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HCMI 3240 Exam 2 | Questions and Answers CA$22.64
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HCMI 3240 Exam 2 | Questions and Answers
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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...

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  • September 25, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • hcmi 3240 exam 2
  • hcmi 3240 exam
  • hcmi 3240
  • in phase 1 of drug development the proposed
  • drug is given to 20 to 80 healthy volunteers

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  • HCMI 3240
  • HCMI 3240

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HCMI 3240 Exam 2


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

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