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.
O
- Organ ResponseTermOrgan-Level Response, Organ-Specific Improvement
- A biomarker-based outcome measure indicating improvement in a specific organ's function or structure affected by disease, requiring disease-specific validated criteria.
- Organisational EvidenceTermService-Delivery Evidence, System-Impact Evidence
- Information addressing how an assessment decision might affect broader operational aspects of a health system, such as staffing or infrastructure needs.
- Organisational ReviewTermService Impact Review, Delivery-System Review
- An evaluation of the organisational and operational implications of adopting a new technology, examining infrastructure, training, and workflow needs.
- Orphan DiseaseTermRare Condition, Rare Disorder
- A disease affecting a very small number of people, below a specified population threshold, historically receiving limited treatment development investment.
- Orphan DrugTermRare Disease Drug, Orphan Medicine
- A treatment developed specifically for a rare disease below a specified population threshold, eligible for special regulatory designation and incentives.
- Orphan Drug DesignationTermODD, Special Regulatory Status, Orphan Designation
- A regulatory status for a rare disease treatment, giving development incentives such as tax credits, fee waivers, and extended market exclusivity.
- Orphan Drug IncentivesTermRare-Disease Incentives, Orphan Development Incentives
- The regulatory and financial benefits offered to manufacturers developing rare disease treatments, including trial expense tax credits and extended exclusivity.
- Orphan Drug PricingTermOrphan Pricing, Rare-Disease Drug Pricing
- The pricing strategies applied to rare disease treatments, frequently priced far higher per patient than common-condition treatments given the smaller patient population.
- Orphan Drug ThresholdTermOrphan Threshold, Higher Rare-Disease Threshold
- The population size threshold defining a disease as rare or orphan for regulatory designation, varying somewhat across countries and jurisdictions.
- Orphan ExclusivityTermOrphan Market Exclusivity, Orphan Drug Exclusivity
- A market exclusivity period following orphan drug approval during which regulators generally will not approve a similar competing product for the same rare indication.
- Orthogonal DesignConceptOrthogonal Array Design, Uncorrelated Design
- An experimental design for a choice experiment in which attribute levels are varied independently, so each attribute's effect on preference can be separated statistically.
- Orthogonal RotationConceptUncorrelated-Factor Rotation, Varimax-Type Rotation
- A factor analysis technique transforming a solution into a more interpretable structure while constraining the resulting factors to remain uncorrelated.
- OsteoarthritisTermOA, Degenerative Joint Disease
- A degenerative joint condition involving progressive cartilage breakdown, commonly affecting weight-bearing joints such as the knee and hip.
- Out-of-NetworkTermOON, 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 ReferralTermOON 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 CostConceptOOP Cost, Patient Out-of-Pocket Spending
- The amount a patient or household pays directly for health care without third-party reimbursement, including applicable cost sharing and uncovered care.
- Out-of-Pocket MaximumTermOOP 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 ModelTermOOP Health System, Direct-Payment Health System
- A financing arrangement in which patients pay directly for care at the point of service, with little or no pooled prepayment to spread risk.
- Out-of-Pocket PaymentTermOOP 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.
- Out-of-SampleTermHoldout Sample, Test-Set Evaluation
- Describing performance calculated using data not used in a model's original construction, giving a more realistic assessment of likely real-world accuracy.
- Outbreak CostTermCost of Outbreak, Epidemic Cost
- The total economic burden of an infectious disease outbreak, covering direct healthcare costs, public health response spending, and productivity losses.
- Outbreak InvestigationTermEpidemic Investigation, Field Epidemiology Investigation
- A systematic epidemiological process identifying an outbreak's source, mode of transmission, and scope, typically conducted under time pressure.
- Outcome AssessmentTermOutcomes Measurement, Outcome Evaluation
- The measurement and evaluation of health outcomes resulting from care, treated as one of the three linked dimensions of quality alongside structure and process.
- Outcome MeasureConceptOutcome Metric, Endpoint Measure
- A specified instrument, observation or data rule used to quantify a health, care or resource outcome for a defined population and time point.
