PCON slides Flashcards
What is pharmacoeconomics and why is it important
Describes the cost and consequences of pharmaceuticals and related services
Process of identifying, measuring, and comparing the costs and benefits of programs, services, or therapies
Its important because the US spends the most amount of money on healthcare yet has the worst outcomes compared to other countries
What are the 4 different types of costs associated with healthcare landscaping
Direct medical cost
Direct non medical cost
Indirect cost
Intangible cost
how does pharmacoeconomics apply to pharmacy practice and shaping pharmacotherapy
Pharmacists play a role in evaluating pharmacoeconomic literature, apply results to clinical decision making, assist in the design and implementation of research studies
What are the 10 steps for reviewing published pharmacoeconomic studies
- Evaluating the question
- determine the perspective
- alternatives - treatments should be comparable
- study design
- type of analysis
- all important and relevant costs and outcomes included
- any important costs of consequences not included
- was discounting utilized appropriately?
- are all assumptions stated?
- summary/ conclusions - should be unbiased and reasonable
What is direct medical cost?
This is the medical costs for providing treatment
ex- cost of medication, physician vistits, hospitalizations
What is direct non-medical cost?
Costs to the patients/families that are associated with treatment but not in a medical sense
ex- transportation, food, babysitters (watch your kids while you are receiving treatment)
What is indirect cost?
Costs that result from loss of productivity befause of illness or death
-DO NOT INVOLVE A TRANSFER OF MONEY
ex- missed work or school days
What is intangible cost?
Costs of pain, suffering, anxiety, or fatigue due to an illness or treatment of an illness
difficult to measure and assign value
What are the four types of pharmacoeconomic analysis
Cost minimization analysis
Cost benefit analysis
cost effectiveness analysis
cost utility analysis
what is Cost minimization analysis
Used to compare costs of interventions with equivalent clinical outcomes
ex- generic vs Brand name drug
Drug A vs Drug B assuming equal efficacy
what is Cost benefit analysis
accounts for all costs and all benefits
Determines which interventions provides the best monetary benefit
what is cost effectiveness analysis
Comparing different interventions that have a common health outcome
outcomes could be reduction in blood pressure, cancer cases avoided, kilos lost, and years of life gained
what is cost utility analysis
comparing different interventions with different health outcomes but having a common outcome measure to compare usually known as quality adjusted life year (QALY)
QALY = number of years gained x quality of life
