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.
C
- Country-Specific Value SetNational Value Set, Country Tariff
- A set of utility weights derived from a representative sample of a particular country's population, used to convert instrument responses into a utility score.
Q
- Quality-Adjusted Life Year (QALY)QALY, Quality-Adjusted Life-Year
- A quality-adjusted life year combines time lived with preference-based health-state values so that one year at utility 1 represents one QALY, while periods in poorer health contribute proportionately less—or negatively where the applicable value set permits states valued below dead.
V
- Value SetUtility Tariff, Preference Tariff
- The complete collection of utility weights from a population valuation study, used to convert every combination of instrument responses into a utility score.
- Value Set DevelopmentTariff Development, Value Set Construction
- The process of designing, conducting, and analysing a population valuation study to produce a scoring algorithm for a health status instrument.