- Outcome QualityTermOutcome Dimension of Quality, Results Quality
- A healthcare quality dimension focused on actual care results, such as survival or functional status, unlike structural or process quality.
- Outcome Quality IndicatorTermOutcome Indicator, Results Quality Indicator
- A specific, measurable metric assessing actual health results, such as mortality or complications, used to evaluate a provider's clinical performance.
- Outcome ReportingTermResults Reporting, Endpoint Reporting
- The practice of documenting and disclosing a study's results, ideally consistent with what was originally planned before results were known.
- Outcome Reporting BiasTermSelective Outcome Reporting, Outcome Switching
- Bias arising when the outcomes reported in a published study are selected based on the direction or significance of their results, not as originally planned.
- Outcome-Based BudgetTermResults-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.
- OutcomesTerm
- Outcomes is the area of health economics that measures and values the health consequences an economic evaluation counts, from survival and symptoms to quality-adjusted life years.
- Outcomes ResearchConcept
- Outcomes research, often joined with health economics as HEOR, studies the end results of health care, such as survival, function and quality of life.
- Outcomes-Based ContractTermValue-Based Contract, Results-Based Agreement
- A formal agreement in which some or all of a treatment's payment is contingent on it achieving predefined clinical outcomes in practice.
- Outcomes-Based PaymentTermPay-for-Outcomes, Results-Based Payment
- A reimbursement arrangement in which some or all of a manufacturer's payment depends on the treatment achieving a predefined clinical outcome in actual practice.
- Outer LoopTermParameter Loop, First-Level Loop
- The portion of a nested simulation sampling parameter values that remain fixed while a complete inner loop simulation runs beneath it.
- OutlierTermExtreme Value, Anomalous Observation
- An observation differing markedly from other values in a dataset, either from genuine unusual variation or a measurement or entry error.
- Outlier IdentificationTermOutlier Detection, Anomaly Detection
- The process of identifying data points, cases, or providers whose performance substantially deviates from an expected pattern, flagging further investigation.
- Outlier PaymentTermHigh-Cost Case Payment, Outlier Adjustment
- A supplemental payment made in addition to standard prospective payment for a case whose actual cost or stay substantially exceeds expectations.
- Outpatient CostTermAmbulatory Cost, Outpatient Care Cost
- The expense of healthcare services delivered without an overnight hospital stay, such as clinic visits, diagnostic testing, and same-day procedures.
- Outpatient VisitsTermAmbulatory Visits, Clinic Visits
- The total number of patient encounters at a facility without formal hospital admission over a defined period, an ambulatory utilisation measure.
- Output InterfaceTermResults 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.
- Output MaximisationTermOutput Maximization, Output-Oriented Efficiency
- An objective in production theory of achieving the greatest possible output from a given set of inputs.
- Output-Based FinancingTermOutput-Linked Financing, Volume-Based Financing
- A financing approach tying payments to providers or programmes to the volume or type of services delivered, rather than a fixed budget.
- Overall Hospital RatingTermHospital Star Rating, Summary Hospital Score
- A summary star rating assigned to a hospital based on aggregate performance across multiple quality and experience measures.
- Overall SurvivalConceptOS, Total Survival
- Overall survival is the time from a prespecified origin, such as randomization, diagnosis, or treatment initiation, until death from any cause, with participants not known to have died censored at their last date known alive.
- OverconfidenceTermOver-Precision, Excessive Certainty
- A cognitive bias in which individuals, including expert forecasters, express excessive certainty, producing judgements narrower than their actual accuracy would justify.
- OverfittingConceptOver-Fitting, Model Overfit
- A situation in which a model is fit too closely to the noise in its training data, performing poorly on new, independent data.
- Overhead CostTermIndirect Overhead, Overhead Expense
- A cost that supports an organisation's overall operations but cannot be directly attributed to a specific service or department, such as administration.
- Override RateTermAlert Override Frequency, Alert Dismissal Rate
- The proportion of computerised clinical alerts a provider dismisses without following the recommended action, a key metric for alert calibration.
- OverutilizationTermExcess Utilisation, Service Overprovision, Overuse
- The use of healthcare services beyond what is clinically necessary or beneficial, an inefficient use of health system resources.
