
(a)
The key screening strategies and the reason for them to be important than others.
(a)

Explanation of Solution
As per the table, option 1, 3 and 6 could be considered as dominant options. In option 1 it is true that there is an incremental cost. Nevertheless, its QALY value is positive. Hence it could be considered as dominant. Further, in option 3, a positive QALY has been derived with an incremental cost that is considerably low. In option 6, both the tests could be done. However, the incremental cost involved does not seem alarming. Its QALY value is also a positive figure.
Introduction:
When selecting between various treatment options, it is important to look into various measures that make them dominant. In this case, the cost of the treatment as well as the QALY value has been looked into. QALY or Quality Adjusted Life Year is a weighted average measure that takes into account both the qualitative and quantitative aspects of the burden of a disease. This is helpful in determining the level of medical intervention needed.
(b)
The incremental cost values, incremental QALY values and incremental cost effective ratios for the treatment options that seem to be economically rationale and state why they are so.
(b)

Explanation of Solution
As per the table, option 3 and 6 seems to be economically rationale. Option 3 has an incremental value that is considerably low, together with a positive QALY value. Option 6 too consists of a somewhat lower incremental cost with a positive QALY value. Hence both these options could be considered as economically rational.
Introduction:
In determining the economically rational treatment options out of a list, it is important to consider measures such as the incremental cost, incremental QALY and the incremental cost effectiveness ratio. An economically rational option would ideally have a lower incremental cost and a positive QALY value.
(c)
The best strategy to be recommended from a standpoint of public health.
(c)

Explanation of Solution
As per the table, option 6 could be considered the best strategy to be recommended from a public health standpoint. The option included both the tests Pap and HPV, with a reasonable incremental cost as well as a positive QALY value. Hence it could be recommended as the best strategy.
Introduction:
When recommending health strategies from the perspective of public health, it is important that they address to the needs of a wider population, at a lower cost. In this regard, out of the strategy options given, the one with a considerably low incremental cost together with a positive QALY value must be selected.
Want to see more full solutions like this?
- What are the 4 main parts of circular diagram?arrow_forwardWhat is absolute advantage?arrow_forwardGood Day, Kindly requesting assistance with this also Briefly explain how elasticity affects government health policies in the following cases:● Taxes on unhealthy products (cigarettes, alcohol, sugary drinks)● Subsidizing Preventive Care (e.g., vaccines, screenings)● Drug Price Controls & Generic Substitutions● Co-Payments & Insurance Designarrow_forward
- Good Day, Kindly assist with the following query: ● Cost–benefit Analysis● Cost-effectiveness analysis● Cost–utility analysis● Cost analysis or Cost Minimization Analysis For each of the following health policy questions listed below, identify and briefly explain which type of economic evaluation in question above would be most appropriate to use: ● The Ministry of Finance wants to know whether it is worth investing further resources into malaria control or building new primary schools? ● The Ministry of Health wants to compare the costs of receiving intravenous antibiotics in a hospital with receiving the same antibiotics (at the same doses) at home via a home health care service. ● The Ministry of Health wants to compare the costs and outcomes of two interventions for the treatment of early stage breast cancer: mastectomy without breast reconstruction compared to breast conserving surgery and radiotherapy (breast conservation). ● A malaria control programme wants to use economic…arrow_forwardSubstitute X=20. Can you show me how to do question 1 pleasearrow_forwardBlue Air Inc., has net sales of $740,000 and accounts receivables of $163,000. What is the firm's accounts receivables turnover?arrow_forward
- Please answer questions D-H, I have already answered A , B,C but it may help you to still solve them yourself. Thank you!arrow_forward2. A firm’s production function is given by:Q = 10KLThe unit capital and labour costs are 2 and 1 pounds respectively. The firm is contracted to produce2000 units.(a) Write out the optimisation problem of the firm. (b) Express this problem using a Lagrangian function. (c) Find values of K and L which fulfil the contract with minimal cost to the firm. (d) Calculate the total cost to the firm.arrow_forward3. Consider the following estimated regression equation, estimated using a sample of firms, where RDis total firm spending on research and development in USD ($), Revenue is total firm revenuein USD ($), and W ages is the firms’ total spending on wages in USD ($) (standard errors inparentheses):RDd = 1000(600)+ 0.5(0.1)Revenue + 1.5(0.5)W ages,(a) Interpret the coefficients on each of the explanatory variables. (b) Which of the three coefficients are statistically significant at the 5% level of significance? Howdo you know? A researcher runs a two-sided statistical test of the null hypothesis that both the coefficients onthe explanatory variables above are jointly equal to 0.25 (mathematically, that β1 = β2 = 0.25),and reports a p-value of 0.045.(c) What does this p-value mean for the outcome of the test? (d) What would an appropriate two-sided alternative hypothesis look like?arrow_forward
- Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning




