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.

501–550 of 666 terms matching “Cost”

M

Money-Back GuaranteeRefund Guarantee, Money-Back Scheme
An outcomes-based agreement in which a manufacturer refunds some or all of a treatment's cost if the patient does not achieve a predefined outcome.
Monopoly PricingMonopolist Pricing, Single-Seller Pricing
The pricing behaviour of a firm with monopoly power, setting price above marginal cost to maximise profit and reduce quantity supplied.
Moral HazardHidden Action, Post-Contract Opportunism
Moral hazard occurs when protection from the consequences of an action changes a person’s behaviour because some resulting costs or risks are borne by another party.
Multi-Objective OptimisationMOO, Pareto Optimisation
An optimisation approach used when a decision involves competing objectives, such as maximising benefit while minimising cost, producing a set of trade-off solutions.
Multi-Sectoral AnalysisCross-Sectoral Analysis, Intersectoral Evaluation
An economic evaluation considering costs and benefits arising across more than one sector, such as health, education, and social care.
Multi-Way Threshold AnalysisMultiway Threshold, Joint Threshold Analysis
A sensitivity analysis identifying the combinations of two or more parameter values at which a model's conclusion, such as cost-effectiveness, would change.
Myocardial Infarction EconomicsHeart Attack Economics, AMI Economics
The application of health economic evaluation to heart attack diagnosis and treatment, covering emergency reperfusion therapy, medication, and rehabilitation costs.

N

National PerspectiveCountry-Level Perspective, National-Level Perspective
An analytic viewpoint considering costs and outcomes relevant to an entire country's health system, rather than a single institution, region, or payer.
Negative RecommendationDo-Not-Reimburse Recommendation, Rejection
A body's formal decision not to recommend a technology for funding, based on unacceptable cost-effectiveness at the reviewed price.
Net Benefit ApproachNB Framework, Money-Metric Evaluation
A framework for economic evaluation that converts health outcomes into money at a set value per unit of effect, then subtracts cost.
Net Health BenefitNHB, Incremental Health Benefit
A summary measure expressing an intervention's value in health units, converting incremental cost into health forgone and subtracting it from health gained.
Net Monetary BenefitNMB, Money-Valued Benefit
A summary measure expressing an intervention's value in money, converting its incremental health effect into cash at a set threshold and subtracting incremental cost.
Network DesignNetwork Configuration, Plan Network Build
The process of selecting and contracting with providers for a plan's network, balancing cost, quality, and geographic coverage.
Network ReferralIn-Plan Referral, Directed Referral
A referral from a provider to another within their contracted insurance network, generally resulting in lower patient cost-sharing.
Non-Dominated AlternativeEfficient Option, Frontier Option
An intervention on the cost-effectiveness frontier, meaning no other option or combination of options is both less costly and more effective.
Non-Preferred DrugNon-Formulary Drug, Excluded Drug
A medication assigned to a higher-cost formulary tier, typically with greater patient cost-sharing than a preferred alternative, to encourage lower-cost use.
Northwest QuadrantNW Quadrant, Dominated Quadrant
The region of the cost-effectiveness plane where a new intervention is both more costly and less effective than its comparator.

O

Obsolete TechnologyOutdated Technology, Superseded Technology
A technology superseded by a more effective, safer, or more cost-effective alternative, such that its continued routine use is inappropriate.
Oncology Value FrameworkASCO Value Framework, ESMO-MCBS
A structured tool from professional oncology societies combining clinical benefit, toxicity, and cost into a single comparative score for assessing treatment value.
Optimal Sample SizeENBS-Based Sample Size, Efficient Sample Size Choice
A study sample size selected to meet a stated design objective, such as adequate power or precision, or to maximise the expected value of information after accounting for research costs and decision delays.
Optimized RecommendationOptimised Recommendation, Restricted Positive Recommendation
A decision recommending a technology for funding only within a narrower patient subgroup than its full licensed population, typically the most cost-effective subgroup.
Out-of-NetworkOON, Out-of-Plan Provider
A designation for providers without a contractual agreement with a specific plan, typically resulting in higher cost-sharing or no coverage.
Out-of-Network ReferralOON Referral, External Referral
A referral to a provider without a contractual relationship with the patient's insurance plan, typically resulting in higher cost-sharing or no coverage.
Out-of-Pocket MaximumOOP Maximum, Maximum Out-of-Pocket
The highest total amount an insured person will pay for covered costs within a period, beyond which the plan covers everything further.
Out-of-Pocket PaymentOOP Payment, Direct Patient Payment
A general term for healthcare spending paid directly by a patient, rather than through insurance, covering cost-sharing and uncovered services.
Outcome StructureOutcome Model Structure, Results-Pathway Architecture
The way a decision-analytic model links its outcomes, including how intermediate clinical events translate into measures such as QALYs and total cost.
Outcome-Based BudgetResults-Based Budget, Outcome-Linked Budget
A budgeting approach that allocates funds according to expected or achieved health outcomes rather than historical spending or input costs.
Output InterfaceResults Interface, Model Results Panel
The component of a health economic model that presents its results, such as cost-effectiveness ratios, in a format accessible to users.

