Pharmacoeconomics Quiz #1
Terms in this set (50)
Identifies and measures the overall costs of a particular disease in a defined population
This analysis provides baseline information for other analyses
This analysis is used to identify and set priorities for policies
T/F COI provides indications of whether or not resources are being utilized effectively
A pharmacoeconomic tool for comparing all of the relevant costs and consequences of two or more therapeutic interventions
Consequences must e shown to be equivalent or assumed to be equivalent
CMA Decision Rule
Choose the least costly alternative
An economic analysis that assesses whether the outcome (benefits) outweighs the inputs (costs) of a program or intervention.
In this analysis, both the units being measured must be expressed in monetary terms.
In a CBA, the benefits are usually measured as ______
This analysis is a tool to identify, examine, and compare the relevant costs and consequences of competing drug regimens and interventions.
CEA: Costs are expressed in _____ terms
CEA: Consequences are measured in ______, such as lives saved and cases cured
CEA: Alternatives must have _____ clear clinical outcome parameter
Incremental cost-effectiveness ratio
What type of analysis is one that has an outcome worth its corresponding cost relative to competing alternatives?
An economic tool in which the intervention consequences are measured in terms of quantity and quality of life (QALY)
T/F CUA is a variation of CEA
A CUA is an economic tool in which the intervention _________ are measured in terms of quantity and quality of life
CUA is measured in terms of ____
Quantity and quality of life (QALY)
QALY stands for _____
quality-adjusted life years
2 ways that CUA's are reported
QALY and DALY
DALY stands for ______
Disability-adjusted life years
What is the primary reason that you would conduct a CUA?
When quality of life is the most important outcome
What is the 2nd reason you would want conduct a CUA?
When the program affects both morbidity and mortality and it is desirable to have a common unit of outcome.
What is the 3rd reason you would want conduct a CUA?
When the program has a wide range of outcomes
What is an example of a CUA?
10 year study to look at anti-diabetic drugs.
Total costs divided by amount of output
Additional cost of producing a given increment of effect (greater than 1)
The extra costs required to produce one additional unit of effect
The value of the best-forgone option or the next best option, not necessarily the amount of money that change hands.
Time over which the pharmacoeconomic alternatives of direct medical costs are considered
Direct non-medical costs
Costs for non-medical services related to the illness or disease
The cost of time is the ____________
Opportunity cost calculation
Cost = total time x wage rate
Loss in productivity due to morbidity and mortality associated with a disease
Condition resulting from the ailments associated with a disease
Lost earnings due to disability
Morbidity cost are especially important for _______
Morbidity cost equation
Morbidity cost = wage rate x lost days
Costs associated with changes in life expectancy (i.e., premature death)
Lost earnings due to death
Mortality costs are associated with losses in years of ____________ life
Costs associated with non-financial outcomes of disease and medical care (such as quality of life), which cannot be properly expressed in monetary terms
Intangible costs are costs associated with __________ outcome of disease and medical care
Intangible costs are measured by ______
willingness to pay
Intangible costs are also called _____
the process of identifying the costs of a disease and/or its associated treatment, and of breaking them down, and relating them to the various aspects of the disease and treatment.
Costing has 3 tasks
1. Identification of costs relevant to study
2. Measurement of resources used (Q): physical quantities
3. Valuation of resources (C=P x Q)
detailed inventory and measurement of resource consumed