Pharmacy Econ
What is an appropriate result from a COI study using a societal perspective? A: Diabetes costs $116 billion (both direct and indirect costs) per year. B: Drug A is more costly than Drug B to control diabetes. C: Patients with diabetes spend $116 billion per year. D: Americans spend $5 million per year on Drug A.
* A: Diabetes costs $116 billion (both direct and indirect costs) per year.
Which of the following statements is FALSE regarding CMA? A: It is used commonly to compare between a wide range of alternative outcomes. B: Its use is limited due to the strong assumption of equivalent outcomes. C: It is one full model of economic evaluation.
* A: It is used commonly to compare between a wide range of alternative outcomes.
Pharmacoeconomics is used to A: answer the question of how limited resource can be used most efficiently and effectively. B: limit the use of pharmaceutical products and services to control cost. C: mainly provide evidence on efficacy of pharmaceutical products and services. D: mainly provide evidence on risk factors and adverse events associated with inappropriate use of pharmaceutical products.
* A: answer the question of how limited resource can be used most efficiently and effectively.
Pharmacoeconomics A: is a subset of economic evaluation with the focus of pharmaceutical products and services. B: is synonymous with outcomes research, which studies outcomes of pharmaceutical products and services. C: only analyzes the costs of pharmaceutical products and services. D: only analyzes the consequences of pharmaceuticals and pharmaceutical services.
* A: is a subset of economic evaluation with the focus of pharmaceutical products and services.
Which of the following is an example of how affordability of care affects local patients getting the flu shots from a pharmacy? A: Pharmacists are not allowed to give flu shots in the area. B: Flu vaccination is not covered by the insurance plan that serves the majority of the community. C: The majority of locals are young adults who are at a low risk of getting flu.
* B: Flu vaccination is not covered by the insurance plan that serves the majority of the community.
What is cost-minimization analysis? A: It compares costs between alternatives, under the assumption of different outcomes. B: It answers the question of which alternative is cost-saving. C: It minimizes the cost of an intervention by reducing the price.
* B: It answers the question of which alternative is cost-saving.
What is an advantage of CUA? A: It is difficult to estimate accurate utility value. B: It captures both mortality and morbidity. C: It is useful to compare the outcomes with common natural units. D: It has a strong assumption of equal quality of outcomes.
* B: It captures both mortality and morbidity.
Which of the following is TRUE about cost-of-illness analysis? A: It is also called cost minimization study. B: It studies the overall cost of a particular condition in a defined population. C: It is only conducted from the societal perspective. D: It provides detailed information for other pharmacoeconomic studies.
* B: It studies the overall cost of a particular condition in a defined population.
Which of the following is NOT a dimension of health status? A: Social or role functioning B: Patient-reported outcome C: Mental functioning D: General health perception
* B: Patient-reported outcome
You want to know the cost of providing flu vaccinations from your pharmacy. What perspective and what type(s) of costs could be considered appropriate? A: Society; direct medical cost, indirect cost and intangible cost B: Provider; direct medical cost C: Household; direct medical cost D: Provider; direct medical cost and indirect cost
* B: Provider; direct medical cost
From the perspective of an insurer, which of the following is a direct cost of health care? A: The copayment paid by patients at the pharmacy for prescriptions B: The charge from the pharmacy to the insurance plan for prescriptions C: The missed working days due to the visit to the pharmacy D: The side effects experienced by patients from taking the prescriptions
* B: The charge from the pharmacy to the insurance plan for prescriptions
Which method incorporates time in condition more easily to estimate utility and is relatively easy to understand by the respondents without dealing with probabilities? A: Rating scale B: Time trade-off C: Standard gamble D: Cognitive IQ test
* B: Time trade-off
A pharmacoeconomic analysis measures both costs and outcomes in monetary terms. A: Cost-Minimization Analysis B: Cost-Effectiveness Analysis C: Cost-Benefit Analysis D: Cost-Utility Analysis
* C: Cost-Benefit Analysis
Which of the following is true about cost-effectiveness analysis? A: It is not considered a type of pharmacoeconomic study. B: It does not compare between alternatives. C: It compares the costs of alternatives in terms of the outcomes. D: Outcomes are usually measured in monetary terms.
