Question 1

The economic analysis method used when there are alternative ways of attaining a single type of outcome is:

Accepted Answer

Cost-effectiveness analysis is used to compare different ways to achieve a specific outcome, focusing on the costs and effects of each alternative.

Question 2

If a new treatment is less costly than an old treatment and the new treatment is more effective then

Accepted Answer

The new treatment is dominant because it is both less costly and more effective than the old treatment.

Question 3

If in each of a 3-year period a quality-adjusted life year (QALY) value of 0.75 is reported, each surviving individual would experience a total of:

Accepted Answer

Each year, the individual experiences 0.75 QALYs. Over 3 years, this totals 0.75 * 3 = 2.25 QALYs.

Question 4

The concept related to differences in outcomes between interventions under non-experimental conditions is:

Accepted Answer

Effectiveness refers to the performance of an intervention under real-world, non-experimental conditions, focusing on the actual outcomes achieved in practice.

Question 5

When the outcomes are the same for all of the interventions being studied, then the economic analysis method that can be applied is:

Accepted Answer

Cost-minimization analysis is used when the outcomes are the same for all of the interventions being studied. This method compares the costs of the different interventions to determine which one is the most cost-effective.

Question 6

An economic evaluation provides all the answers for making informed choices.

Accepted Answer

An economic evaluation provides valuable insights but not all the answers, as it must be considered alongside other factors such as ethical, social, and political considerations.

Question 7

The more narrowly a problem is defined in an economic evaluation, the more alternatives available for solving the problem.

Accepted Answer

Narrowly defining a problem typically limits the scope and reduces the number of alternatives, as it focuses on specific aspects rather than considering a broader range of possibilities.

Question 8

Incremental cost-effectiveness ratio (ICER) is another form of cost-effectiveness analysis.

Accepted Answer

ICER is a specific measure used in cost-effectiveness analysis to compare the relative costs and outcomes of different interventions.

Question 9

The net benefit approach in economic analysis compares projects on the basis of the average

Accepted Answer

The net benefit approach compares projects based on the total net benefits, not the average.

Question 10

In economic analysis, a decision tree can be used in analyzing events that occur repeatedly or over a long period of time.

Accepted Answer

The answer of In economic analysis, a decision tree can...

Question 11

Clinical outcome measures do not indicate how patients regard their own conditions.

Accepted Answer

Clinical outcome measures focus on objective, quantifiable data, such as survival rates or disease progression, and do not capture patients' subjective experiences or perceptions of their condition.

Question 12

Life tables have been developed that show, for each age cohort of the population, the probability that a person of that age will not survive until his or her next birthday.

Accepted Answer

Life tables, also known as mortality tables, are statistical models that provide the probability of death for individuals at each age, helping to estimate life expectancy and survival rates for different age cohorts.

Question 13

A health economist was asked to compare outcomes and costs of two diabetes therapies that affected both the severity of the disease and the survival rate. What evaluation concept should be used? Explain your answer.

Accepted Answer

The answer of A health economist was asked to compare...

Question 14

What are the steps in an economic analysis, regardless of the method employed?

Accepted Answer

The answer of What are the steps in an economic...

Question 15

Patients who were hospitalized for asthma were placed on a new drug. The drug resulted in an extra day of hospitalization (the length of stay went from 6 to 7 days), the extra day would cost $1,600. There were no other differences in the treatment. The drug cost $600 for the dose. Also, administration of the drug and monitoring of the patient after administration took an hour of nursing time (wage = $40 per hour) and $20 in supplies were used in the administration of the drug. The mortality rate was 20 deaths per 100 with the drug and 24 deaths per 100 without it. What is the cost-effectiveness ratio for using the drug?

Accepted Answer

The answer of Patients who were hospitalized for asthma were...

Quiz 12: Economic Evaluation of Health Services