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Costs
Economics
Benefits
Types of Economic Analyses
Modeling
100
Those costs directly associated with the treatment or intervention like drug price & hospital costs
What are Direct Medical Costs?
100
The social science that analyzes the production, distribution & consumption of goods and serivces.
What is Economics?
100
Positive or favorable outcomes of treatments.
What are Benefits?
100
Compares treatments using costs & outcomes. Is a ratio of cost to outcomes (ICER). What's the bang for my buck?
What is CEA (cost effectiveness analysis)?
100
A tool used to understand the underlying relationships and estimate outcomes for a given set of inputs. ALways an approximation.
What is a model?
200
Those costs that result from loss of time due to illness like loss of productivity.
What are Indirect Costs?
200
Identifies, measures & compares the costs and consequences of a health-related intervention
What is Health Economics?
200
Markers for treatment effect like PFS.
What is an intermediate endpoint?
200
Compares treatments using cost & utilities. QALY (Quality-Adjusted Life-Years) most common measurement used.
What is CUA (Cost-Utility Analysis)?
200
The simplest form of model.
What is a decision tree?
300
Average pride paid to a manufacturer by wholesalers for drugs distributed to retail pharmacies. Serves as the basis for Medicaid rebate.
What is AMP (Average Manufacturer Price)?
300
The subdiscipline of health economics which focuses solely on the economic evaluation of pharmaceuticals.
What is Pharmacoeconomics?
300
The end result of treatment like OS.
What are Final Outcomes?
300
When insurance provider requires prior therapy with specific drugs before covering the new drug.
What is a step edit?
300
Particularly suited to modelling repeated events or progression of chronic illness.
What is a Markov model?
400
The price paid by a wholesaler, distributor, or other direct account. The manufacturer's published list price.
What is WAC (Wholesale Acquisition Cost)?
400
Includes clinical research (RTCs), outcomes research and health economics.
What does HEOR encompass?
400
A utility score based of the quality of life experienced by a patient during the number of life-years gained from treatment.
What is a QALYs (Quality-adjusted life-years)?
400
Prescriber must obtain approval from the payor to ensure coverage of the drug.
What is prior authorization?
400
A key output of a BIM. the cost to a health plan of a new treatment, expressed in terms of the change in monthly cost per plan member.
What is a PMPM (per member per month)?
500
The average price at which wholesalers sell drugs to physicians, pharmacies & other customers. Generally about 20% higher that WAC.
What is AWP (Average Wholesale Price)?
500
A multidisciplinary field of policy analysis. This assessment includes not only drugs but also devices, diagnostics, healthcare systems, processess & programs. More commonly required by European countries prior to a drug approval.
What is HTA (Health Technology Asessment)?
500
Subjectively reported by the patient like pain intensity or pain relief.
What is a PRO (patient reported outcome)?
500
Calculates the impact of new therapy introduction, cost per patient treated. How much will the new drug cost?
What is BIA/BIM (Budget-impact analysis, budget-impact model)?
500
Velcade is now $1506.00 effective July 1, 2012.
What is the WAC for VELCADE?