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
- Phase I DesignTermPhase 1 Design, First-in-Human Trial Design
- The methodological structure of an early-phase trial, typically small and focused on safety, tolerability, and pharmacokinetics rather than efficacy.
- Phase I TrialTermPhase 1 Trial, First-in-Human Trial
- The first stage of human clinical testing for a new treatment, typically small and assessing safety, tolerability, and pharmacokinetics rather than efficacy.
- Phase II DesignTermPhase 2 Design, Proof-of-Concept Trial Design
- The methodological structure of a mid-stage trial, typically moderate in size, providing preliminary efficacy evidence alongside continued safety assessment.
- Phase II TrialTermPhase 2 Trial, Proof-of-Concept Trial
- A trial after phase I, typically enrolling a moderate number of participants to gather preliminary efficacy evidence while continuing safety monitoring.
- Phase III DesignTermPhase 3 Design, Confirmatory Trial Blueprint
- The methodological structure of a large-scale, definitive trial confirming efficacy and further characterising safety in a broader population, typically supporting approval.
- Phase III TrialTermPhase 3 Trial, Confirmatory Efficacy Trial
- A large-scale trial confirming a treatment's efficacy and further characterising its safety in a broad population, typically the primary basis for approval.
- Phase IV TrialTermPhase 4 Trial, Post-Approval Study
- A trial conducted after a treatment has already reached the market, gathering further safety data or fulfilling a post-marketing regulatory commitment.
- Physical Activity EconomicsTermExercise Economics, PA Economics
- The application of health economic evaluation to interventions promoting physical activity, from individual counselling to community and environmental design policy.
- Physical Activity PolicyTermExercise Policy, PA Policy
- Government or organisational policy aimed at increasing population physical activity, covering community design, school physical education, and workplace incentives.
- Physical FunctionTermPhysical Capability, Bodily Function, Physical Functioning
- A dimension of health-related quality of life capturing an individual's ability to perform physical activities, such as walking or climbing stairs.
- Physical Inactivity RateTermInactivity Prevalence, Sedentary Rate
- A measure of the proportion of a population not meeting recommended physical activity guidelines, a modifiable chronic disease risk factor.
- Physical TherapyTermPhysiotherapy, PT
- A healthcare discipline restoring and promoting physical function and mobility through targeted exercise, manual therapy, and patient education.
- Physical Therapy EconomicsTermPhysiotherapy Economics, PT Economics
- The application of health economic evaluation to physical therapy, which helps patients restore movement and function after injury, surgery, or chronic disease.
- Physician CompareTermDoctor Ratings, Clinician Compare
- A publicly available US government website providing individual physician quality performance information for consumer comparison.
- Physician Hospital OrganizationTermPHO, Joint Provider Venture
- An arrangement joining physicians and a hospital to jointly contract with payers, while participating physicians remain in independent practice.
- Physician QueryTermCoding Query, Documentation Clarification
- A formal request from a documentation specialist to a treating physician seeking clarification on a diagnosis documented in a patient's record.
- Physician ReferralTermDoctor Referral, Provider Referral
- The process by which a physician directs a patient to another provider, typically a specialist, based on clinical need.
- PICO FrameworkTermPICO, Population-Intervention-Comparator-Outcome
- A structured framework specifying the Population, Intervention, Comparator, and Outcome, used to formulate a well-defined clinical or research question.
- Picture Archiving SystemTermPACS, Image Storage System
- A specialist medical imaging technology enabling electronic storage, retrieval, and distribution of images, replacing traditional physical film archives.
- Piecewise ModelConceptPiecewise Exponential Model, Segmented Hazard Model
- A survival model dividing follow-up into distinct segments, each modelled with a separate, often simpler function, letting the hazard shape vary in steps.
- Piggyback EvaluationTermAlongside-Trial Evaluation, Trial-Piggybacked CEA
- An economic evaluation conducted by collecting cost and outcome data alongside an existing clinical trial designed primarily for another purpose.
- Pigouvian SubsidyConceptCorrective Subsidy, Externality Subsidy
- A Pigouvian subsidy is a payment for an activity that benefits others, set equal to its marginal external benefit at the socially efficient level.
- Pigouvian TaxConceptCorrective Tax, Externality Tax
- A Pigouvian tax is a tax on an activity that harms others, set equal to its marginal external cost at the efficient level of that activity.
- Pipeline TechnologyTermPipeline Product, Developmental Technology
- A technology currently under development or in clinical testing, not yet available for routine use, tracked through horizon scanning.
- Pivotal TrialTermRegistration-Enabling Trial, Licensing Trial
- A trial, typically phase III, whose results form the primary basis for a regulatory approval decision, showing significant and meaningful efficacy.
