Pharmacoeconomics Exam 1 Rated A+
AWP - ANSWER-Average wholesale price = higher than what institutions actually pay
Clinical outcomes - ANSWER-Medical events that occur as a result of treatment or
disease (cure, comfort, survival)
Cost-benefit analysis - ANSWER-Method to compare the costs and benefits of
treatment alternatives or programs, expressed as either a cost-to-benefit ratio or net
cost/benefit
Cost-effectiveness analysis - ANSWER-Identifies and compares costs and outcomes of
interventions that have different therapeutic outcomes (used when outcomes cannot be
easily translated into $)
Cost-minimization analysis - ANSWER-Compares the cost of 2+ treatments that are
believed to have equivalent therapeutic outcome
Cost-of-illness evaluation - ANSWER-Identifying costs of a particular disease or
condition within a healthcare system of population (not considered a
Pharmacoeconomics study because no outcomes)
Cost-to-benefit ratio - ANSWER-How much does each unit of cost gain you in terms of
benefits
Cost-utility analysis - ANSWER-Used to compare treatment alternatives where costs
are monetary and outcome is related to the utility of the intervention (usually QALYs)
This considers the patient perspective!
Decision tree analysis - ANSWER-Technique to structure the logical and chronological
order of health economic evaluation
Direct costs - ANSWER-All costs due to resource use that are completely attributable to
the use of a healthcare intervention or the illness itself
Discounting - ANSWER-Done to determine the present value of all future costs and
incorporate society's time preference for money
Economic Outcomes - ANSWER-Cost or value of delivering healthcare (expense,
savings, cost avoidance) in either medical or nonmedical categories
Health economics - ANSWER-A branch of economics concerned with evaluating the
efficiency, effectiveness, value, and behavior in the production & consumption of health
and healthcare
"Cost/benefit of all treatment activities"
AWP - ANSWER-Average wholesale price = higher than what institutions actually pay
Clinical outcomes - ANSWER-Medical events that occur as a result of treatment or
disease (cure, comfort, survival)
Cost-benefit analysis - ANSWER-Method to compare the costs and benefits of
treatment alternatives or programs, expressed as either a cost-to-benefit ratio or net
cost/benefit
Cost-effectiveness analysis - ANSWER-Identifies and compares costs and outcomes of
interventions that have different therapeutic outcomes (used when outcomes cannot be
easily translated into $)
Cost-minimization analysis - ANSWER-Compares the cost of 2+ treatments that are
believed to have equivalent therapeutic outcome
Cost-of-illness evaluation - ANSWER-Identifying costs of a particular disease or
condition within a healthcare system of population (not considered a
Pharmacoeconomics study because no outcomes)
Cost-to-benefit ratio - ANSWER-How much does each unit of cost gain you in terms of
benefits
Cost-utility analysis - ANSWER-Used to compare treatment alternatives where costs
are monetary and outcome is related to the utility of the intervention (usually QALYs)
This considers the patient perspective!
Decision tree analysis - ANSWER-Technique to structure the logical and chronological
order of health economic evaluation
Direct costs - ANSWER-All costs due to resource use that are completely attributable to
the use of a healthcare intervention or the illness itself
Discounting - ANSWER-Done to determine the present value of all future costs and
incorporate society's time preference for money
Economic Outcomes - ANSWER-Cost or value of delivering healthcare (expense,
savings, cost avoidance) in either medical or nonmedical categories
Health economics - ANSWER-A branch of economics concerned with evaluating the
efficiency, effectiveness, value, and behavior in the production & consumption of health
and healthcare
"Cost/benefit of all treatment activities"
