What is an opportunity cost?
Benefit that could have been attained if treatment for that was provided
What are the main types of economic evaluation?
What principle does cost consequence apply?
Cost 1- Benefit 1 Cost 2 - Benefit 2
What is cost benefit?
How much more are you willing to pay for a benefit
What is cost effectiveness?
- Difference in cost and benefits between 2 methods
What is cost utility?
Measured using QALY (Quality adjusted life years)
What is cost minimisation?
If 2 treatments provided the same benefit, cheaper treatment option is chosen
What is marginal benefit?
Increase in benefit if there was an increased production by one additional unit
What is marginal cost?
Increased in cost if there was an increased in production by one additional unit
What is equity?
Maximisation of benefit for the money eg a poorer person will have more healthcare needs so they should be given care so that they can be at the same level as a wealthy person
Which people are QALY usually high?
2. Old people
What is the problem with cost effectiveness method?
What is the advantage of cost effectiveness method?
Measured as part of the clinical try and it is clearly understood
What does QALY value of 1,0 and -1 mean?
1- Healthy
0 - Dead
-1- Worse off than dead
What is measured in QALY?
- Quality of life
How is the quality of life data obtained?
Questionnaires, health state description, published values in literature
What does the questionnaire Euro-QoL use?
What are the problems associated with QALY’s?
What are the costs due to ill health to the NHS?
Direct - Social/healthcare, non-healthcare (OTC, Transport, paid carers, private health care)
Indirect - Lost of productivity, benefits and allowance for sick
What are the centres for NICE?
Who make up the majority/ least in NICE?
- Least: Manufacturer
Who make up the centre for public health?
Based on what criteria are screening programmes approved by the National Screening Committee?
What are the 3 types of distribution systems?