* C: It compares the costs of alternatives in terms of the outcomes.
Which of the following is FALSE regarding the US health care system, compared to others? A: Medicare operates like the National Health Insurance in Canada. B: Private market and third-party payers serve the majority of Americans. C: The standard prices of health care services are set for all health care providers, as in Germany. D: It is fragmented, with different systems operated by different entities to provide different services.
* C: The standard prices of health care services are set for all health care providers, as in Germany.
Which of the following is FALSE regarding estimating cost? A: When using retrospective data, inflation should be adjusted. B: Discounting should be used to adjust for time preference. C: Time preference means the value in the future is worth more than in the present. D: Time frame of costing depends on the perspective of costs.
* C: Time preference means the value in the future is worth more than in the present
Costs from a comprehensive societal perspective include A: Direct medical cost. B: Indirect cost. C: Direct medical cost and indirect cost. D: Direct medical cost, direct non-medical cost and indirect cost.
* D: Direct medical cost, direct non-medical cost and indirect cost.
Which method of costing is easy to use, but has a strong assumption of homogeneity of services? A: Micro-costing B: Activity-based cost allocation C: Total reimbursement D: Gross costing
* D: Gross costing
CDC (Centers for Disease Control and Prevention) want to know the cost of asthma in the US. Which perspective and what type(s) of costs should be considered? A: Provider; direct medical cost B: Society; direct medical cost C: Household; direct medical cost, indirect cost and intangible cost D: Society; direct medical cost, indirect cost and intangible cost
* D: Society; direct medical cost, indirect cost and intangible cost
Which of the following statements is correct regarding the components of the US health care delivery system? A: Both authorized institutions and professions are needed to deliver health care. B: Financing of the US health care system is all from private sector. C: Access to health care is independent of the delivery of health care. D: Managed care only deals with the financing of health care.
A: Both authorized institutions and professions are needed to deliver
When conducting a cost-benefit analysis, the results are best expressed as which one of the following? A: Cost-benefit ratio B: Average cost per utility C: Cost savings D: Incremental cost ratio
A: Cost-benefit ratio
Which of the following is TRUE regarding a visual analogue scale? A: It is an index or utility-based instrument B: It tends to be lengthy and investigators must be sensitivity to respondent burden when using a visual analogue scale C: It generates a mental composite score D: It is designed for specific disease states
A: It is an index or utility-based instrument
Which of the following is TRUE regarding the Time Trade-Off? ᅚA: It is an index or utility-based instrument ᅞB: It generates a mental composite score ᅞC: It is designed for specific disease states ᅞD: It should be used solely for patients with multiple sclerosis
A: It is an index or utility-based instrument
Which of the following is TRUE about pharmacoeconomics? A: Pharmacoeconomics uses economic evaluation tools to evaluate pharmaceutical products and services B: Pharmacoeconomics is a concerned with evaluating the effectiveness of health and health care C: Pharmacoeconomics only analyzes the costs of pharmaceuticals and pharmaceutical services D: Pharmacoeconomics only analyzes the humanistic outcomes of pharmaceuticals and pharmaceutical services
A: Pharmacoeconomics uses economic evaluation tools to evaluate pharmaceutical products and services
All EXCEPT which one of the following are true regarding simulation designs used to conduct a cost-effectiveness analysis? A: Simulations provide data that is as reliable as that obtained through an economic clinical trial B: Simulations allow for estimation of costs and consequences without the trouble of a prospective trial C: Simulations are inexpensive
A: Simulations provide data that is as reliable as that obtained through an economic clinical trial
In what type of perspective would costs incurred due to caregiver time be included? A: Societal B: Third Party Payer C: Employer D: Provider
A: Societal
Which one of the following statements does NOT describe a cost-effective treatment alternative? A: The alternative is more expensive and less effective B: The alternative is less expensive and at least as effective C: The alternative is more expensive with an additional benefit that is worth the additional cost
A: The alternative is more expensive and less effective
