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36 Cards in this Set
- Front
- Back
These companies manufacture products that are beyond their patent exclusivity (off-patent)
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Generic Manufacturers
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Identify which is not the task of Group Purcasing Organizations
(GPO) Most GPOs offer other services 1.negotiate with the manufacturers for better pricing 2.Purchasing reports 3.Clinical reports 4.Decision support 5.purchase drugs 6.Consulting services 7..Education |
5.
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serve like a GPO, but for an insurance company or company that self-insures its employees
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Pharmacy Benefit Managers
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purchases medications from the manufacturers and resells them to the individual pharmacy
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Wholesalers
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The final purchaser (or end-user) of medications
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Beneficiary
AKA: Member, Resident, Patient |
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These companies work to handle drug returns
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Reverse Distributors
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Acquisition Costs (AC) + Procurement Costs (PC) + Carrying Costs (CC)
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Total Costs (TC)
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the price paid for the drug minus any rebates or discounts
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Acquisition Costs
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Includes the costs of shipping
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Procurement Costs
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How much to order?
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EOQ (economic order quantity)
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When to order ?
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Reorer point(ROP)
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how long it takes to get the product after it is ordered
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Lead time
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the back-up supply that should last until the order is received (and then some)
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Safety stock
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measures how fast an inventory moves
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Inventory Turnover Rate
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One is not part of acconting concern
1.analyzing, 2.classifying, 3.recording, 4.summarizing, 5.interpreting 6.purchasing |
6
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Which is not paired properly;
1.Analyzing: looking into business transactions that involve basic ongoing activities 2.Classifying: Assigning a category for the account analyzed 3.Recording: The process of documenting the transactions to provide a permanent record of the accounting activities 4.Summarizing: The totaling of ledgers and statements to generate a final figure 5.Analyzing: Utilizing the final figures to make business decisions |
5.
Is Interpreting not Analyzing |
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Financial Statements Used in Financial Accounting
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Income Statement
Statement of Owner’s Equity Balance Sheet Statement of Cash Flows |
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Shows the amount of retained earnings that have been accumulated
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Statement of Owner’s Equity
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answers the question of liquidity (how fast can assets be converted to cash)
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Statement of Cash Flows
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Ways of Analyzing Financial Statements
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Horizontal Analysis
Vertical Analysis Ratios Current Ratio Quick Ratio Inventory Turnover Ratio |
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asset : liability ratio
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Current Ratio
The greater the value ,the better the company is performing |
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is about determining alternatives that provide the best health care outcome per dollar spent.
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Pharmacoeconomics
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Which is not the task of PE
1.Cost-containment 2.Compromising of clinical decision making 3.Determining the cheapest health care alternatives 4.description and analysis 4 |
1,2,&3
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Six different types of costs
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Direct
Fixed Variable Indirect Intangible Incremental |
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costs that result from morbidity and mortality
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Indirect costs
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Are examples of Intangible cost
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Grief
Pain & Suffering Inconvenience |
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Increasing patients medication dose to achieve better outcomeis a good example of which type of cost
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Incremental
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Is not true of COI
1.Measures the direct and indirect costs associate with a specific disease or illness 2.Used to determine relative value of treatment or prevention strategy 3.Not used to compare treatment alternatives 4.Is one type of PE Assessments |
None
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Used to compare two or more treatment options that are equal in efficacy
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CMA
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----------converts benefits into equivalent dollars in its evaluation
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CBA
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When is a product considered as cost-effective
1.Alternative product is less expensive and at least as effective as comparator 2.Alternative is more expensive, but provides additional benefit worth the cost 3.Alternative is less expensive and less effective, but the extra benefit is not worth the cost 4.All |
4
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Looking for the best healthcare outcome per dollar spent
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CEA
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Expressed as quality-adjusted life-years (QALY)
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CUA
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One is notproperly paired with its outcome measurment.
1.Cost of Illness -Full assesment of overall outcome 2.Cost-minimization -Outcome is assumed to be equivqalent 3.Cost-benefit -Outcome is expressed interms of units of effect 4.Cost-effectiveness -outcome of unit is dollars 5.Cost-utility -QALYs |
1
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key demographic figures affecting hiring and employee retention
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Aging,
Ethnic Diversity, Increase Women in the workplace, Changing Family Make-up |
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Five primary steps to recruiting
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Job Description
Advertising applicant screenibg Interviewing Backgroubnd,reference Checks |