Which of the following classes of diseases are often ignored by major pharmaceutical companies due to less profit? (please choose all that apply) Orphan diseases Respiratory diseases Cancer Tropical diseases
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- what is the relationship between the financial well-being of the industry and availability of healthcare, in consideration of market and demand theories?Perdict how fast the pharmaceutical industry will respond to a common health problem verses an extremely rare disease.3. Given the following table| Life expectancy 20 years 20.5 years 20.6 years 21 years 22 years 22.2 years Treatment Cost of treatment No treatment Drug A Drug B Drug C Drug D Drug E $40,000 $30,000 $50,000 $80,000 $100,000 (a) Calculate the average cost-effectiveness ratio for drug A, B, C, D, E (b) Calculate the ICER between drug B and drug C, and between drug E and drug D. (c) Draw a cost-effectiveness frontier, where Y axis represents effectiveness, X axis represents cost.
- 1. Given the following table *Table attached* (a) Calculate the average cost-effectiveness ratio for drug A, B, C, D, E (b) Calculate the ICER between drug B and drug C, and between drug E and drug D. (c) Draw a cost-effectiveness frontier, where Y-axis represents effectiveness, X-axis represents a cost.Demand studies in health care have provided estimates of both income and price elasticity. Estimates of income elasticity are usually above +1.0. Estimates of price elasticity typically range between -0.1 and -.75 (with hospital services at the lower end and elective services at the upper end). What information do these estimates convey? What does the price elasticity of demand estimates imply for government policymakers, insurance companies, and medical providers' decisions? What does the income elasticity of demand estimates imply for government policymakers, insurance companies, and medical providers' decisions?Identify the NonPrice determinants of supply in the dentistry field. (per factor)
- Should the FDA consider economic factors in new drug approvals?Suppose you are collecting data from a country like Japan where the government sets the price of healthcare. Each prefecture in Japan has a different set of prices (for example, Tokyo has higher prices than rural Hokkaido). Data for 1999 are displayed in the table below. Region Outpatient Visits per Month Price per Visit Tokyo 1.25 25 Hokkaido 1.75 15 (4 points) What is the arc price elasticity of demand for health care consumers in Japan (using only these data)? (4 points) Suppose that incomes are generally much higher in Tokyo than Hokkaido. Is your answer to the last question an overestimate or underestimate of price elasticity? Justify your answer. (c) (4 points) Using your estimated elasticity, what would the demand for health care be if the price in Tokyo were raised to 30 per visit? What would the demand in Hokkaido be if the price were lowered to 5 per visit?13 2013200 P0004 Suppose that a new drug (A) has been approved to treat a life-threatening disease. The demand for that drug is shown on the accompanying graph by demand curve A Prior to approval of this drug, the only treatment for this condition was any one of several nonprescription, or over the counter, pain relievers. The demand for one brand of the several nonprescription pain relievers is also shown on the graph as demand curve B. Price 75 70 65 % 100 200 300 400 500 Quarsity At a price of $15 (the price at which the two demand curves intersect), the price elasticity of demand for the new drug is for the over-the-counter pain rellever the price elasticity of demand