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.
V
- Variance-Based SensitivityConceptVariance-Based SA, Sobol Sensitivity Analysis
- Global sensitivity analysis techniques, including Sobol indices, decomposing total output variance into components attributable to each parameter and their interactions.
- Variance-Covariance MatrixConceptCovariance Matrix, Dispersion Matrix
- A symmetric array of variances and pairwise covariances that describes the scale and joint movement of a set of random quantities or estimates.
- VariationConceptCare Differences, Provider Variability
- Differences or spread in a measured characteristic across specified people, groups, services, places or times.
- Variation AnalysisTermVariation Analysis Performance, Practice Variation Analysis
- An examination of differences in healthcare utilisation, cost, or outcomes across providers, regions, or time periods, identifying patterns for investigation.
- Varimax RotationConceptVarimax Method, Variance-Maximising Rotation
- An orthogonal factor rotation maximising the variance of squared loadings within each factor, tending to make each variable load strongly on only one factor.
- Vascular Surgery EconomicsTermEconomics of Vascular Surgery, Vascular Procedure Economics
- The application of health economic evaluation to blood vessel surgery, including aneurysm repair, comparing open surgery against endovascular alternatives.
- Venous ThromboembolismTermVTE, Venous Thrombosis
- A condition covering both deep vein thrombosis and pulmonary embolism, involving venous clot formation and its potential to travel to the lungs.
- Verbal ConsentTermOral Consent, Spoken Consent
- A form of express consent in which a patient orally agrees to treatment, documented in the record, unlike formal written consent.
- Version ControlTermVersioning, Source Control
- A systematic process for tracking changes made to a model's code or structure over time, allowing reversion to earlier versions if needed.
- Vertical EquityConceptVertical Fairness, Unequal-Treatment-of-Unequals Equity
- Vertical equity is the principle that those in greater need should get appropriately more care, and those more able to pay should pay more.
- Vertical InequityTermVertical Unfairness, Vertical Health Inequity
- A violation of the principle that individuals with unequal healthcare needs should be treated appropriately differently, in proportion to their greater need.
- Vertically IntegratedTermVertical Integration, Integrated Delivery
- A structure in which organisations providing different care levels, such as hospitals and insurers, combine under common ownership.
- Very Good ResponseTermVGPR, Very Good Partial Response
- A myeloma response criterion representing a substantial reduction in disease markers, between a standard partial response and a complete response.
- Very Low-Quality EvidenceTermVery Low Certainty Evidence, GRADE Very Low
- Within GRADE, the lowest certainty rating, indicating the true effect is likely substantially different from the reported estimate, from very weak studies.
- Veterans HospitalTermVA Hospital, Veterans Medical Centre
- A hospital operated by a national government for military veterans, typically offering specialised programmes for conditions common in that population.
- Viral Suppression RateTermViral Load Suppression Rate, Undetectable Rate
- A measure of the proportion of people diagnosed with HIV who achieve an undetectable viral load through effective treatment.
- Vision Care CoverageTermEye Care Coverage, Optical Coverage
- A measure of the extent to which a population has access to needed eye care services, including vision correction.
- Vision Care EconomicsTermOptical Economics, Vision Services Economics
- The application of health economic evaluation to eye care services, from routine correction to cataract surgery and chronic eye disease treatment.
- Visit LimitTermVisit Cap, Session Limit
- A restriction on the maximum number of covered visits for a specific service, such as counselling, within a defined period.
- Visual Analogue ScaleConceptVAS, Visual Analog Scale
- A health state valuation method in which respondents mark a perceived health state on a continuous line anchored between worst and best imaginable health.
- Visual FitTermGraphical Fit, Visual Goodness-of-Fit
- A qualitative assessment of how closely a fitted model's predicted curve matches observed data when displayed graphically, alongside formal fit statistics.
- Vital StatisticsTermVital Registration Data, Births and Deaths Data
- Official records of key life events within a population, including births, deaths, marriages, and causes of death, kept by government agencies.
- Vitality MeasureTermEnergy Measure, Vitality Domain
- A subscale within some generic health status instruments capturing a patient's perceived energy level and freedom from fatigue.
- VOI AnalysisConcept
- VOI analysis (value of information analysis) takes a model's PSA through EVPI, EVPPI, EVSI and ENBS in turn to decide if more research is worth its cost.
- Volume CapTermVolume Ceiling, Quantity Cap
- A predetermined upper limit on the total quantity of a treatment a payer will reimburse within a defined period.
- Volume ControlTermVolume Management, Quantity Control
- Mechanisms used to manage or limit the total quantity of healthcare services delivered, such as capacity constraints or global budget caps.
- Volume DiscountTermQuantity Discount, Bulk Discount
- A price reduction offered based on the quantity of a product purchased, with larger volumes typically qualifying for a greater discount.
- Volume GrowthTermActivity Growth, Utilisation Growth
- The component of rising healthcare expenditure attributable to an increase in the number of services delivered, rather than price or intensity.
- Volume RebateTermQuantity Rebate, Volume-Based Rebate
- A rebate payment that increases in proportion to the total quantity of a treatment utilised, tied directly to overall uptake.
- Volume-Based PricingTermVolume Pricing, Quantity-Based Pricing
- A pricing structure where the price paid per unit depends on total quantity purchased or used, typically decreasing as volume increases.
- Voluntary Health InsuranceTermVHI, Discretionary Health Cover
- In health economics, health insurance bought at the discretion of individuals or employers rather than mandated by the state, often supplementing public cover.
- Voting ProcessTermCommittee Voting, Voting Procedure
- The formal mechanism by which appraisal committee members reach and record their collective decision on a technology's funding recommendation.
- VRE EconomicsTermVancomycin-Resistant Enterococcus Economics, VRE Cost-Effectiveness
- The application of health economic evaluation to vancomycin-resistant Enterococcus, a bacterial pathogen resistant to a commonly used antibiotic class.
- Vulnerable PopulationTermAt-Risk Population, Disadvantaged Group
- A group at heightened risk of poor health outcomes or reduced access due to socioeconomic disadvantage, age, disability, or minority status.