HCMI 3240 Exam 2 | Questions and Answers In Phase 1 of drug development, the proposed drug is given to 20 to 80 healthy volunteers: A) to examine the cost-effectiveness of the drug B) to explore the treatment effectiveness of the drug C) to investigate the safety of the drug D) with the hope of h...
In Phase 1 of drug development, the proposed drug is given to 20 to 80 healthy
volunteers:
A) to examine the cost-effectiveness of the drug
B) to explore the treatment effectiveness of the drug
C) to investigate the safety of the drug
D) with the hope of helping those who suffer from severe illness
Person 1 has a discount rate of 10% and Person 2 has a discount rate of 6%, which
person is more likely to seek preventative medical care?
Person 2
because lower discount rate means that they would like more medical care in the future
and people with a higher discount rate believe that they will not need as much care in
the future; preventative care where you take action now in order to reduce how much
will be needed in the future
In which of the following specialties doe the physician make the lowest income?
A) plastic surgery
B) orthopedics
C) dermatology
D) pediatrics
E) cardiology
Per person hospital stay days went down because of the following, except:
A) aging population
B) those who receive inpatient care spend fewer days in hospitals
C) more and more medical conditions can be treated in outpatient settings
D) improved efficiency of Rx drugs
True or False: deaths due to Type I error are called "statistical deaths"
False
that is type II error
True or False: one reason behind the increased market share of generic drugs is the
financial incentives provided by the insurers
True
True or False: people who are more concerned about future generations would prefer a
lower discount rate in calculating the NPV of social projects
, True: if they care about the future there needs to be a lower discount rate which is a
higher NPV
True or False: the cumulative probability of success for the drugs that pass the animal
tests stage successfully is typically about 50%
False: on average, about 1/5 of drugs that start Phase I are approved by the FDA which
is a 20 percent success rate
True or False: physicians are generally unhappy with Medicare payment rates
False: about 96% of physicians accept Medicare payment
True or False: the DRG payment system aimed to standardize the way Medicare pays
hospitals
True
True or False: more than 75% of physicians run their own medical practice and have no
partners (solo practice)
False
Historically (before 1980s) drugs were generally produced from:
A) chemical substances
B) genetics
C) proteins
D) living organisms
John values his own life at $7,000,000 per year. He currently. works at Hospital A for a
salary of $89,000 per year and has a 3/1,000 chance of death from working in the
hospital. Hospital B offers John a job that $105,000 per year and has 3/500 chance of
dying from working in the hospital. Calculate the differential (extra) pay per-life due to
increased death risk by hospital
16,000
John values his own life at $7,000,000 per year. He currently. works at Hospital A for a
salary of $89,000 per year and has a 3/1,000 chance of death from working in the
hospital. Hospital B offers John a job that $105,000 per year and has 3/500 chance of
dying from working in the hospital. Using the willingness to pay approach, what is the
extra payment per life lost paid by Hospital A?
16,000/3/1,000= 5,333,333.33
At the optimal quantity:
A) marginal cost is the lowest
B) total benefit is the highest
C) total net benefit is the highest
D) marginal net benefit is positive
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Jumuja. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