Which of the following statements is TRUE? A: The objective of a cost minimization analysis is to choose the least costly alternative among alternatives with similar outcomes B: Cost-utility analyses should be conducted when quality of life is not an important outcome C: Cost-effectiveness is a special type (or subtype) of cost-utility analysis
A: The objective of a cost minimization analysis is to choose the least costly alternative among alternatives with similar outcomes
Which of the following pairs of health-related quality-of-life terms are synonyms? A: Tools; Instruments B: Scales; Instruments C: Questions; Domains D: Items; Domains
A: Tools; Instruments
Suppose a treatment regimen for breast cancer costs $25,000 for standard of care vs $50,000 for new treatment annually; with 0.65 QALY for standard of care vs 0.95 QALY for new treatment. Assuming that the cost-effectiveness or "willingness-to-pay" threshold is set to $100,000. We want to know if the new treatment cost-effective. TRUE or FALSE: The new treatment is cost-effectiveness at a "willingness-to-pay" of $100,000 A: True B: False
A: True
In which one of the following situations is cost-utility analysis the correct tool for economic analysis of health care programs? A: When quality of life is an important outcome B: When the outcomes of the program are similar C: When the programs being compared have a wide range of different outcomes and you wish to have a common unit of output for comparison
A: When quality of life is an important outcome
A new vaccination program, started in 2015, is scheduled to spend $5,000 each of the next 3 years (2015, 2016, 2017). Assume a discount rate of 3.5% and CPI medical care rate of 3.1%. What is the total present value of these costs? A: $15,500 B: $14,500 C: $14,010 D: $15,400
B: $14,500
Drug A costs $300 per year and requires lab tests every 4 weeks for the first 6 months of therapy, which costs $50 per blood draw. Benefits of the therapy are valued at $1,000. What is the annual net-benefit of Drug A? A: $300 B: $400 C: $600 D: $1000
B: $400
Drug A costs $300 per year, with the benefit (value of the outcome) of $700. Drug B costs $500 per year, with the benefit of $1,000. What is the benefit-to-cost ratio of Drug B A: 1.67 : 1 B: 2.25 : 1 C: 3.33 : 1
B: 2.25 : 1
Which of the following is a disadvantage of CBA? A: A comparison of different types of outcomes can be conducted. B: A dollar value must be placed on the outcomes. C: Outcomes must be measurable in the same natural units. D: It can tell whether a goal is worthwhile to pursue.
B: A dollar value must be placed on the outcomes.
All of the following illustrate why pharmacoeconomics is becoming increasingly important, EXCEPT: A: Rising healthcare and pharmaceutical costs B: A reduction in demand for healthcare services and pharmaceutical products C: Allocation of limited healthcare dollars D: Increasing demand for quality assurance and outcomes evaluations
B: A reduction in demand for healthcare services and pharmaceutical products
You are asked to compare two possible treatment interventions for breast cancer. Treatment A increases life expectancy by 6 years at a utility health status value of 0.8. Treatment B increases life expectancy by 8 years at a utility health status value of 0.7. Which therapy provides the greatest number of QALYs? A: A B: B C: Both are equal
B: B
The consumer price index (CPI) is used to: A: Bring the value of future costs or benefits to the present day value B: Bring the value of past costs or benefits to the present day value C: Bring the value of both past and future costs or benefits to the present day value
B: Bring the value of past costs or benefits to the present day value
Which one of the following is the primary difference between a cost-minimization analysis and cost-of-illness analysis? A: COI assumes that consequences are identical and thus are not measured B: CMA measures consequences and COI does not C: COI involves determining the least costly alternative among competing therapies
B: CMA measures consequences and COI does not
Which of the following is NOT a quality considered in a "psychometric" review of a health related quality of life instrument? A: Validity B: Cost C: Responsiveness D: Reliability
B: Cost
This is an example of what type of pharmacoeconomic model? A: Budget Impact analysis B: Decision Tree analysis C: Markov Model D: Dynamic Transmission Model
B: Decision Tree analysis
What is a major difference between cost-effectiveness analysis and cost-utility analysis? A: Cost-utility analysis and cost-effectiveness analysis measure costs differently B: Intermediate outcomes can be used in a CEA, whereas final outcomes are required in CUA C: Results of a CUA carry more weight for policy makers than results from a CEA.
