Cost-minimization analysis
- to choose the least costly alternative among interventions with equivalent outcomes
healthcare providers, decision makers
Who uses the data from a Cost-Minimization analysis? (2)
a
Which of the following is considered a partial economic evaluation/ NOT a full economic analysis?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
b
Which economic analysis assumes equivalent outcomes?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
study design, power of test/sample size, statistical test
What data is important for cost-minimization analysis (CMA)? (3)
b
Which economic analysis would most likely require the use of the orange book?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
false
Disimilar adverse effects have no impact on effectiveness and cost. T/F?
time-motion analysis
- a standard analytic procedure for determining the time and energy spent in activities over a period of time.
cost-benefit analysis (CBA)
•assesses whether the outcomes (benefits) outweigh the inputs (costs) of a program or intervention
straightforward, data availability
What are advantages associated with the Human Capital approach? (2)
value of future earnings
In the Human Capital approach, value of an intervention can be assessed in terms of the present _____________
chronic; acute
Yearly wage rate is best to calculate ________ conditions, while Daily wage rate is best to calculate _______ conditions.
value of health benefits equal the economic productivity that those values permit; Value of intervention can be assessed in terms of present value of future earnings
What does the Human capital approach tell us? (2)
unethical, biased, earnings don't necessarily equal work, doesn't value pain/suffering
What are disadvantages associated with the Human Capital approach? (4)
a
ONLY measures indirect costs/benefits.
a) Human Capital approach
b) Willingness to pay
b
Measures BOTH indirect & Intangible costs/benefits.
a) Human Capital approach
b) Willingness to pay
hypothetical nature, may feel need to respond in certain way
What are disadvantages associated with WTP method? (2)
c
Which pharmacoeconomic analysis can determine whether a goal is worth achieving or not?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
d
Which pharmacoeconomic analysis can ONLY give you the price of achieving a health goal?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
alternatives have a common effect and measured in a natural unit
Cost Effective analysis is used when ________.
cost-effective intervention
-outcome worth its corresponding cost relative to competing alternatives
intermediate outcome
-measurable effects of a disease or its treatment that are proved to be an indicator of the long-term, final outcome
-i.e. lab measures, disease markers
primary outcome
-clinical events
false
The intermediate outcome has no value or clinical significance alone. T/F?
TC1-TC2/ E1 - E2
ICER formula?
more effective and less costly
A new treatment dominates when it is
new treatment is more costly and less effective
An existing treatment dominates when
Cost-effective analysis (CEA)
- compares relevant costs and consequences of competing drug regiments and interventions.
Health-related QoL
–Is the part of a person’s overall quality of life that represents the functional effect of an illness and its consequent therapy upon a patient, as perceived by the patient
health
•a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity
chronic disease activity, detect undiagnosed/undetected disease
What are potential uses for HRQoL? (2)
QALYs; CUA
HRQoL can be used to derive utilities such as _______ & ______.
higher
Patients with the disease tend to give _______ utility scores than others.
a,c
When should we conduct CUAs?
a) when HRQoL is most important outcome
b) when intermediate outcomes are measured
c) when morbidity & mortality are important
d) when outcomes are measured by a single, natural unit
b,c
When should we NOT conduct CUAs?
a) when programs being evaluated have a wide range of outcomes
b) when intermediate outcomes are measured
c) when alternatives are equivalent in outcome measures
d) when analyzing how Alopecia affects a patient psychologically
c
Which pharmacoecon analysis expresses outcomes in $$?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
a
Which pharmacoecon analysis doesn't provide outcomes, just costs?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
e
Which pharmacoecon analysis is used to compare among different healthcare interventions?
a) Cost of Illness (COI)
b) Cost-Minimization Analysis (CMA)
c) Cost-Benefit Analysis (CBA)
d) Cost- Effective Analysis (CEA)
e) Cost-Utility Analysis (CUA)
determining utility is difficult; QALY and CUA are not well understood
What are disadvantages associated with CUA? (2)
future direct/non-direct medical cost avoided, increase productivity and avoid death (indirect), intangible benefits
What are 3 categories of benefits in a Cost-Benefit Analysis ?
utility
–Is a quantitative expression of an individual’s preference for, or desirability of, a particular state of health under conditions of uncertainty