The term “Pharmacoeconomics” refers to the scientific discipline whereby we’re able to compare the value of one pharmaceutical drug or drug therapy to that of another, commonly used as a means of evaluating the cost and effects of a pharmaceutical product. How much can you tell us about how Pharmacoeconomics is studied and put into practice? Take the following quiz and we’ll find out together!
Cost
Opportunity cost
U&C charge
Reimbursed value
Prescription medications the patient must take
Lost productivity for the patient
Taking the bus to get to the hospital
Hiring a babysitter so you can get to get to the doctor's visit
X-ray costs
The hotel cost for patient/family for out of town care
Nonmedical assistance related to condition (meals on wheels, homemaking service)
Direct medical
Direct nonmedical
Indirect
Intangible
Looking at each component of a charge instead of the total charge
Measuring resources used to provide the service and benefit measured as direct medical costs avoided because of provision of service
Attempting to more accurately reflect real costs due to most reimbursement being less than U&C charges
True
False
Discounted, adjusted
Adjusted, discounted
True
False
Dollars or monetary units
Natural units (life years gained)
QALY
CUA
CBA
COI
Cost consequence
Cost avoidance
None of the above
CBA
CUA
CMA
CEA
Coma
Death
Perfect health
True
False
Real world
Relatively ideal
IRR, human capital approach
IRR, WTP
Human capital approach, WTP
WTP, IRR