B: Intermediate outcomes can be used in a CEA, whereas final outcomes are required in CUA
All of the following are data sources from experimental studies, for use in pharmacoeconomic analysis, EXCEPT: A: Naturalistic trials B: Observational Studies C: Piggyback randomized controlled trials
B: Observational Studies
Use the case below to answer the following question. Treatment A and Treatment B for Disease X, result in 4 and 5 QALYs and have associated costs of $28,000 and $30,000, respectively. What is the ACER for treatment A? A: $28,000 per QALY B: $14,000 per QALY C: $7,000 per QALY D: $7,000 per LYS
C: $7,000 per QALY
You are asked to compare two possible treatment interventions for breast cancer. Treatment A increases life expectancy by 6 years at a utility health status value of 0.8. Treatment B increases life expectancy by 8 years at a utility health status value of 0.7. Calculate the quality-adjusted life years (QALYs) gained with treatment A. A: 3.0 B: 4.2 C: 4.8 D: 5.6
C: 4.8
An analysis of the total incident lifetime costs incurred by adults > 50 years old who suffer from major depressive disorder was undertaken in 2014. What would be the most appropriate methodology to calculate the total costs in a given year? A: Cost-utility analysis B: Cost-benefit analysis C: Cost-of-illness analysis D: Cost-minimization analysis
C: Cost-of-illness analysis
Choose the INCORRECT statement: A: Present costs or benefits are not equivalent in value to the same cost or benefit in the future B: Discounting adjusts future costs or benefits C: Discounting brings past costs and consequences to present day values
C: Discounting brings past costs and consequences to present day values
A CMA study reports that Rx A is favored over Rx B from the patients' perspective. Which of the following statements is correct? A: Rx A is cost-saving to the provider, compared with Rx B. B: Rx A is cost-saving to the society, compared with Rx B. C: Rx A costs the patients less than Rx B, with the same outcome. D: Rx A is cost-effective to the patients, compared with Rx B.
C: Rx A costs the patients less than Rx B, with the same outcome.
Confirming equivalency of outcomes in CMA should include which one of the following? A: Should be established through a positive finding in a superiority trial B: Should be a subjective process C: Should incorporate techniques such as meta-analysis or statistical testing
C: Should incorporate techniques such as meta-analysis or statistical testing
Which of the following is a final health outcome? A: LDL level (cholesterol) B: Liver enzymes C: Stroke D: Tumor markers (cancer)
C: Stroke
Which one of the following statements best describes an incremental cost-effectiveness ratio? A: A summary measurement of efficiency B: The cost per benefit of a new strategy, independent of other treatment alternatives C: The extra cost to obtain an extra benefit realized when switching from one strategy to another D: The cost per quality-adjusted life year gained
C: The extra cost to obtain an extra benefit realized when switching from one strategy to another
Which one of the following statements is FALSE? A: General health status questionnaires may be used to assess quality of life across all populations, regardless of age, sex or disease state B: General health status questionnaires may lack sensitivity to detect changes in quality of life C: Validity is the psychometric property that allows researchers to detect change over time when using a health related quality of life questionnaire D: Both a disease-specific and a general health-related quality of life questionnaire may be included in a research study
C: Validity is the psychometric property that allows researchers to detect change over time when using a health related quality of life questionnaire
Which of the following methods to estimate the monetary values of lifeyears has the advantage that it can value both the indirect and intangible aspects? A: Market valuation B: Human capital approach C: Willingness-to-pay D: Policy makers view
C: Willingness-to-pay
Which of the following statements is NOT TRUE regarding cost-minimization analysis (CMA)? A: CMA is a tool used to compare the costs of two or more treatment alternatives B: CMA shows only a cost savings of one treatment alternative over another C: CMA measures costs of treatment alternatives in dollars and assumes comparable efficacy in outcomes D: CMA is a method to be used when no evidence exists to support the therapeutic equivalence of two or more treatment alternatives
D: CMA is a method to be used when no evidence exists to support the therapeutic equivalence of two or more treatment alternatives
All of the following are applications of cost-minimization analysis, EXCEPT: A: Generic vs brand name drugs B: Different routes of administrations (i.e., IV vs IM) C: Different administrations settings D: Disease burden in a given population
D: Disease burden in a given population
All of the following are factors to consider when conducting a cost-minimization analysis, EXCEPT: A: Attempt to establish equivalency before conducting the analysis B: Identify and measure all relevant costs and consequences C: Determine the perspective of the analysis before measuring costs and consequences D: Identify intermediate outcomes and only include these in the analysis
D: Identify intermediate outcomes and only include these in the analysis
All of the following are steps in conducting a cost-effectiveness or cost-utility analysis, EXCEPT A: Define the problem B: Measure costs and outcomes C: Identify intervention options D: Identify randomized controlled trial data to include in the analysis
D: Identify randomized controlled trial data to include in the analysis
Which of the following is true about cost-benefit analysis? A: It does not deal with alternatives. B: Outcomes of alternatives need to be equivalent. C: Outcomes are measured in natural units, such as clinical measurements. D: It compares both costs and outcomes in monetary terms.
