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Pharmacoeconomics
P1 Pharmacoeconomics
| Question | Answer |
|---|---|
| Define Cost-benefit analysis (CBA) | A method used to evaluate two or more alternatives where the input and outcomes are measured in dollars |
| Define Cost-utility analysis (CUA) | A method used to evaluate two or more alternatives where the input is measured in dollars and the outcome is measured as life-years saved or patient-preference weighted outcome. |
| Define Cost-minimization analysis (CMA) | A method used to evaluate two or more alternatives where the inputs are measured in dollars and the consequences or outcomes of the alternatives are identical. |
| Define Cost-effectiveness analysis (CEA) | A method used to evaluate two or more alternatives where the inputs are measured in dollars and the outcome is measured in natural units of effectiveness |
| What is sensitivity analysis? | An analysis that considers how dependent the outcomes are to the value of the inputs |
| CBA is what ratio? | Benefits : Costs |
| CBA = 1 means | Benefits = Costs |
| CBA > 1 means | Benefits are greater than costs |
| How does cost minimization differ from cost analysis? | Cost analysis only considers input costs; cost-minimization considers which costs less to accomplish the SAME outcome. |
| Which type of analysis answers the question, "How many dollars of outcomes (benefits) is received for each dollar of inputs?" | Cost-Benefit Analysis (CBA) |
| Which type of analysis seeks to answer the question "Which of the various costs impact my particular situation?" | Cost-consequence analysis |
| Which type of analysis seeks to answer the question "Which alternative is least costly to achieve the same outcome?" | Cost-Minimization Analysis |
| Which type of analysis answers the question, "What is the ratio of $ value of benefits per dollar of program?" | Cost-Benefit Analysis (CBA) |
| Which type of analysis answers the question, "Which alternative provides the greatest benefits for $1 of costs?" | Cost-Benefit Analysis (CBA) |
| Which type of analysis answers the question, "Which of the alternative programs (drugs) will provide the greatest outcome for the least cost?" | Cost-Effectiveness Analysis (CEA) |
| Which type of analysis answers the question, "Considering the preferences of the patient, which of the alternatives provides the greatest QALY per dollars of cost?" | Cost-Utility Analysis (CUA) |
| What are the requirements to perform a Cost-minimization Analysis? | Equally effective outcomes |
| What are intangible costs? | Costs associated with "pain and suffering" resulting from the treatment itself |
| Which type of analysis seeks to answer the question "Which alternative intervention provides the greatest Quality Adjusted Life Years (QALY)?" | Cost-Utility Analysis (CUA) |
| What is the first step in pharmacoeconomic analysis? | Define the problem and state the objective to be accomplished |
| What kind of cost is the pharmacist's salary and benefits? | Direct |
| The costs of Cost-minimization analysis (CMA) are measured in __________. | Dollars |
| The costs of Cost-benefit analysis (CBA) are measured in __________. | Dollars |
| The costs of Cost-effectiveness analysis (CEA) are measured in __________. | Dollars |
| The costs of Cost-b are utility analysis (CUA) are measured in __________. | Dollars |
| The costs of Cost-consequence analysis (CCA) are measured in __________. | Dollars |
| The consequences of Cost-effectiveness analysis (CEA) are measured in __________. | Dollars |
| The consequences of Cost-consequence analysis (CCA) are measured in __________. | Dollars or QALYs |
| Easy or hard to measure: Death | Easy |
| Easy or hard to measure: Relief or reduction in symptoms | Easy, the patient can say if they feel better |
| Easy or hard to measure: A cure | Easy, you can see if the treatment has worked or not |
| Easy or hard to measure: No effect | Either / or, but may take time |
| QALYs = what? | Extra years of Life X QOL (Quality of Life) adjustment |
| True or False: If net present value analysis rate increases from 6% to 8% and all other variables are held the same, the dollar amount of net present value increases. | False |
| Easy or hard to measure: Improved quality of life | Hard, based on perspective |
| Easy or hard to measure: Extended life | Hard, it is only an estimate |
| Easy or hard to measure: Increased morbidity | Hard, takes time to analyze |
| Easy or hard to measure: Decreased incidence of morbidity | Hard, takes time to make that assessment |
| What is the third step in pharmacoeconomic analysis? | Identify and measure the outcomes of each of all alternatives. |
| What is the fifth step in pharmacoeconomic analysis? | Identify cost elements |
| What is the second step in pharmacoeconomic analysis? | Identify the perspective and alternative interventions. |
| What is the fourth step in pharmacoeconomic analysis? | Identify, measure and value the costs of all alternatives. |
| What kind of cost is the monthly rent for the pharmacy? | Indirect |
| What kind of cost is loss of work due to drug side effects? | Intangible |
| CBA < 1 means | Less benefits than costs |
| What is the sixth step in pharmacoeconomic analysis? | Measure and value costs |
| The consequences of Cost-minimization analysis (CMA) are measured in __________. | Natural units |
| The consequences of Cost-benefit analysis (CBA) are measured in __________. | Natural units |
| The consequences of Cost-b are utility analysis (CUA) are measured in __________. | Quality-adjusted Life Years (QALYs) |
| What are direct costs? | Resources that are directly related to the product or service |
| Define Pharmacoeconomics | The evaluation of the inputs and outcomes associated with pharmaceuticals or pharmacy services. |
| What is opportunity cost? | The value of a resource in its next best use. |
| What are indirect costs? | Those costs that are "indirectly" associate with the product or service |
| What is the purpose of discounting? | To determine the present value of all costs and to incorporate society's time preference for money. |
| True or False: Cost minimization and cost effectiveness analysis are reported in dollar output measures. | True |
| True or False: If net present value analysis rate increases from 6% to 8% and all other variables are held the same, the dollar amount of net present value decreases. | True |
| True or False: Cost effectiveness considers different outcomes between the alternatives but most common minimization requires the same outcomes. | True |
| True or False: Cost minimization may be used only when the alternatives have the same outcome. | True |
| What question does cost-effectiveness analysis seek to answer? | Which of the alternative interventions can achieve the best outcome at the lowest input cost. |
| Being able to work at your career or financial stability would be an example of what in regards to quality of life? | Economic and/or Vocational Status and Related Factors |
| What are the requirements to perform a Cost-benefits Analysis? | Benefits must be valued in $'s |
| What are the requirements to perform a Cost-effectiveness Analysis? | Outcomes in extra years of life or success rates |
| What are the requirements to perform a Cost-utility Analysis? | Outcomes in extra years of life or success rates, plus preferences index of quality |
| How are outcomes measured in Cost-minimization Analysis? | Natural units (often dollars) |
| How are outcomes measured in Cost-benefits Analysis? | Only dollars |
| How are outcomes measured in Cost-effectiveness Analysis? | $'s per extra year of life or successful case |
| How are outcomes measured in Cost-utility Analysis? | $'s per QALY |
| Which analysis would be used to choose the best drug among three that have generally the same therapeutic outcome with varying side effect profiles? | Cost-utility analysis (CUA) |
| Quality of Life (QOL) measures ___________ in clinical trials of medications and medical procedures. | Efficacy |
| What are the four domains of the quality of life? | 1. Physical status and functional ability; 2. Psychological status and well-being; 3. Social interaction; 4. Economic and/or vocational status and related factors |
| Walking unaided or personal hygiene would be an example of what in regards to quality of life? | Physical status and functional ability |
| Feeling anxious, restless, fearful, or optimistic, would be an example of what in regards to quality of life? | Psychological status and well-being |
| Being able to conduct a conversation or recognize friends would be an example of what in regards to quality of life? | Social Interaction |
Created by:
con8iv
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