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.
P
- Patient SubmissionTermPatient Organisation Submission, Patient Group Submission
- A formal written contribution from a patient or patient organisation describing a condition's impact from the patient perspective.
- Patient Time CostConceptCost of Patient Time, Value of Patient Time
- Patient time cost is the value of the hours patients spend travelling to, waiting for and receiving health care, often valued at a wage rate.
- Patient Value MessageTermPatient-Focused Value Message, Patient Value Story
- A concise statement summarising a technology's key benefits from patients' own perspective, addressing quality of life and treatment burden.
- Patient VolumeTermCase Volume, Caseload
- The total number of patients treated by a provider over a defined period, used as a measure of clinical activity and, at times, expertise.
- Patient-Centred CareTermPerson-Centred Care, Patient-Focused Care, Patient-Centred Model, Person-Centred Model, Patient-Focused Model
- A care model respectful of and responsive to individual patient preferences, needs, and values, guiding all clinical decisions accordingly.
- Patient-Centred OutcomeTermPatient-Important Outcome, Patient-Relevant Outcome
- A health outcome measure specifically identified as important to patients themselves, rather than selected primarily for clinical or biomarker significance.
- Patient-Level CovariateTermIndividual Covariate, Patient Characteristic
- A characteristic recorded for individual patients, such as age or baseline severity, examined for its effect on treatment response using patient-level data.
- Patient-Reported OutcomeConceptPRO, Self-Reported Outcome
- Any report of a patient's health status that comes directly from the patient without clinical interpretation, from symptom ratings to full quality of life instruments.
- Pattern Mixture ModelConceptPMM, Pattern-Mixture Approach
- A missing data modelling approach stratifying analysis by the observed pattern of missingness, rather than assuming one model applies to everyone.
- Pay-for-PerformanceTermP4P, Performance-Related Pay
- A methodology linking a portion of provider reimbursement directly to measured performance on quality, efficiency, or outcome metrics, rather than volume alone.
- Payback PeriodTermRecoupment Period, Break-Even Time
- The length of time required for the cumulative cash inflows from an investment to equal its initial cost.
- Payer HTA LinkTermHTA-Payer Interface, Assessment-to-Coverage Link
- The formal or informal connection between an assessment organisation and the payers responsible for implementing its funding recommendations.
- Payer MixTermPayer Composition, Funding Mix
- The distribution of a provider's patients across payer types, such as private insurance and public programmes, affecting overall revenue.
- Payer PerspectiveTermPayer 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 MessageTermPayer-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 FactorTermBase-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 AmountTermPayment Level, Reimbursement Amount
- The specific figure a payer reimburses a provider for a service or episode, determined according to the applicable payment methodology.
- Payment by ResultsTermPbR, Tariff-Based Payment
- Payment by Results was England's tariff-based system for paying NHS hospitals for activity, replaced by the National Tariff Payment System in 2014/15.
- Payment PolicyTermReimbursement Policy, Provider Reimbursement Policy
- The overall set of rules a payer establishes governing how providers will be reimbursed for the services they deliver.
- Payment Rate SettingTermPayment Rate Determination, Tariff Setting, Fee Schedule Development, Fee Schedule Setting, Rate Development
- The process by which a payer determines reimbursement for a service or payment category, incorporating resource cost, market rates, and policy goals.
- PayoffTermGame 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.
- PBACTermPharmaceutical Benefits Advisory Committee, Australian HTA Committee
- The Pharmaceutical Benefits Advisory Committee, Australia's body recommending which medicines should be subsidised under the Pharmaceutical Benefits Scheme.
- PBMATermProgramme Budgeting and Marginal Analysis, Marginal Reallocation
- An abbreviation for programme budgeting and marginal analysis, a priority-setting method reallocating resources from lower-value to higher-value activities within a fixed budget.
- Pearson CorrelationConceptPearson Product-Moment, Linear Correlation Coefficient
- A measure quantifying the strength and direction of the linear relationship between two continuous variables, ranging from negative one to positive one.
- PedsQL 4.0 Generic Core ScalesConceptPedsQL, Pediatric Quality of Life Inventory, Paediatric Quality of Life Inventory, PedsQL Generic Core Scales
- PedsQL 4.0 Generic Core Scales are a 23-item paediatric health-related quality of life measure, scored 0 to 100 and often mapped to utilities for QALYs.
- Peer ReviewTermRefereeing
- A process in which providers evaluate the quality of care delivered by professional colleagues, for improvement, credentialing, or disciplinary purposes.
