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
- Pre-Existing ConditionTermPrior Condition, Existing Illness
- A health condition an individual had before applying for a new insurance policy, historically used by some insurers to deny or limit coverage.
- Pre-IND MeetingTermPre-IND Consultation, Pre-Investigational Meeting
- A formal meeting between a developer and regulators before submitting an Investigational New Drug application, seeking feedback on the proposed development plan.
- Pre-Specified AnalysisTermPre-Planned Analysis, A-Priori Analysis
- A statistical analysis formally planned and documented, typically within a study protocol, before the study's data were collected or examined.
- Pre-Test ProbabilityConceptPrior Diagnostic Probability, Baseline Risk of Condition
- The estimated probability that a patient has a condition before a diagnostic test result is known, based on prevalence and clinical presentation.
- PrecisionTermReproducibility of Measurement, Measurement Consistency
- A measure of how closely repeated statistical estimates cluster together, with a more precise estimate having a narrower confidence interval.
- Precision AssessmentTermPrecision Appraisal, Imprecision Rating
- An evaluation of an effect estimate's statistical precision, typically judged by the width of its confidence interval, wider meaning greater uncertainty.
- Precision MedicineConceptIndividualised Medicine, Precision Health
- An approach to prevention, diagnosis or treatment that uses relevant individual or disease characteristics to select a more appropriate care strategy.
- Precision Oncology EconomicsTermPrecision Cancer Economics, Genomic Oncology Economics
- The application of health economic evaluation to cancer treatments tailored to a tumour's genetic characteristics, jointly evaluating the treatment and companion diagnostic.
- Precision TherapyTermMolecularly Targeted Treatment, Biomarker-Directed Therapy
- A treatment targeting a specific molecular or genetic feature of a patient's disease, closely related to personalised therapy but emphasising the biological targeting mechanism.
- Preclinical DevelopmentTermNonclinical Development, Pre-Human Development
- The drug development stage before human trials begin, covering laboratory and animal studies characterising a compound's biological activity, pharmacokinetics, and safety.
- Preclinical TestingTermNonclinical Testing, In-Vitro and Animal Testing
- Laboratory and animal studies characterising a drug candidate's biological activity, pharmacokinetics, and toxicity before it is first given to humans.
- Predicted CostTermForecast Cost, Modelled Cost
- An estimate of expected future healthcare expenditure generated using a risk adjustment model incorporating demographics, diagnoses, and prior utilisation.
- Prediction ErrorTermForecast Error, Predictive Inaccuracy
- The difference between a value predicted by a statistical model and the value that is actually observed.
- Prediction IntervalTermForecast Interval, Predictive Range
- A range calculated to contain a future individual observation with a specified confidence, unlike a confidence interval describing a population parameter.
- Prediction MethodsTermPredictive Techniques, Forecasting Methods
- Statistical and machine learning techniques used to forecast future outcomes or classify individuals based on a set of observed characteristics.
- Predictive AccuracyTermModel Accuracy, Predictive Performance
- The degree to which a model's forecasts or classifications correspond to actual observed outcomes when tested against real data.
- Predictive AnalyticsTermPredictive Modelling Analytics, Forecast Analytics
- The use of statistical and machine learning techniques to analyse current and historical data to forecast future outcomes.
- Predictive Analytics HealthTermHealthcare Predictive Analytics, Clinical Forecast Analytics
- The specific application of predictive analytics to healthcare data, forecasting clinical outcomes and identifying high-risk patients for proactive care management.
- Predictive BiomarkerTermTreatment-Response Biomarker, Response-Predicting Marker
- A biological indicator identifying which patients are likely to respond favourably or unfavourably to a specific treatment, unlike a prognostic biomarker.
- Predictive ValidityTermPredictive Criterion Validity, Forecast Validity
- The extent to which a model's forecasts about future events are later confirmed by observed real-world data.
- Predictive Validity AssessmentTermPredictive Validation Check, Criterion-Validity Testing
- The formal process of comparing a model's earlier forecasts against outcomes subsequently observed once real-world data became available.
- Preference WeightTermPreference Coefficient, Valuation Weight
- A numerical value reflecting the relative desirability a population or individual assigns to a particular health state or outcome.
- Preference-Based MeasureTermPreference-Weighted Measure, Preference-Elicited Instrument
- A health status instrument whose scoring derives from a formal preference elicitation exercise, so its scores can be used directly as utility values for QALYs.