- Placebo ComparatorTermPlacebo Control, Inactive Comparator
- A comparator representing no active treatment, used when no established active treatment exists or the question concerns treatment versus no intervention.
- Placebo EffectTermPlacebo Response, Expectation Effect
- An improvement in a patient's condition resulting from belief in receiving an effective treatment, occurring independently of any direct pharmacological action.
- Plan DesignTermCoverage Design, Benefit Structure Design
- The overall set of decisions determining a plan's covered benefits, cost-sharing structure, provider network, and utilisation management features.
- Plan-Do-Study-ActTermPDSA Cycle, Deming Cycle
- A structured, iterative four-stage cycle involving planning a change, implementing it small-scale, studying results, and acting on what was learned.
- Plastic Surgery EconomicsTermCosmetic Surgery Economics, Aesthetic Surgery Economics
- The application of health economic evaluation to reconstructive and, in some contexts, cosmetic surgery, focused on restoring function after trauma or cancer.
- Platform TrialTermMulti-Arm Multi-Stage Trial, Standing-Platform Study
- A trial design using one continuously operating master protocol to evaluate multiple treatments over time, letting treatments enter or leave by predefined rules.
- Platform Trial DesignTermPlatform Study Design, Perpetual-Trial Design
- The structural and statistical framework underlying a platform trial, including shared infrastructure, a common control arm, and rules for adding or dropping treatments.
- Platinum PlanTermPlatinum Tier, Platinum Metal Level
- A US Affordable Care Act marketplace plan category with the highest standard actuarial value, around ninety percent, giving the highest premiums but lowest cost-sharing.
- Plausibility AssessmentTermPlausibility Check, Sense-Check
- An evaluation of whether a model's assumptions, structure, or results are reasonable given existing clinical and scientific knowledge, even without formal statistical testing.
- Pneumonia EconomicsTermPneumonia Cost of Illness, Lower Respiratory Infection Economics
- The application of health economic evaluation to pneumonia, comparing outpatient antibiotic management against hospitalisation for more severe cases.
- Point Allocation MethodConceptPoint Allocation, Constant Sum Method
- The point allocation method asks respondents to divide a fixed total of points, often 100, among health outcomes or criteria to show their relative value.
- Point EstimateConceptSingle-Value Estimate, Best-Guess Estimate
- A point estimate is a single numerical value calculated from observed data or a fitted model to represent a specified unknown quantity on a stated scale.
- Point of Service PlanTermPOS Plan, Point-of-Service Insurance
- A managed care plan combining HMO and PPO features, requiring a primary care provider while still allowing costlier out-of-network care.
- Point PrevalenceConceptSnapshot Prevalence, Prevalence at a Single Time
- The proportion of a population found to have a particular condition at a single specific point in time, unlike period prevalence or incidence.
- Point-of-Care TrialTermPOC Trial, Bedside Randomised Trial
- A trial embedded directly within routine clinical care, using existing workflows and electronic records to randomise patients and collect outcome data.
- Poisson DistributionConceptPoisson Model, Count Distribution
- A discrete probability distribution describing the number of times an event occurs within a fixed interval, assuming independence and a constant average rate.
- Poisson RegressionConceptCount Regression, Log-Linear Count Model
- A modelling technique analysing count outcome data, such as clinical events per patient, based on the assumption that outcomes follow a Poisson distribution.
- Policy EvaluationTermPolicy Appraisal, Policy Assessment
- A structured assessment of whether an implemented policy achieved its intended objectives, comparing observed outcomes against what would otherwise have occurred.
- Policy HTA UnitTermGovernment HTA Unit, Ministry-Level HTA Unit
- A function translating individual technology assessment findings into broader health policy, such as national treatment guidelines or resource allocation frameworks.
- Policy ImplementationTermPolicy Rollout, Policy Delivery
- The process of putting an adopted policy into actual practice, encompassing the administrative, regulatory, and operational steps required.
- Policy Option AssessmentTermOption Appraisal, Policy Alternatives Assessment
- The systematic evaluation of alternative approaches to a health policy problem, comparing options across criteria such as cost and equity.
- Policy Option IdentificationTermOption Generation, Policy Alternatives Identification
- The process of generating a comprehensive set of potential approaches to a policy problem before proceeding to detailed comparative evaluation.
- Policy PerspectiveTermPolicymaker Viewpoint, Decision-Maker Standpoint
- An analytic viewpoint defined by the interests of a policy-making body responsible for a broad set of programmes, rather than a single payer.
- Policy Problem DefinitionTermProblem Framing, Policy Problem Framing
- The process of clearly articulating the specific issue a policy is intended to address, including its scope, causes, and affected population.
- Policy RecommendationTermPolicy Advice, Recommended Option
- A formal proposal advocating a specific course of action to address a defined policy problem, following systematic analysis of alternatives.