P

Parameter InputModel Input Value, Entered Value
A specific numerical value or probability distribution entered into a decision-analytic model to represent a required clinical, cost, or utility quantity.
Partial Economic EvaluationPartial Evaluation, Incomplete Economic Evaluation
A study examining either the costs or the outcomes of an intervention, or both without comparison to an alternative, short of a full economic evaluation.
Patient Access SchemePAS, Confidential Access Scheme
A managed entry agreement, most associated with the UK, offering a discount to improve a treatment's cost-effectiveness enough to secure reimbursement.
Patient Family PerspectivePatient-and-Family Perspective, Carer Perspective
An analytic viewpoint including costs and outcomes experienced by a patient's family, such as informal caregiving time and lost income, alongside the patient's own.
Patient PerspectivePatient Viewpoint, Patient-Level Perspective
An analytic viewpoint including only costs and outcomes directly experienced by the patient, such as out-of-pocket expenses and personal time costs.
Payback PeriodRecoupment Period, Break-Even Time
The length of time required for the cumulative cash inflows from an investment to equal its initial cost.
Payer PerspectivePayer Viewpoint, Insurer Perspective
An analytic viewpoint including only costs and outcomes relevant to a specific healthcare payer, such as an insurer or government health programme.
Payer Value MessagePayer-Focused Value Message, Reimbursement Value Story
A concise statement summarising a technology's value specifically framed to address payer priorities, such as budget impact and cost-effectiveness.
Payment Adjustment FactorBase-Rate Multiplier, Rate Adjuster
A numerical multiplier applied to a base payment rate to account for specific circumstances affecting the cost of care, such as geographic wage differences.
Payment Rate SettingPayment Rate Determination, Tariff Setting
The process by which a payer determines reimbursement for a service or payment category, incorporating resource cost, market rates, and policy goals.
PayoffGame Reward, Strategy Outcome
The value, such as cost, outcome, or utility, associated with a particular pathway or outcome within a decision-analytic or game-theoretic model.
Pharmaceutical EconomicsPharma Economics, Medicines Economics
The broad application of economic analysis to the pharmaceutical industry, covering drug development costs, pricing strategy, market competition, and individual drug evaluation.
Pharmacoeconomic ModelPE Model, Pharmacoeconomic Evaluation Model
A decision-analytic model built specifically to evaluate the cost and outcomes of pharmaceutical treatments, typically supporting pricing and reimbursement decisions.
Pharmacy-Based Risk ScorePharmacy Risk Score, Rx-Based Risk Adjustment
A numerical estimate of expected future healthcare costs calculated using prescription drug utilisation patterns as an indicator of health status.
Piggyback EvaluationAlongside-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 TaxCorrective Tax, Externality Tax
A tax on an activity that generates negative externalities, set in principle equal to the external cost not borne by the private decision-maker.
Plan DesignCoverage Design, Benefit Structure Design
The overall set of decisions determining a plan's covered benefits, cost-sharing structure, provider network, and utilisation management features.
Platinum PlanPlatinum 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.
Point of Service PlanPOS 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.
Policy Option AssessmentOption Appraisal, Policy Alternatives Assessment
The systematic evaluation of alternative approaches to a health policy problem, comparing options across criteria such as cost and equity.
Positive RecommendationFavourable Recommendation, Recommend-For Decision
A body's formal decision to recommend a technology for funding, based on acceptable cost-effectiveness at the reviewed price.
Practice Expense RVUPE RVU, Overhead Relative Value Unit
A US Medicare relative value component reflecting the overhead costs of operating a practice, such as staff and office space, attributable to a service.