Pharmacoeconomics Exam 2 Graded A+
Advantage of threshold analysis - ANSWER-Can indicate whether anything alters the
conclusion about a particular parameter within an "acceptable" range
Advantages of decision analysis - ANSWER-Helps analyze a decision to make the most
informed decision possible, allows for consideration of many possible outcomes, helps
weigh the likely consequences of one decision against another
Advantages of human capital method - ANSWER-Straightforward and easy
Advantages of willingness to pay method - ANSWER-Easy to use and presents
respondents with a wide range of values
Can value intangible benefits
Grounded in welfare economic theory
Advantages to CBAs - ANSWER-Can compare different outcomes as long as outcome
measure is in dollars
Can help determine which healthcare programs or services will be funded
Average Cost Effectiveness Ratio - ANSWER-Ratio of resources used per unit of
clinical benefit
Benefits are... - ANSWER-Cost savings or costs avoided
Construct validity - ANSWER-The degree to which a test or instrument measures what it
claims to be measuring
Related to generalizing
Content validity - ANSWER-Compares measure against a standard
Criterion related validity - ANSWER-Predictive
Concurrent
Convergent
Discriminant
Define health - ANSWER-A state of complete physical, mental, and social well-being
and not merely the absence of disease or infirmity
Define health related quality of life - ANSWER-The functional effect of an illness and its
consequent therapy upin a patient, as perceived by the patient
Disadvantages of a threshold analysis - ANSWER-More than one thing varies at a time
No sense of likelihood of being at different places in the range
, Disadvantages of CBAs - ANSWER-Not easy to place monetary values on medical
outcomes
Controversy exists regarding specific methods used to place a dollar value on an
outcome or benefit
Disadvantages of decision analysis - ANSWER-Outcomes may be based primarily on
expectations, impossible to plan for all contingencies, unexpected events may change
decisions and payoffs, less accurate when more branches
Disadvantages of human capital method - ANSWER-Biases against specific groups and
assumptions about economic productivity
Disadvantages of willingness to pay method - ANSWER-Starting point, choice ranges,
wanting to please the interviewer can cause bias
Difficult for people to assign a WTP value to an intervention they do not typically
purchase
Domains of health status - ANSWER-Physical functioning
Psychological or mental functioning
Social or role functioning
General health perceptions
Effectiveness of CEA - ANSWER-Evaluates whether a healthcare good/service works in
a real world environment
Efficacy of CEA - ANSWER-Evaluates whether a healthcare good/service works in a
controlled environment
Examples of developing descriptions - ANSWER-Amount of pain/discomfort
Any restriction on activities
Time for treatment
External validity - ANSWER-The degree to which the conclusions in your study would
hold for other persons in other places and at other times
Four steps to calculate QALY - ANSWER-1. Develop a description
2. Choose a method
3. Choose subjects
3. Multiply utilities by length of life
Fundamentals of CEA - ANSWER-Units need to be the same between comparators
Multiple outcomes might be relevant when comparing two treatments
Can combine multiple outcomes to form a composite outcome
General health status measures - ANSWER-SF-36
SF-12
Advantage of threshold analysis - ANSWER-Can indicate whether anything alters the
conclusion about a particular parameter within an "acceptable" range
Advantages of decision analysis - ANSWER-Helps analyze a decision to make the most
informed decision possible, allows for consideration of many possible outcomes, helps
weigh the likely consequences of one decision against another
Advantages of human capital method - ANSWER-Straightforward and easy
Advantages of willingness to pay method - ANSWER-Easy to use and presents
respondents with a wide range of values
Can value intangible benefits
Grounded in welfare economic theory
Advantages to CBAs - ANSWER-Can compare different outcomes as long as outcome
measure is in dollars
Can help determine which healthcare programs or services will be funded
Average Cost Effectiveness Ratio - ANSWER-Ratio of resources used per unit of
clinical benefit
Benefits are... - ANSWER-Cost savings or costs avoided
Construct validity - ANSWER-The degree to which a test or instrument measures what it
claims to be measuring
Related to generalizing
Content validity - ANSWER-Compares measure against a standard
Criterion related validity - ANSWER-Predictive
Concurrent
Convergent
Discriminant
Define health - ANSWER-A state of complete physical, mental, and social well-being
and not merely the absence of disease or infirmity
Define health related quality of life - ANSWER-The functional effect of an illness and its
consequent therapy upin a patient, as perceived by the patient
Disadvantages of a threshold analysis - ANSWER-More than one thing varies at a time
No sense of likelihood of being at different places in the range
, Disadvantages of CBAs - ANSWER-Not easy to place monetary values on medical
outcomes
Controversy exists regarding specific methods used to place a dollar value on an
outcome or benefit
Disadvantages of decision analysis - ANSWER-Outcomes may be based primarily on
expectations, impossible to plan for all contingencies, unexpected events may change
decisions and payoffs, less accurate when more branches
Disadvantages of human capital method - ANSWER-Biases against specific groups and
assumptions about economic productivity
Disadvantages of willingness to pay method - ANSWER-Starting point, choice ranges,
wanting to please the interviewer can cause bias
Difficult for people to assign a WTP value to an intervention they do not typically
purchase
Domains of health status - ANSWER-Physical functioning
Psychological or mental functioning
Social or role functioning
General health perceptions
Effectiveness of CEA - ANSWER-Evaluates whether a healthcare good/service works in
a real world environment
Efficacy of CEA - ANSWER-Evaluates whether a healthcare good/service works in a
controlled environment
Examples of developing descriptions - ANSWER-Amount of pain/discomfort
Any restriction on activities
Time for treatment
External validity - ANSWER-The degree to which the conclusions in your study would
hold for other persons in other places and at other times
Four steps to calculate QALY - ANSWER-1. Develop a description
2. Choose a method
3. Choose subjects
3. Multiply utilities by length of life
Fundamentals of CEA - ANSWER-Units need to be the same between comparators
Multiple outcomes might be relevant when comparing two treatments
Can combine multiple outcomes to form a composite outcome
General health status measures - ANSWER-SF-36
SF-12
