Health Economics and Decision-Making Concepts
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Questions and Answers

What does the standard gamble illustrate regarding decision-making in health outcomes?

  • The indifference point between two health outcomes (correct)
  • The preference for guaranteed health over risky outcomes
  • The exact utility score corresponding to any health decision
  • The importance of time in trade-offs between health states

    • In the context of the time trade-off, what does the term 'x' represent?

  • Years in optimal health (correct)
  • Years in a poor health state
  • The duration of time traded off
  • The total lifespan of an individual

    • How is the utility score derived when comparing healthy years to poorer health years?

  • By calculating the average of the years traded
  • By dividing the optimal health equivalent by 20 (correct)
  • By adding the total years in both health states
  • By multiplying the poorer health years by 20

    • What is the significance of the probabilities in the standard gamble ranging from 0.05 to 0.95?

    <p>They indicate the degree of risk in healthcare choices</p> Signup and view all the answers

    What key concept is addressed by the time trade-off approach in health economics?

    <p>The trade-offs between time and quality of health</p> Signup and view all the answers

    What characterizes a normal market?

    <p>Complete information about products</p> Signup and view all the answers

    In a perfect market, what aspect ensures consumers are not exploited?

    <p>Competition among producers</p> Signup and view all the answers

    Which of the following is an example of an imperfect market?

    <p>Universal health insurance</p> Signup and view all the answers

    What is a key feature of health technology?

    <p>It includes interventions for various health needs</p> Signup and view all the answers

    What is one consequence of price unawareness in an imperfect market?

    <p>Potential for monopolistic pricing</p> Signup and view all the answers

    What results when equilibrium is met in a perfect market?

    <p>Fair pricing for both buyers and sellers</p> Signup and view all the answers

    Why are products in a normal market described as homogeneous?

    <p>They are substitutable for one another</p> Signup and view all the answers

    What is intrinsic to the concept of sovereign consumers in a perfect market?

    <p>Freedom to choose based on preferences</p> Signup and view all the answers

    What is a characteristic of partial evaluations?

    <p>Costs and outcomes are considered separately.</p> Signup and view all the answers

    Which of the following is NOT considered in a full evaluation?

    <p>Only costs associated with alternatives.</p> Signup and view all the answers

    How does a full evaluation differ from a partial evaluation?

    <p>It considers all costs and outcomes together.</p> Signup and view all the answers

    What is a key requirement for conducting a full evaluation?

    <p>Considering the consequences of options.</p> Signup and view all the answers

    Which statement about costs in evaluations is true?

    <p>Costs must be evaluated with outcomes for full evaluation.</p> Signup and view all the answers

    What happens when fewer than two alternatives are considered in an evaluation?

    <p>The evaluation is incomplete.</p> Signup and view all the answers

    Which of the following is essential for a comprehensive cost analysis?

    <p>Combining cost and outcome assessments.</p> Signup and view all the answers

    In evaluations, what does efficacy refer to?

    <p>The effectiveness of the alternatives evaluated.</p> Signup and view all the answers

    What is a major challenge faced in cost-effectiveness analysis?

    <p>Inappropriate clinical alternatives</p> Signup and view all the answers

    Which method is primarily used to measure outcomes in cost-utility analysis?

    <p>Quality Adjusted Life Years (QALYs)</p> Signup and view all the answers

    What is the utility score for a patient in perfect health?

    <p>1.0</p> Signup and view all the answers

    If a condition has a utility score of 0.3, what does this indicate about the health status?

    <p>The patient has frequent severe migraines.</p> Signup and view all the answers

    What is the approximate cost per life saved using volunteer paramedics in South Asia?

    <p>$128</p> Signup and view all the answers

    What is the focus of cost-minimization analysis?

    <p>Comparing costs and outcomes of multiple alternatives</p> Signup and view all the answers

    Why is there no standard effectiveness criterion in cost-effectiveness analysis?

    <p>Diverse study designs and context</p> Signup and view all the answers

    How is a Quality Adjusted Life-Year (QALY) calculated?

    <p>Number of life-years gained multiplied by quality of life</p> Signup and view all the answers

    Which of the following evaluations is focused on both costs and consequences?

    <p>Cost-effectiveness analysis</p> Signup and view all the answers

    What does a utility score represent in cost-utility analysis?

    <p>The quality of life associated with health states</p> Signup and view all the answers

    If a treatment results in better patient outcomes but is more expensive, what must be evaluated?

    <p>The relationship between cost and patient outcomes</p> Signup and view all the answers

    If a treatment provides 5 more years of life at a utility score of 0.8, what is its QALY impact?

    <p>4.0</p> Signup and view all the answers

    What is the utility score associated with daily migraines?

    <p>0.5</p> Signup and view all the answers

    Which economic evaluation is concerned with assessing different options based on cost and health outcome improvements?

    <p>Cost-effectiveness analysis</p> Signup and view all the answers

    How does cost-utility analysis address the quality of life for individuals with chronic diseases?

    <p>It may assign lower utility scores to reflect diminished quality of life</p> Signup and view all the answers

    What is the approximate cost per life saved using a community-based ambulance in the Middle East and North Africa?

    <p>$3,500</p> Signup and view all the answers

    What does a utility score of 0.1 represent?

    <p>Coma for one year</p> Signup and view all the answers

    In a cost-benefit analysis, how are costs typically evaluated?

    <p>In monetary terms reflecting their economic value</p> Signup and view all the answers

    How can costs be classified when evaluating health interventions?

    <p>Direct, indirect, and intangible costs</p> Signup and view all the answers

    Which of the following options is NOT a typical problem identified in cost-effectiveness analysis?

    <p>Incomplete patient health records</p> Signup and view all the answers

    When comparing two treatments, what would be the QALY for a treatment offering 3 years at perfect health?

    <p>3.0</p> Signup and view all the answers

    Which type of evaluation specifically assesses the health outcomes in terms of quality adjusted life years (QALYs)?

    <p>Cost-utility analysis</p> Signup and view all the answers

    In a cost-utility analysis, if a drug prevents a heart attack giving three additional years at perfect health, what is its utility score?

    <p>1.0</p> Signup and view all the answers

    What is a critical feature of economic evaluations in health care?

    <p>They compare multiple alternatives based on costs and outcomes</p> Signup and view all the answers

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