- Peer Review HTATermHTA Peer Review, Scientific Review of HTA
- Having independent experts critically evaluate an assessment's methods, analysis, and conclusions before it is finalised or published.
- PenaltyTermFinancial Sanction, Payment Deduction
- A financial reduction applied to a provider's payment, typically for failing to meet a specific quality, reporting, or compliance requirement.
- Per Capita Health SpendingTermHealth Spending per Capita, Per-Head Health Spending
- A measure of average healthcare expenditure found by dividing total health spending by population size, standardising for comparison across regions.
- Per DiemTermDaily Payment, Per-Day Payment
- A methodology reimbursing a provider a fixed amount for each day of care, regardless of specific services delivered that day.
- Per Diem RateTermDaily Rate, Per-Day Rate
- The specific fixed sum paid to a provider for each day of care under a per diem payment arrangement.
- Per Member Per MonthTermPMPM, Capitated Monthly Payment
- A standard unit expressing a capitated payment as the fixed monthly amount received per enrolled member, regardless of services actually used.
- Per-Protocol AnalysisTermPP Analysis, On-Treatment Analysis
- An analysis including only trial participants who received and adhered to their assigned treatment as specified, excluding those with major protocol deviations.
- Per-Protocol PopulationTermPP Population, Compliant Population
- The subset of trial participants who completed the study while closely adhering to the protocol, used as the analysis population for a per-protocol analysis.
- Perceived HealthTermGeneral Health Perception
- A patient's own subjective rating of overall health status, shown to independently predict future health outcomes and healthcare use beyond clinical measures alone.
- PercentileTermCentile, Distribution Position
- A descriptive statistic indicating the value below which a specified percentage of observations in a dataset fall.
- Percutaneous Coronary InterventionTermPCI, Coronary Angioplasty
- A minimally invasive, catheter-based procedure opening narrowed coronary arteries, typically involving balloon angioplasty and stent placement.
- Perfect AgentTermPerfect Agency, Ideal Agent
- A theoretical benchmark in which an agent, such as a physician, decides exactly as the principal would if they held the same information.
- Performance BiasConcept
- Performance bias is systematic error from differences in care, co-interventions or behaviour between trial arms, often because people know the allocation.
- Performance BudgetTermPerformance-Based Budget, Results-Linked Budget
- A budgeting approach that allocates funds based on the activities and performance levels an organisation intends to achieve.
- Performance DashboardTermMetrics Dashboard, Performance Scorecard
- A visual display presenting a curated set of key performance metrics in a single, easily accessible view for quick monitoring.
- Performance MeasureTermPerformance Metric, Performance Indicator
- A specific, quantifiable metric assessing how well a provider or system is achieving its objectives, spanning structural, process, and outcome domains.
- Performance MeasurementTermPerformance Assessment, Performance Monitoring
- The systematic measurement of how well a provider or health system delivers care against defined standards, using indicators that can be tracked over time.
- Performance OutcomeTermPerfO, Performance-Based Outcome
- A clinical outcome based on a standardised task performed by a patient, such as a timed walk test, unlike a self-reported measure.
- Performance StandardsTermPerformance Criteria, Achievement Standards
- The specific benchmarks established for evaluating the quality, efficiency, or outcomes of a healthcare provider, programme, or system.
- Performance WeightsTermIndicator Weights, Scoring Weights
- Weights assigned to experts based on their demonstrated accuracy on questions with known answers, giving more influence to better-calibrated experts.
- Performance-Based AgreementTermPBA, Performance Agreement, Outcome-Based Pricing, Performance-Based Pricing, Pay-for-Performance Pricing
- A contractual arrangement in which pricing or continued reimbursement depends on a treatment achieving specified performance criteria in real-world use.
- Performance-Based FinancingTermPBF, Results-Linked Financing
- A financing approach tying provider or programme payments to achievement of predefined performance targets, such as immunisation coverage.
- Performance-Based RebateTermPerformance Rebate, Outcome-Linked Rebate, Outcome-Based Rebate, Outcomes-Based Rebate, Results-Linked Rebate, Risk-Sharing Rebate, Performance-Linked Rebate, Value-Based Rebate
- A rebate arrangement in which a manufacturer discount to a payer is contingent on the treatment achieving a specified level of clinical performance.
- Perinatal EpidemiologyTermPregnancy Epidemiology, Birth Epidemiology
- A branch of epidemiology studying health outcomes and their determinants during pregnancy, childbirth, and the immediate postnatal period.