D: It compares both costs and outcomes in monetary terms.
Which of the following is FALSE about conducting a CMA? A: Evidence on equivalent outcomes is limited from non-inferiority studies. B: It is necessary to include the components that may result in essential difference. C: Limited evidence on the assumption of equivalent outcomes makes the findings of CMA subjective to the readers. D: It is required to calculate the costs with the most comprehensive scope.
D: It is required to calculate the costs with the most comprehensive scope.
Which of the following is true regarding managed care? A: Health Maintenance Organization (HMO) is the only type of managed care organization. B: Managed care is designed only to improve the quality of care. C: There are no formulary limitations in the benefit designs. D: It is the current primary economic and social choice for all stakeholders of health care in the US.
D: It is the current primary economic and social choice for all stakeholders of health care in the US.
For a cost-effectiveness analysis, choose the unit in which the outcome is measured: A: Dollars B: Equivalent outcomes C: QALY D: Natural units
D: Natural units
Which of the following is NOT considered a fixed cost: A: Heat B: Rent C: Lighting D: Supplies
D: Supplies
The results of a cost-benefit analysis should only be reported as either a net cost or a net benefit ᅞTrue ᅚFalse
false results are expressed ad either a cost to benefit ratio or the net cost or benefit
DRG and ICD codes are used to value direct costs and economic outcomes ᅚTrue ᅞFalse
true
Physical functioning is measured as one dimension of health status. ᅚTrue ᅞFalse
true
True or false: Decision trees are best used for short-term decisions, NOT long-term, chronic diseases. ᅚTrue ᅞFalse
true
To establish equivalent outcomes, any differences in secondary health outcomes must be sufficiently small as to not attain clinical significance ᅚTrue ᅞFalse
true secondary outcomes dont have to be equivalent provided the differences dont affect the primary outcomes
Use the case below to answer the following question. Treatment A and Treatment B for Disease X, result in 4 and 5 QALYs and have associated costs of $24,000 and $50,000, respectively. What is the ICER for treatment B compared with treatment A? ᅚA: $26,000 per QALY ᅞB: $24,000 per QALY ᅞC: $6,000 per QALY ᅞD: $10,000 per LYS
ᅚA: $26,000 per QALY
You are asked to compare two possible treatment interventions for prostate cancer. Treatment A increases life expectancy by 1.5 years at a utility health status value of 0.8. Treatment B increases life expectancy by 3 years at a utility health status value of 0.35. Which therapy provides the greatest number of QALYs? ᅚA: A ᅞB: B ᅞC: Both are equal
ᅚA: A
Choose the CORRECT statement: ᅚA: Discounting adjusts future costs or benefits ᅞB: Present costs or benefits are equivalent in value to the same cost or benefit in the past ᅞC: Inflation adjusts future costs or benefits ᅞD: Discounting brings past costs and consequences to present day values
ᅚA: Discounting adjusts future costs or benefits
Markov modeling is useful when: ᅚA: Events can occur more than once ᅞB: Events can occur at the same time ᅞC: Information needs to be easily calculated ᅞD: Information needs to be maximally transparent
ᅚA: Events can occur more than once
Which of the following pairs of health-related quality-of-life terms are NOT synonyms? ᅚA: Instruments; Scales ᅞB: Questionnaires; Instruments ᅞC: Questions; Items ᅞD: Scales; Domains
ᅚA: Instruments; Scales
The most precise way to value costs associated with hospitalizations are ᅚA: Micro-costing ᅞB: Disease-specific per-diem costs ᅞC: DRG codes to approximate payment by CMS ᅞD: Dividing the AMP by the AWP
ᅚA: Micro-costing
Which of the following is a general HRQOL tool? ᅚA: Short Form-36 and -12 (SF-36 and SF-12) ᅞB: EuroQoL-5D-3L (EQ-5D) ᅞC: Time Trade-Off (TTO) ᅞD: 12-Item Multiple Sclerosis Walking Scale (MSWS-12)