- Preferred DrugTermFirst-Line Formulary Choice, Favoured Formulary Agent
- A medication assigned to a lower-cost formulary tier, typically with lower patient cost-sharing, to encourage its use over costlier alternatives.
- Preferred Provider OrganizationTermPPO, Preferred-Network Plan
- A managed care plan offering a discounted contracted network while still allowing out-of-network care at higher cost-sharing, without requiring referrals.
- Preferred TierTermLow-Copay Tier, Favoured Cost Tier
- A formulary or network category with more favourable, typically lower, cost-sharing in a tiered design, encouraging use of preferred options.
- Pregnant Women ResearchTermMaternal Research Inclusion, Research in Pregnancy
- Research involving pregnant women, subject to additional ethical considerations given the potential for risks or benefits to affect both mother and fetus.
- Prenatal ScreeningTermAntenatal Screening, Foetal Screening
- Testing conducted during pregnancy to assess the risk of genetic conditions or birth defects, informing further diagnostic testing or pregnancy management.
- PrepaymentTermAdvance Payment, Prepaid Financing
- A financing mechanism in which individuals contribute funds toward future healthcare costs before they are incurred, through taxation or premiums.
- Prescription Drug MonitoringTermPDMP, Controlled-Substance Database
- A state-level electronic database tracking the prescribing and dispensing of controlled substances, helping identify and prevent misuse and diversion.
- Prescriptive AnalyticsTermOptimisation Analytics, Action-Recommending Analytics
- An advanced analysis form going beyond predicting outcomes to recommend specific actions intended to achieve a desired result.
- Present BiasTermPresent Bias Concept, Current-Moment Bias
- The tendency to place disproportionate weight on immediate rewards or costs relative to future ones, beyond what constant discounting predicts.
- Present ValueConceptDiscounted Value, Present Worth
- The current worth of a future sum of money or cash flow stream, found by discounting each future amount using a specified discount rate.
- PresenteeismTermReduced On-Job Productivity, Working While Unwell
- Reduced productivity from an employee who is physically present at work but performing below their normal capacity due to illness or injury.
- Pressure Ulcer RateTermBedsore Rate, Decubitus Ulcer Rate
- A measure of how frequently hospitalised patients develop pressure ulcers, or bedsores, a nursing care quality and prevention indicator.
- PrevalenceConceptExisting-Case Frequency, Case Proportion
- The total proportion of a population with a particular condition at a given time, covering both new and pre-existing cases.
- Prevalence DifferenceTermAbsolute Prevalence Gap, Prevalence Disparity
- The absolute difference in the prevalence of a condition between two groups, giving a direct measure of disparity in disease burden.
- Prevalence RatioConceptRelative Prevalence, Comparative Prevalence
- The prevalence ratio (PR) is the prevalence of a condition in an exposed group divided by that in an unexposed group, used to compare disease burden.
- Prevented FractionTermPreventable Fraction, PF
- The proportion of disease cases avoided in a population due to a protective exposure or intervention, the counterpart to the attributable fraction.
- Prevention EconomicsTermEconomics of Prevention, Preventive Care Economics
- The broad application of health economic evaluation to interventions preventing disease onset or progression, spanning primary and secondary prevention.
- Prevention PolicyTermPreventive Health Policy, Health-Protection Policy
- Government or organisational policy specifically aimed at preventing disease onset or progression, spanning immunisation, screening, and health promotion.
- Prevention Quality IndicatorTermPQI, Preventable-Admission Indicator
- A standardised measure assessing hospital admission rates for conditions considered preventable with adequate primary care access.
- Preventive InterventionTermPrevention Programme, Preventive Measure
- Any programme or treatment intended to prevent disease onset or progression, spanning vaccination, screening, and lifestyle modification.
- Preventive TherapyTermChemoprevention, Prophylactic Regimen
- Treatment given to individuals without clinically apparent disease but at elevated risk, intended to prevent or delay the disease's onset.
- Preventive TreatmentTermPreventive Care, Prophylaxis Treatment
- Treatment given to reduce the risk of a disease developing, encompassing both medications and procedures for individuals without clinically apparent disease.
- PriceTermMarket Rate, Selling Amount
- The amount of money required to purchase a good or service in a market transaction.