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.
P
- Professional StandardsTermPractice Standards, Standards of Practice
- The specific expectations a professional body establishes for the conduct and competency of practitioners, covering technical and ethical dimensions.
- Profile InstrumentTermMulti-Domain Instrument, Health-Profile Questionnaire
- A health status questionnaire reporting scores separately for each measured dimension, producing a multidimensional profile rather than a single summary score.
- Profile-Based MeasureTermHealth Profile Instrument, Multi-Dimensional Profile
- A health outcome measure reporting separate scores across multiple dimensions rather than combining them into a single index value.
- Profitability RatioTermProfit Ratio, Margin Ratio
- A financial ratio measuring an organisation's ability to generate profit relative to its revenue, assets, or equity.
- Prognostic BiomarkerTermOutcome-Predicting Marker, Prognosis Marker
- A biological indicator predicting a disease's likely course independent of treatment received, unlike a predictive biomarker indicating response to a particular treatment.
- Prognostic ModelTermPrognostic Index, Outcome Prediction Model
- A statistical or computational model predicting a patient's likely future clinical course, such as disease progression or survival probability.
- Programme BudgetingTermProgram Budgeting, Budget Programming
- A budgeting approach organising health spending around specific programmes or disease areas rather than input categories, allowing cross-programme comparison.
- Programme PerspectiveTermProgram Perspective, Intervention-Programme Viewpoint
- An analytic viewpoint defined by the boundaries of a specific programme, including all costs and outcomes attributable to it regardless of the broader payer.
- Progression-Free SurvivalConceptPFS, Time Without Progression
- Progression-free survival is the time from a prespecified origin, usually randomisation or treatment initiation, until objectively defined disease progression or death from any cause, whichever occurs first.
- Progressive DiseaseTermRECIST Progression, Radiological Progression
- A standardised tumour response classification indicating a significant, predefined increase in target lesion size, or the appearance of new lesions.
- Progressive FinancingTermProgressive Health Financing, Income-Related Financing
- A financing arrangement where contributions rise as a proportion of income for wealthier individuals, so higher earners contribute a larger share.
- Progressive TaxationTermProgressive Tax, Graduated Taxation
- A tax structure in which the rate rises as the taxable amount, such as income, rises, so higher earners pay a larger share.
- PROMTermPatient-Reported Outcome Measure, PRO Measure
- An abbreviation for patient-reported outcome measure, any standardised instrument capturing a patient's own report of health status without clinical interpretation.
- Proof of ConceptTermPoC Study, Concept Validation Study
- An early-stage study demonstrating a treatment's proposed mechanism produces the expected effect in humans, supporting continued investment in its development.
- Propensity ScoreConceptPS, Treatment Probability Score
- The estimated probability that an individual would receive a particular treatment given their observed characteristics, used to balance confounders in observational studies.
- Propensity Score MatchingConceptPSM, Matched-Cohort PS Analysis
- Propensity score matching is an observational study design method that pairs treated and untreated individuals with similar probabilities of treatment given measured baseline characteristics to estimate a treatment contrast in the population retained by the matches.
- Property RightsConceptOwnership Rights, Legal Property Entitlement
- Property rights are entitlements to use a resource, exclude others, take its income and transfer it, as with medicine patents or pharmacy contracts.
- Prophylactic TherapyTermChemoprevention Regimen, Preventive Drug Course
- Treatment given specifically to prevent a disease or complication before any evidence it has begun to develop, such as pre-surgical antibiotics.
- Proportion of Days CoveredConceptPDC, Days-Covered Ratio
- The proportion of days covered (PDC) is the share of days in a period on which pharmacy refill records show a patient had medicine, each day counted once.
- Proportional Hazards AssumptionConceptPH Assumption, Constant Hazard Ratio Assumption
- The Cox model assumption that the hazard ratio between two groups stays constant over follow-up, even as the absolute hazard rate changes.
- Proportional ShortfallConceptRelative Shortfall, Proportional QALY Shortfall
- A measure of disease severity calculated as the proportion, rather than absolute number, of expected quality-adjusted life years lost to a condition.
- Proprietary ModelTermClosed-Source Model, Commercial Model
- A model whose underlying code, structure, or key assumptions are kept confidential by the organisation that developed it, typically for commercial reasons.
- Prospective DataTermForward-Looking Data, Concurrent Data
- Data collected by following participants forward in time from a defined start, gathered as events occur rather than reconstructed later.
- Prospective EvaluationTermForward Evaluation, Concurrent Evaluation
- An economic evaluation in which cost and outcome data are collected forward in time from the study's start, unlike a retrospective evaluation.
- Prospective PaymentTermPPS, Fixed Prospective Rate
- A methodology establishing a fixed reimbursement in advance of care delivery, based on diagnosis or procedure type, rather than actual incurred costs.