ᅚA: Short Form-36 and -12 (SF-36 and SF-12)
When reading a cost-minimization analysis, results should be reported as: ᅚA: The breakdown of total or average costs for each alternative ᅞB: Cost/outcome ᅞC: Net cost ᅞD: The breakdown of secondary, clinical outcomes
ᅚA: The breakdown of total or average costs for each alternative
Pharmacoeconomics is used to ᅚA: answer the question of how limited resource can be used most efficiently and effectively. ᅞB: limit the use of pharmaceutical products and services to control cost. ᅞC: mainly provide evidence on efficacy of pharmaceutical products and services. ᅞD: mainly provide evidence on risk factors associated with inappropriate use of pharmaceutical products.
ᅚA: answer the question of how limited resource can be used most efficiently and effectively.
Reliability, validity, and responsiveness are considered: ᅚA:Psychometric properties of a health-related quality of life instrument ᅞB: Methods for selecting a health-related quality of life instrument ᅞC: Methods for measuring utility values ᅞD: Types of outcomes measures
ᅚA:Psychometric properties of a health-related quality of life instrument
Drug A costs $80 per month and requires lab tests every week, which costs $25 per blood draw. Benefits of the therapy are valued at $400. What is the monthly net-benefit of Drug A? ᅞA: $180 ᅚB: $220 ᅞC: $400 ᅞD: $680
ᅚB: $220
Which of the following is a disadvantage of a cost-benefit analysis? ᅞA: A comparison of different types of outcomes can be conducted. ᅚB: A dollar value must be placed on the outcomes. ᅞC: It can tell whether a program is worthwhile to pursue.
ᅚB: A dollar value must be placed on the outcomes. cost benefit is measured in monetary units aka money
The consumer price index (CPI) is used to: ᅞA: Bring the value of future costs or benefits to the present day value ᅚB: Bring the value of past costs or benefits to the present day value ᅞC: Bring the value of both past and future costs or benefits to the present day value
ᅚB: Bring the value of past costs or benefits to the present day value
Health Economics is the: ᅞA: Description and analysis of the costs and consequences of pharmaceuticals and pharmaceutical services ᅚB: Description and analysis of the costs and consequences of health and health care ᅞC: Use of peer review literature and clinical experience to optimize individual patient care ᅞD: Result of health care attributable to a specific intervention
ᅚB: Description and analysis of the costs and consequences of health and health care
Health Economics is the: ᅞA: Description and analysis of the costs and consequences of pharmaceuticals and pharmaceutical services ᅚB: Description and analysis of the costs and consequences of health and health care ᅞC: Use of peer review literature and clinical experience to optimize individual patient care ᅞD: Result of health care attributable to a specific intervention
ᅚB: Description and analysis of the costs and consequences of health and health care
Choose the INCORRECT statement: ᅞA: Economic outcomes data can be obtained patient, provider, medical chart review, administrative databases ᅚB: Humanistic outcomes data can be obtained patient, provider, medical chart review, administrative databases ᅞC: Clinical outcomes data can be obtained patient, provider, medical chart review, administrative databases
ᅚB: Humanistic outcomes data can be obtained patient, provider, medical chart review, administrative databases
What is a cost-minimization analysis? ᅞA: It compares costs between alternatives, under the assumption of different outcomes. ᅚB: It answers the question of which alternative is least costly. ᅞC: It minimizes the cost of an intervention by reducing the price. ᅞD: It uses quality of life measures to find lowest cost.
