Quiz 2

Question 1

Economics

Answer 1

Study of how individuals and societies allocate limited resources in attempts to satisfy unlimited wants

Question 2

Health Economics

Answer 2

Study of how resources are allocated to and within health sector

Question 3

Relevance of Health Economics (4)

Answer 3

-Size of contribution of health sector to economy
-Share of personal income spend on health care
-Number of jobs in health sector
-Capital investment

Question 4

Size of contribution of health sector to economy

Answer 4

Share of nation’s GDP is large

Question 5

Characteristics of a Perfect Market (4)

Answer 5

-Many buyers and sellers
-Freedom of entry and exit
-Standardized products
-Full and free information

Question 6

Many buyers and sellers

Answer 6

Firms are price takers

Question 7

Freedom of entry and exit

Answer 7

To stimulate competition

Question 8

Standardized products

Answer 8

Products are similar and interchangeable
Ex. Gasoline

Question 9

Full and free information

Answer 9

Customers can compare products

Question 10

Imperfect Market Characteristics

Answer 10

Will be labeled by IM

Question 11

Less number of buyers and sellers (IM)

Answer 11

Geographic and specialty area
-Shortage of primary care physicians
-Consolidation of organization

Question 12

High barriers to entry and exit from markets (IM)

Answer 12

Career in health care - Education & literature
Pharmaceutical companies - R&D
High capital investments in hospitals

Question 13

Variation in products, services, & quality (IM)

Answer 13

Health care is customized for individual patients

Question 14

Unavailability of full and free information (IM)

Answer 14

Patients do not have complete information

Question 15

Inelastic Demand (IM)

Answer 15

Small increase in price does not reduce demand
-Patients are not price sensitive

Question 16

Unpredictability of Illness (IM)

Answer 16

Cannot predict who will need care and when

Question 17

Prominence of Insurance (IM)

Answer 17

Consumers not paying directly for full healthcare costs
-Influences both provider and consumer behavior

Question 18

Supplier Induced Demand (IM)

Answer 18

Increased utilization of services

Question 19

Health care as a “right” (IM)

Answer 19

Feeling concern for poor health of another individual

Question 20

Patient

Answer 20

Individual under care of a physician
Passive vs. Active

Question 21

Medical Model

Answer 21

Absence of illness or disease

Question 22

WHO (World Health Organization)

Answer 22

Health is a state of complete physical, mental, and social wellbeing

Question 23

Holistic Approach

Answer 23

Added spiritual dimension

Question 24

Illness

Answer 24

Person’s own perceptions and evaluations of how feeling

Question 25

Disease

Answer 25

Medical professional's evaluation Disease and illness not the same Can have one or the other or both

Question 26

Drugs

Answer 26

Substances that produce a change in cellular or physiological functioning of humans

Question 27

Remedy

Answer 27

When healing occurs

Question 28

Poison

Answer 28

When there is adverse/unwanted effects

Question 29

Charm

Answer 29

Magical properties

Question 30

Physicians & Pharmaceutical Companies

Answer 30

Biochemical activity of drug

Question 31

Consumers

Answer 31

Beliefs, experiences, social context

Question 32

Activity Passivity Model

Answer 32

Active practitioner and passive patient Parents with infant child Emergency situations

Question 33

Guidance - Cooperation Model

Answer 33

Patient is actively involved in relationship Parents and adolescent child Acute care situations

Question 34

Mutual Participation Model

Answer 34

Patient and practitioner equally interdependent Two adults Chronic condition situations

Question 35

Patient-Centered Model of Care

Answer 35

Focus shifts from just body to person as a whole View illness through patient's eyes

Question 36

Health Belief Model Modifying Factors

Answer 36

Age, gender, location, education, ethnicity, etc.

Question 37

Health Belief Model Individual Beliefs

Answer 37

Perceived susceptibility, severity of disease, benefits of preventative action, self-efficacy

Question 38

Health Belief Model Actions

Answer 38

Individual behaviors Cues to action

Question 39

Pharmacy Workflow Step One

Answer 39

Drop off prescription

Question 40

Pharmacy Workflow Step Two

Answer 40

Input prescription into patient profile Most mistakes made here

Question 41

Pharmacy Workflow Step Three

Answer 41

Filling prescription Counted/poured/labeled

Question 42

Pharmacy Workflow Step Four

Answer 42

Verifying prescription Fixing mistakes

Question 43

Pharmacy Workflow Step Five

Answer 43

Pickup prescriptions Patient pays for it

Question 44

Pharmacy Workflow Step Six

Answer 44

Consultation Questions about medications

Question 45

Pharmacy Metrics

Answer 45

Measure overall health and success of business

Question 46

Prescriptions per day

Answer 46

Dividing number of prescriptions filled in month by # of business days -Busiest days

Question 47

Average Daily Rx Revenue

Answer 47

Dividing total revenue in month by business days -Should be increasing

Question 48

Refills vs. New Prescriptions

Answer 48

Refills - repeat customers New- growing customer base

Question 49

Average price and margin

Answer 49

Dividing total Rx revenue by # of prescriptions in day or month -Higher price or margin is better

Question 50

Cash Prescription

Answer 50

Not billed to insurance company Payed for in full More valuable customers

Question 51

Brand Vs. Generic

Answer 51

Owners have more control over what they pay for generics and discounts

Question 52

Top Performing Prescribers

Answer 52

How many prescriptions filled from each doctor Growing good relationships