- Prospective ReviewTermPre-Service Review, Pre-Care Review
- A utilisation management assessment conducted before a service is delivered, evaluating whether the proposed care meets coverage criteria.
- Prospective Risk AdjustmentConceptForward Risk Adjustment, Predictive Risk Adjustment
- An approach that uses characteristics recorded before a target period to predict that period’s expected health care needs or spending, often to adjust prospective payments across populations with different risk.
- Prostate Cancer ScreeningTermPSA Screening, Prostate Screening
- A public health strategy using PSA blood testing to detect prostate cancer in asymptomatic men, debated given the risk of overdiagnosis.
- Prostate Disease EconomicsTermProstate Cancer Economics, Prostatic Disease Economics
- The application of health economic evaluation to conditions affecting the prostate gland, covering benign enlargement and prostate cancer treatment options.
- Protected Health InformationTermIdentifiable Health Data, Protected Patient Data
- Individually identifiable health information created, received, or maintained by a covered healthcare entity, subject to specific legal use and disclosure protections.
- Protective FactorTermProtective Determinant, Buffering Factor
- A characteristic, behaviour, or exposure associated with a reduced risk of a particular disease or health outcome.
- Protest ResponseTermProtest Bid, Protest Zero
- A response in a stated preference survey where a zero or non-informative valuation reflects objection to the survey scenario rather than genuine indifference.
- ProtocolTermStudy Plan Document, Trial Blueprint
- The formal document describing a trial's rationale, objectives, design, methodology, and analysis plan, guiding its conduct and requiring ethics approval.
- Protocol AdherenceTermProtocol Compliance, On-Protocol Conduct
- The degree to which actual clinical care delivery conforms to an established, standardised treatment protocol.
- Protocol DevelopmentTermProtocol Writing, Protocol Drafting
- The process of creating a formal, detailed plan specifying objectives, methods, and analysis for an assessment or study before conducting it.
- Protocol DeviationTermProtocol Departure, Minor Protocol Breach
- An instance where a trial is conducted in a way departing from its approved protocol, ranging from minor administrative slips to more significant lapses.
- Protocol ViolationTermMajor Protocol Breach, Serious Protocol Departure
- A significant departure from a trial's approved protocol that could compromise participant safety, data integrity, or scientific validity, more serious than a minor deviation.
- Provider GapTermProvider Shortfall, Workforce Gap
- The difference between the number of healthcare providers a population needs and the number actually available to serve it.
- Provider HTA LinkTermHTA-Provider Interface, Assessment-to-Provider Link
- The formal or informal connection between an assessment organisation and healthcare providers responsible for implementing its recommendations in practice.
- Provider NetworkTermCare Network, Contracted Provider Panel
- The specific group of providers and facilities contracted with an insurance plan to deliver care to enrollees at negotiated rates.
- Provider PaymentConceptProvider Reimbursement, Payment Mechanism
- Provider payment is how health purchasers pay doctors and hospitals, for example by budget, salary, fee-for-service, per diem, case (DRG) or capitation.
- Provider Payment ReformTermPayment Reform, Alternative Payment Model
- Efforts to change how providers are reimbursed, moving away from fee-for-service toward models better aligned with high-value, coordinated care.
- Provider ShortageTermWorkforce Shortage, Clinician Scarcity
- A situation where the supply of healthcare providers is insufficient to meet population needs, often more pronounced in certain specialties or regions.
- Provisional ApprovalTermTime-Limited Approval, Interim Authorisation
- A regulatory pathway granting conditional market access based on preliminary evidence, subject to the manufacturer providing further confirmatory data within a set timeframe.
- Proxy Means TestTermPMT, Proxy-Indicator Targeting
- A method of estimating household welfare using easily observable indicators, such as housing or assets, correlated with income rather than direct verification.
- Pseudo-Random NumberConceptPRNG Output, Deterministic Random Draw
- A pseudo-random number is a value produced by a deterministic algorithm whose sequence is designed to exhibit specified statistical properties of random draws.
- PseudonymizationTermPseudonymisation, Key-Coded De-Identification
- A technique replacing identifying information in a dataset with an artificial identifier, so data cannot be linked to an individual without separate stored information.
- Psoriasis EconomicsTermPsoriatic Disease Economics, Psoriasis Cost of Illness
- The application of health economic evaluation to psoriasis, comparing topical treatment, phototherapy, and biologic therapy across differing disease severities.
- Psychiatric EpidemiologyTermMental Health Epidemiology, Psychiatric Disease Epidemiology
- A branch of epidemiology studying the distribution, causes, and course of mental health conditions within populations.
- Psychiatric HospitalTermMental Health Hospital, Psychiatric Inpatient Facility
- A specialist facility dedicated to treating severe mental illness, typically providing inpatient care during an acute psychiatric crisis.