ᅚB: It answers the question of which alternative is least costly. CMA: objective to determine the least costly alternative
Given the following table, what program has the greatest net benefit? Option Cost Benefit Net Benefit Benefit-toCost Ratio Program A $20,000 $40,000 2 : 1 Program B $100,000 $150,000 1.5 : 1 ᅞA: Program A ᅚB: Program B ᅞC: Both programs are equal
ᅚB: Program B
You are asked to compare two possible treatment interventions for prostate cancer. Treatment A increases life expectancy by 1 years at a utility health status value of 0.8. Treatment B increases life expectancy by 3 years at a utility health status value of 0.4. Calculate the quality-adjusted life years (QALYs) gained with treatment A. ᅞA: 1.6 ᅞB: 1.2 ᅚC: 0.8 ᅞD: 0.4
ᅚC: 0.8
Drug A costs $1000 per year, with the benefit (value of the outcome) of $3000. Drug B costs $400 per year, with the benefit of $1,400. What is the benefit-to-cost ratio of Drug B? ᅞA: 1.5 : 1 ᅞB: 2 : 1 ᅚC: 3.5 : 1 ᅞD: 3 : 1
ᅚC: 3.5 : 1
Two drugs have the same clinical performance. A hospital wants to know which drug is cost saving to be served as the primary treatment on the formulary. Which type of study you would use to answer the question? ᅞA: COI ᅞB: CEA ᅚC: CMA ᅞD: CBA
ᅚC: CMA key word same. cost minimization is the same
Which of the following is NOT a step in Markov modeling? ᅞA: Choosing Markov states ᅞB: Estimating transition probabilities ᅚC: Deciding the appropriate test statistic ᅞD: Identifying the appropriate time horizon
ᅚC: Deciding the appropriate test statistic
Absenteeism is an example of what type of cost? ᅞA: Direct medical ᅞB: Direct non-medical ᅚC: Indirect ᅞD: Intangible
ᅚC: Indirect
The ICER of Rx A compared with Rx B is reported as $1400 per extra life year saved. What is the correct interpretation of the result? ᅞA: Rx A is dominant. ᅞB: Rx B is dominant. ᅚC: It costs an additional $1400 per additional life year saved with Rx A compared to Rx B. ᅞD: It costs $1400 to save one extra life with Rx B
ᅚC: It costs an additional $1400 per additional life year saved with Rx A compared to Rx B.
Which of the following is NOT considered a variable cost: ᅞA: Medications ᅞB: Professional Fees for Services ᅚC: Lighting ᅞD: Supplies
ᅚC: Lighting
Which of the following is a way that pharmacists can use humanistic outcomes data? ᅞA: To replace costly laboratory value measurements ᅞB: To measuring mortality and morbidity ᅚC: To monitor and/or evaluate clinically-based services or programs ᅞD: Interchangeably with or in place of clinical outcomes data
ᅚC: To monitor and/or evaluate clinically-based services or programs
Which of the following is an appropriate use of a cost-utility analysis? ᅞA: When stakeholders are interested in the "least costly alternative" ᅞB: When "cases cured" is a relevant outcome ᅚC: When quality of life is a relevant outcome ᅞD: When a hospital administrator is deciding between funding a new anticoagulation clinic or building an orthopedic surgery unit.
