Opportunity Cost in Healthcare Decision Making

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Questions and Answers

What was the gross NHS expenditure in 2008/9 as a percentage of GDP?

  • 4%
  • 12%
  • 8% (correct)
  • 16%

What is driving the demand for healthcare services according to the text?

  • Increased incidence and prevalence of cancer (correct)
  • Reduced usage of new technology
  • Decreased incidence and prevalence of cancer
  • Decreasing number of people over 75 years old

Why do healthcare systems worldwide face the problem of allocating limited resources?

  • Rising healthcare expenditure worldwide (correct)
  • Stagnant population growth
  • Decreasing demand for healthcare services
  • Limited access to advanced technology

What will be the number of over 75s by 2031 according to the text?

<p>8.2 million (B)</p> Signup and view all the answers

What is one of the factors contributing to the costs of new technology according to the text?

<p>High expense of new cancer therapies (B)</p> Signup and view all the answers

What is the main purpose of priority setting in healthcare, according to the text?

<p>To focus on treatments that improve the quality and/or length of someone’s life (B)</p> Signup and view all the answers

Which of the following is a level of rationing in the health system mentioned in the text?

<p>How much to allocate to specific interventions within sectors (C)</p> Signup and view all the answers

What are the two forms of rationing mentioned in the text?

<p>Explicit and implicit (C)</p> Signup and view all the answers

Why is health economics important, according to the text?

<p>To make some principles for resource allocation explicit (B)</p> Signup and view all the answers

What are the advantages of explicit rationing, as mentioned in the text?

<p>Transparent, accountable, and opportunity for debate (B)</p> Signup and view all the answers

What is the concept of scarcity in health economics?

<p>The need outstrips resources, so prioritization is inevitable (A)</p> Signup and view all the answers

What does opportunity cost mean in health economics?

<p>The value of the next best alternative use of resources once they have been used (B)</p> Signup and view all the answers

What does health economics aim to promote, according to the text?

<p>Efficiency and equity (D)</p> Signup and view all the answers

What is the financial cost of a nurse?

<p>20,000 USD (C)</p> Signup and view all the answers

What is the opportunity cost of three courses of IVF treatment?

<p>11 cataract removals (C)</p> Signup and view all the answers

What type of efficiency is concerned with choosing between the many needs to be met?

<p>Allocative efficiency (B)</p> Signup and view all the answers

Which type of economic evaluation focuses on quality adjusted life years?

<p>Cost utility analysis (A)</p> Signup and view all the answers

In cost benefit analysis, what can allow comparison with interventions outside healthcare?

<p>Monetary valuation (A)</p> Signup and view all the answers

What method is used to check the effects of assumptions in economic evaluation?

<p>Sensitivity analysis (D)</p> Signup and view all the answers

What measure is used to compare the cost-effectiveness of different uses of resources?

<p>Quality adjusted life years (C)</p> Signup and view all the answers

What does '0' represent on the scale used to measure the quality of life in QALY?

<p>Death (B)</p> Signup and view all the answers

Which formula is used to calculate Years of Life Lost (YLL)?

<p>YLL = N * L (B)</p> Signup and view all the answers

What does '1' represent on the DALY scale?

<p>Death (B)</p> Signup and view all the answers

Which of the following represents the number of healthy years gained?

<p>QALY (D)</p> Signup and view all the answers

What does the term 'YLD' stand for in the DALY calculation formula?

<p>Years Lived with Disability (A)</p> Signup and view all the answers

What is the basic formula for calculating YLD in the DALY calculation?

<p>$YLD = I imes DW imes L$ (C)</p> Signup and view all the answers

What does '0' represent in the DALY scale?

<p>Perfect health (D)</p> Signup and view all the answers

What do health interventions seek to increase?

<p>QALYs (B)</p> Signup and view all the answers

Which of the following is used to value a year lived by a young adult more highly than a year lived by a young child or at older ages?

<p>$C imes e - BX$ (C)</p> Signup and view all the answers

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