Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
L
- Level of EvidenceTermEvidence Level, Evidence Hierarchy Rank
- A classification ranking a study design's strength based on its susceptibility to bias, placing randomised trials above case reports or opinion.
- Levels of CareTermCare Levels, Tiers of Care
- In health systems, the tiers at which care is organised and accessed, from primary through secondary and tertiary to quaternary care, structuring referral pathways and resource use.
- Leverage PointConceptLeverage Observation, Unusual Predictor Point
- An observation with an unusual combination of predictor values, distinct from the bulk of the data, capable of disproportionately influencing a regression model.
- LicensingTermLicensure, Operating Authorisation
- The formal governmental authorisation required for a healthcare professional or organisation to legally practice within a given jurisdiction.
- Licensing PolicyTermLicensure Policy, Licensing Framework
- Government or professional body policy governing the requirements and process for granting formal authorisation to practice within a healthcare field.
- Life ExpectancyConceptExpected Lifespan, Average Years Remaining
- The expected number of additional years lived from a specified age under a stated set of mortality rates.
- Life TableConceptMortality Table, Actuarial Table
- A structured table that follows a hypothetical population through age or time intervals to summarize deaths, survivors, person-years, and expected remaining life.
- Life Table MethodConceptActuarial Method, Life-Table Method, Actuarial Life-Table, Cohort Life-Table Estimation
- The life table (actuarial) method estimates survival from deaths and withdrawals in fixed intervals, treating withdrawals as at risk for half an interval.
- Life-Sustaining TreatmentTermLife Support, Life-Prolonging Treatment
- Medical interventions, such as mechanical ventilation, used to prolong life without necessarily curing or reversing the underlying condition.
- Lifecycle ManagementTermProduct Life-Cycle Management, Brand Lifecycle Strategy, Lifecycle Plan
- The strategic planning of activities maximising a product's commercial value over its market life, including label expansions and new formulations.
- Lifecycle PricingTermLifecycle Price Management, Life-Cycle Pricing Strategy
- The strategy governing how a treatment's price is managed over its entire market life, from launch through patent expiry and generic competition.
- Lifestyle InterventionTermBehavioural Lifestyle Programme, Lifestyle Modification
- A programme modifying health-related behaviours, such as diet or smoking, used as a standalone preventive strategy or within disease management.
- Lifetime CostTermLifetime Healthcare Cost, Whole-of-Life Cost
- The total expected healthcare expenditure a patient will incur over the remainder of their life, related to a condition and sometimes unrelated future costs.
- Lifetime HorizonTermLifetime Time Horizon, Whole-of-Life Horizon
- A time horizon for an economic evaluation extending over the remaining expected lifespan of the population studied, rather than a shorter follow-up period.
- Lifetime MaximumTermLifetime Limit, Lifetime Benefit Cap
- A cap on the total amount an insurance plan will pay toward covered costs over an individual's entire coverage duration.
- Lifetime PrevalenceTermCumulative Prevalence, Ever-Prevalence
- The proportion of a population that has experienced a condition at any point in life up to assessment, unlike point prevalence.
- Lifetime ValueTermWhole-of-Life Value, Longitudinal Patient Value
- A component of a technology's value reflecting its cumulative benefit over a patient's remaining lifetime, particularly relevant for curative treatments.
- Likelihood RatioConceptLR, Test Result Weight
- A ratio comparing the likelihood of the same observed evidence under two specified conditions or statistical models.
- Likelihood Ratio TestConceptLRT, Deviance Test
- A statistical test comparing the fit of two nested models by their ratio of likelihoods, used to judge whether added parameters improve fit.
- LimitationTermFunding Caveat, Recommendation Restriction
- A specific restriction on a positive funding recommendation, such as limiting coverage to a defined subgroup or requiring prior treatment failure.
- Limited CodeTermPartial Code, Modified Code Status
- A designation specifying only certain, not all, resuscitative measures should be attempted, an intermediate option between full code and DNR.
- Limited Data SetTermLDS, De-Identified Data Set
- A US privacy category of health data with most direct identifiers removed but retaining elements such as dates, requiring a data use agreement.
- Limited Societal PerspectiveTermRestricted Societal Perspective, Modified Societal Perspective
- An analytic viewpoint including healthcare sector costs along with a defined subset of non-healthcare costs, such as informal carer time, short of a full societal view.
- Line ExtensionTermBrand Extension, New-Formulation Variant
- The development of a new version or formulation of an already-approved drug, such as an extended-release form, intended to extend the product's lifecycle.
- Line-Item BudgetTermLine-Item Budgeting, Object-of-Expenditure Budget
- A budget format specifying allocated spending for each individual expense category, such as salaries and supplies, rather than by programme.