ᅚC: When quality of life is a relevant outcome
Which of the following is TRUE of a sensitivity analysis? ᅞA: Of the pharmacoeconomic methodologies, only a cost-utility analysis should include a sensitivity analysis ᅞB: A cost-effectiveness analysis should never include a sensitivity analysis ᅞC: A sensitivity analysis is only useful in generating the base-case analysis ᅚD: A sensitivity analysis requires that the results be recalculated at the different values to see if the conclusions change
ᅚD: A sensitivity analysis requires that the results be recalculated at the different values to see if the conclusions change
All of the following are data sources that can be used in pharmacoeconomic analysis, EXCEPT: ᅞA: Naturalistic trials ᅞB: Observational Studies ᅞC: Simulation studies ᅚD: Biomarker development experiments
ᅚD: Biomarker development experiments
Choose the most appropriate pharmacoeconomic methodology described in the following abstract selection: After its introduction, laparoscopic cholecystectomy rapidly expanded around the world and was accepted the procedure of choice by consensus. However, analysis of evidence shows no difference regarding primary or secondary outcome measures between laparoscopic and small-incision cholecystectomy. In absence of clear clinical benefits, this study focused on a difference in costs between laparoscopic and small-incision cholecystectomy with the intention to find the least costly alternative. Total costs were analyzed from a societal perspective.´ ᅞA: Cost-effectiveness analysis ᅞB: Cost-benefit analysis ᅞC: Cost-of-illness analysis ᅚD: Cost-minimization analysis
ᅚD: Cost-minimization analysis
Which of the following is a final health outcome? ᅞA: C-Reactive Protein (inflammation) ᅞB: Cardiac enzymes ᅞC: Blood Glucose levels ᅚD: Death
ᅚD: Death
All of the following are true of steps in conducting a cost-effectiveness or cost-utility analysis, EXCEPT: ᅞA: Identify the perspective ᅞB: Measure costs and outcomes after the perspective is identified ᅞC: Calculate the appropriate cost-effectiveness metrics ᅚD: Identify data sources that only use prospectively collected data from an experimental study
ᅚD: Identify data sources that only use prospectively collected data from an experimental study
The results of a Markov model are as follows: Assuming a willingness to pay threshold of $50,000/QALY, Drug A was cost-effective in 75% of the 10,000 iterations run. Identify the calculation method used to provide these results. ᅞA: Cohort simulation ᅞB: Benefit simulation ᅞC: Fundamental matrix ᅚD: Monte Carlo simulation
ᅚD: Monte Carlo simulation
For a cost-of-illness analysis, choose the unit in which the outcome is measured: ᅞA: Dollars ᅞB: Equivalent outcomes ᅞC: Natural units ᅚD: Not assessed
ᅚD: Not assessed
Externalities in health care are best represented by which one of the following? ᅞA: Costs averted from implementation of a health care program ᅞB: Decreases in an individuals risk of heart disease resulting from that individuals adherence to lifestyle modifications and preventative medications ᅞC: Gains in resource consumption ᅚD: Protection against infection afforded to the unimmunized by implementation of an immunization program
ᅚD: Protection against infection afforded to the unimmunized by implementation of an immunization program
If a new treatment is less expensive and more effective than an alternative treatment, the new treatment can be described as dominant in comparison to the alternative treatment. ᅚTrue ᅞFalse
ᅚTrue
Intermediate outcomes can be used in a CEA, whereas final outcomes are required in CUA ᅚTrue ᅞFalse
ᅚTrue
Suppose a treatment regimen for overactive bladder costs $1,000 for standard of care vs $5,000 for new treatment annually; with 0.8 QALY for standard of care vs 0.95 QALY for new treatment. Assuming that the costeffectiveness or ³willingness-to-pay´threshold is set to $30,000. We want to know if the new treatment costeffective. TRUE or FALSE: The new treatment is cost-effectiveness at a ³willingness-to-pay´of $30,000 ᅚTrue ᅞFalse
ᅚTrue
Based on the abstract presented below, regarding denosumab, a medication used to treat osteoporosis, answer the following question. Purpose. To evaluate the cost-effectiveness of denosumab versus alendronate (another osteoporotic treatment) in older men with osteoporosis from a US payer perspective. Methods. A pharmacoeconomic analysis was used. Men in this model were 78 years old, with a Bone Mineral Density T-score of -2.12 and a vertebral fracture prevalence of 23%. During each 6-month cycle, patients could have experienced a fracture, remained well, or died. Fracture risks, mortality rates, health utilities, and medica/drug costs were derived from published literature. Lifetime expected costs and quality-adjusted life-years (QALYs) were estimated for denosumab vs alendronate. Results. Denosumab had an incremental cost-effectiveness ratio (ICER) of $16,888/QALY compared to alendronate. Results were most sensitive to changes in costs of denosumab and the relative risk of hip fracture. Conclusion. Despite a higher annual treatment cost compared to other medications, denosumab provides an incremental benefit at a higher incremental cost per QALY compared to other osteoporotic treatments in older osteoporotic US men. The abstract describes what type(s) of economic analysis? ᅚA: Cost utility analysis ᅞB: Cost minimization analysis ᅞC: Cost effectiveness analysis
ᅞC: Cost effectiveness analysis
