pharmacoeconomics Flashcards
(34 cards)
what are the 4 different pharmacoeconomic designs
- coost minimization analysis
- cost effectiveness analysis
- cost utility analysis
- cost benefit analysis
what is the combination of cost and health outcome
value
what are 4 reasons for health economic research
- scarcity of healthcare resources
- alternative use of existing resources
- increasing demand for value
- increasing demand for accountability
what is the difference in cost and price
cost = actual value of resources price = perceived reality investment cost expectation; includes profit margins, taxes, and other fees
what represents the actual expenditures which represent a transaction price
price paid (not price charged)
a study from what perspective can demonstrate overall costsand benefits
society
what the beneficial outcomes of using society’s perspective
all the consequences including quality of life
the payer’s perspective doe not include what
patient’s expenses
what is the outcome of using payers’ perspective
efficiency of the healthcare delivery system
what is the outcome of using provider’s perspective
understanding length of stay, morality and morbidity
what is an example of provider’s perspective
hospital formulary decision
what is the beneficial outcome of patient’s perspective
relieve of symptoms, cure, quality of life
what is the most subjective perspective
patients; includes patient preferences
what are total costs
sum of all costs defined by a perspective
what are direct costs
total value of goods, services and other resources
which costs are difficult to measure and value
indirect costs
which costs are difficult to quantify and value
intangible costs
pain and suffering related to a treatment is what type of resource cost
intangible costs
what are the 4 cost aspects in economic evaluation
- Identify items to be included
- measurement of units used
- value
- calculate total costs of options
what is the analysis of the cost of two or more health care alternatives with equivalent outcomes are compared on the basis of cost
cost minimization analysis
what is the analysis that compares the net costs and effects of a health care alternative with costs and effects of other alternatives
cost effectiveness analyses
how are effects measured in cost effectiveness ratios
natural outcome units
what makes up natural outcome units
- cases prevented
- number of lives saved
- surrogate outcomes
what is the cost effectiveness ratio formula
total cost of alternative/ measure of effects
