarcity?
Healthcare needs are greater than resources
What is efficiency?
Maximising the impact of limited resources
What is equity?
Distributing resources fairly
What is effectiveness?
To what degree an intervention produces the desired outcome
What is utility?
The value an individual places on a health state
What is an opportunity cost?
Once a resource has been used in one way it can’t be used in another, creating an opportunity cost based in this loss
What is cost minimisation analysis?
If two interventions have equal benefit, which is cheaper
What is cost effectiveness analysis?
Is the extra benefit of an intervention worth the extra cost?
What is cost/benefit analysis?
Comparing inputs and outputs of an intervention in monetary terms
What is cost utility analysis?
Comparison of cost per QUALY gained