Medical Economics Final

Studies that measure the costs of treating an illness using clinical measurements as the treatment's outcome variable are referred to as the:

a)cost-effectiveness analysis

3 multiple choice options

Studies that are designed to measure the costs of treating an illness on the basis of the preference equivalents of the treatment's outcomes are referred to as the:

b)cost utility analysis

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Studies that are directly compare the costs of treatment options for an illness with the assumption that all the outcomes of the treatment options are equivalent referred to as the:

c)cost-minimization analysis

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______________ analysis relies on careful selection of outcome measures for meaningful comparison of alternative therapies

a)cost-effectiveness

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Therapeutic measures of effectiveness in ___________ analysis rely on the selection of therapeutic measure/outcome

a)cost-effectiveness

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In ___________ analysis, alternative therapies may have different costs as well as different levels of effectiveness, so it uses the ratio of outcome achieved to cost expended

a)cost-effectiveness

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_______________ analysis is a specialization of cost-effectiveness analysis

b)cost utility

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______________ analysis quantifies the value individual places on the health and well-being

b)cost utility

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____________ analysis in not a technique for driving down expenditures, but provides for a comparison of costs for alternative interventions with equivalent outcomes

c)cost-minimization

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As a member of a medical team, you are asked to help decide whether a new antihyperlipidemic medicine or a new long-acting asthma control medication will improve the quality of life for the greatest number of the patients at the least cost. To resolve this issue, you suggest conducting:

c)Cost utility analysis

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Suppose the clinical investigators want to compare different protease inhibitors (to treat viral infection) on cost per death averted. The investigators will most likely use the following ratio to evaluate the success of each therapy:

a)cost/effectiveness

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The following can be considered to be beneficial based on the benefit to cost ratio:

c)benefit/cost>1

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Cost-effectiveness ratios are calculated as the:

c)difference between the total cost of the treatment and the current standard divided by the difference in effectiveness of the treatment and the current standard

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You are reading a clinical study evaluating two different treatments for chronic obstructive pulmonary disease

(COPD). You note that the authors have attempted to account for all costs relevant to all parties and that the outcomes of the study are measured using the visual analog scale (like Likert scale). This information tells you that:

a)the study was conducted from the societal perspective using cost-utility analysis

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Cost Utility Analysis (CUA) differs from Cost Effective Analysis (CEA) in that:

c)CUA considers changes in both length and quality of life

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A physician wishes to test multiple drugs for the treatment of depression, for both their clinical and humanistic outcomes, prior to their inclusion in the formulary (list of approved drugs to be prescribed from). Ideally, the formulary manager must use the following types of pharmacoeconomic analyses to make decisions about formulary inclusion of these drugs

a)cost effective analysis and cost utility analysis

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A cost-effectiveness study comparing two alternatives for the treatment of asthma was conducted. The incremental cost-effectiveness ratio of drug Á in comparison to drug B was reported to be $50/symptom-free day. Which one of the following is the best interpretation of this ratio?

c)it costs an additional $50 for every symptom-free day gained by using drug A.

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What is the problem with the utility measure in Cost Utility Analysis?

e)all of the above: it's controversial, poorly understood, lacks good definition, and difficult to measure directly

Decision analysis is most useful for making decisions

d)all of the above: under conditions of uncertainty, when there is not a clearly superior course of action, and when tradeoffs must be made among alternate courses of action

You can use 'Cost Effectiveness Analysis' to compare between two different medications for the treatment of the same disease like "high blood pressure".

a)true

2 multiple choice options

Cost-utility analysis is only useful when comparing two or more healthcare interventions having the same outcome (e.g. number of myocardial infarctions prevented), while cost-benefit analysis allows the comparison of two or more health care interventions with entirely different outcomes.

b)false

2 multiple choice options

_______________ is an appropriate evaluation method to use when the case for an intervention has been established and the programs or procedures under consideration have the same, or similar, outcomes.

a)cost-minimization analysis

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Cost-effectiveness analysis (CEA) refers to the comparison in which both the inputs and the outcomes are measured in monetary values.

b)false

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Cost-minimization analysis (CMA) is a comparison in which inputs are measured in monetary values and outcomes are assumed to be identical.

a)true

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Cost-utility analysis (CUA) is a comparison in which inputs are measured in non-monetary units and outcomes are measured as patient preference-weighted extension of life.

b)false

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Quality-adjusted life years (QALY) is the outcome measured as life years gained adjusted (weighted) by patient preferences for various health states.

a)true

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"Symptom-free days" is the outcome measure used to indicate how many days an individual has symptoms related to the disease of interest.

b)false

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Prozac, Amazic (a made-up named drug), and Cecazac (a made-up named drug) are drugs used to treat depression.

They are equally effective in the treatment of depression, and they have the same side-effect profiles. However, their costs differ substantially. Which economic technique should be used to compare them?

a)cost-minimization analysis

3 multiple choice options

What is the outcome/effectiveness measure most commonly used in cost utility analyses?

c)quality-adjusted life years saved

3 multiple choice options

Quality Adjusted Life Years (QALY) combines morbidity and mortality in one effectiveness measure

a)true

2 multiple choice options

It is estimated that the average patient will live for 10 years after a heart attack. Assume that patients would trade 1 year of life in the kind of health experienced after a heart attack for 0.75 years of good health. How many quality-adjusted life years can a patient expect to experience after a heart attack

b)7.5 QALYs

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Disability Adjusted Life Years (DALYs) for a disease are years:

c) a and b-of life lost due to premature mortality (YLL) in the population and lost due to disability (YLD) for incident cases of the health condition

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Decision analysis is an application of an analytical method that systematically compares different decision options.

a)true

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What is the probability of using an antibiotic for patients treated with "Flu-wonder"?

b)0.05

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What is the expected number of sick days for a patient treated symptomatically?

b)6.3 days

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How many sick days would a patient treated with "Flu-wonder" experience if he required hospitalization?

c)10.0

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37: Based on the decision analis, which agent is more effective at minimizing sick days?

a)flu-wonder

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The expected cost (to the nearest dollar) for treating a patient for pain with tramadone is:

c)$448

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The value of X in Figure # 2 is:

b)0.20

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The "O" symbol in Figure # 2 is:

b)chance mode

3 multiple choice options