- Linear Model HealthTermLinear Predictor Model, Health Linear Model
- A statistical or decision-analytic model in which inputs and outputs are related by a simple linear function, such as a constant per-unit cost.
- Linear PoolConceptLinear Opinion Pool, Weighted Linear Aggregation
- A method combining multiple experts' probability distributions by taking a weighted arithmetic average, producing a single pooled distribution.
- Linear ProgrammingConceptLP, Linear Optimisation Model
- Linear programming identifies the best feasible allocation of limited resources when the objective and constraints can be expressed as linear relationships.
- Linear Programming HealthConceptHealth LP, Health Resource Optimisation
- An optimisation technique identifying the resource allocation that maximises or minimises a linear objective subject to linear constraints, such as a fixed budget.
- Linear RegressionConceptOLS Regression, Least-Squares Regression
- A modelling technique estimating the linear relationship between a continuous outcome and one or more predictors, giving expected change per unit predictor.
- Linked DataTermData Linkage, Linked Datasets
- Information combined from two or more separate data sources, such as clinical records and claims, connected at the individual patient level.
- Lipid ManagementTermCholesterol Management, Dyslipidaemia Management
- The clinical process of assessing and treating blood cholesterol and lipid levels to reduce cardiovascular risk, combining counselling and statin therapy.
- Liquid BiopsyTermCirculating Tumour DNA Test, Blood-Based Biopsy
- A diagnostic technique analysing cancer-related genetic material circulating in a patient's blood, a less invasive alternative to tissue biopsy.
- Liquidity RatioConceptCash Position Ratio, Short-Term Liquidity Measure
- A liquidity ratio is a financial measure comparing an organisation’s readily available or current assets with its near-term obligations to assess its capacity to meet payments as they fall due.
- List PriceTermSticker Price, Catalogue Price
- The publicly stated price a manufacturer offers a drug for sale, before accounting for negotiated discounts or rebates that reduce the price actually paid.
- Listing DecisionTermPositive Listing, Reimbursement Listing
- A formal determination on whether a treatment will be included on a health system's approved formulary, and under what conditions.
- Listwise DeletionConceptCasewise Deletion, Complete-Record Analysis
- A missing data method excluding any observation with a missing value on any variable in an analysis, using only complete cases.
- Literature SearchTermBibliographic Search, Evidence Search
- The systematic process of querying bibliographic databases and other sources to identify relevant studies, using a predefined, documented strategy.
- Liver Disease EconomicsTermHepatic Disease Economics, Hepatic Illness Economics
- The application of health economic evaluation to conditions affecting the liver, spanning viral hepatitis, fatty liver disease, cirrhosis, and liver failure.
- Liver Transplant EconomicsTermHepatic Transplant Economics, Liver Graft Economics
- The application of health economic evaluation to liver transplantation, weighing procedure and lifelong immunosuppression costs against survival benefit for end-stage disease.
- Living GuidelineTermContinuously Updated Guideline, Dynamic Clinical Guideline
- A clinical guideline continually updated as new relevant evidence emerges, rather than published once and left static.
- Living ReviewTermLiving Systematic Review, Continuously Updated Review
- A systematic review continually updated as new relevant evidence becomes available, rather than conducted once and left static.
- Living WillTermEnd-of-Life Directive, Personal Directive
- A type of advance directive documenting an individual's preferences for future medical treatment, particularly life-sustaining interventions, if they cannot communicate.
- Loading DoseTermInitial Dose, Priming Dose
- An initial, often larger than standard, dose given to rapidly reach a therapeutic drug concentration before switching to a smaller maintenance dose.
- Loan FinancingTermHealth Sector Borrowing, Credit-Based Financing
- The use of borrowed funds, repaid over time with interest, to finance healthcare infrastructure or, at household level, medical expenses.
- Local AdaptationTermCountry Adaptation, Local Contextualisation
- The process of modifying evidence or guidance from another setting to reflect specific local clinical practice, resources, and population.
- Local PerspectiveTermSub-National Perspective, Local Health Authority Perspective
- An analytic viewpoint considering costs and outcomes relevant to a specific region or local health authority, rather than a national health system.
- Local Sensitivity AnalysisTermLocal SA, Derivative-Based Sensitivity Analysis
- A sensitivity analysis examining how output changes with small variations around a fixed base case for each parameter, unlike global sensitivity analysis.
- Local Value DossierTermCountry Value Dossier, Local Payer Dossier
- A country-specific document adapting a global health economic evidence package to a national health technology assessment body's requirements and comparators.
- Log-Logistic DistributionConceptFisk Distribution, Loglogistic AFT Model
- A two-parameter continuous distribution for positive event times whose logarithm is logistic; its survival function has a heavy tail, and its hazard may rise and then fall.