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.
S
- Statistical MethodStatistical Technique, Quantitative Analysis Technique
- In health economics, a formal procedure for analysing data to estimate effects, quantify uncertainty and test hypotheses, spanning parametric, non-parametric and semi-parametric approaches.
T
- Taylor Series MethodDelta Method Approximation, First-Order Approximation
- A local approximation that uses derivatives around a reference point to estimate a function and propagate input uncertainty into the variance of a derived result.
V
- Value of InformationVOI, Information Value
- Value of information, or VOI, quantifies the expected benefit of reducing uncertainty before or after making a health decision.
- Variability AnalysisVariability Assessment, Variability Decomposition
- An examination of how outcomes differ across individual patients due to genuine heterogeneity, unlike parameter uncertainty concerning imprecise population-level averages.