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.
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- Plan-Do-Study-ActTermPDSA Cycle, Deming Cycle
- A structured, iterative four-stage cycle involving planning a change, implementing it small-scale, studying results, and acting on what was learned.
- Platform TrialTermMulti-Arm Multi-Stage Trial, Standing-Platform Study
- A trial design using one continuously operating master protocol to evaluate multiple treatments over time, letting treatments enter or leave by predefined rules.
- Platform Trial DesignTermPlatform Study Design, Perpetual-Trial Design
- The structural and statistical framework underlying a platform trial, including shared infrastructure, a common control arm, and rules for adding or dropping treatments.
- Platinum PlanTermPlatinum 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.
- Plausibility AssessmentTermPlausibility Check, Sense-Check
- An evaluation of whether a model's assumptions, structure, or results are reasonable given existing clinical and scientific knowledge, even without formal statistical testing.
- Point Allocation MethodConceptPoint Allocation, Constant Sum Method, Constant Sum Allocation, Fixed-Total Allocation, Points Distribution Method
- The point allocation method asks respondents to divide a fixed total of points, often 100, among health outcomes or criteria to show their relative value.
- Point EstimateConceptSingle-Value Estimate, Best-Guess Estimate
- A point estimate is a single numerical value calculated from observed data or a fitted model to represent a specified unknown quantity on a stated scale.
- Point of Service PlanTermPOS 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.
- Point PrevalenceConceptSnapshot Prevalence, Prevalence at a Single Time
- The proportion of a population found to have a particular condition at a single specific point in time, unlike period prevalence or incidence.
- Point-of-Care TrialTermPOC Trial, Bedside Randomised Trial
- A trial embedded directly within routine clinical care, using existing workflows and electronic records to randomise patients and collect outcome data.
- Poisson DistributionConceptPoisson Model, Count Distribution
- A discrete probability distribution describing the number of times an event occurs within a fixed interval, assuming independence and a constant average rate.
- Poisson RegressionConceptCount Regression, Log-Linear Count Model
- A modelling technique analysing count outcome data, such as clinical events per patient, based on the assumption that outcomes follow a Poisson distribution.
- Policy EvaluationTermPolicy Appraisal, Policy Assessment
- A structured assessment of whether an implemented policy achieved its intended objectives, comparing observed outcomes against what would otherwise have occurred.
- Policy ImplementationTermPolicy Rollout, Policy Delivery
- The process of putting an adopted policy into actual practice, encompassing the administrative, regulatory, and operational steps required.
- Policy Option AssessmentTermOption Appraisal, Policy Alternatives Assessment
- The systematic evaluation of alternative approaches to a health policy problem, comparing options across criteria such as cost and equity.
- Policy Option IdentificationTermOption Generation, Policy Alternatives Identification
- The process of generating a comprehensive set of potential approaches to a policy problem before proceeding to detailed comparative evaluation.
- Policy Problem DefinitionTermProblem Framing, Policy Problem Framing
- The process of clearly articulating the specific issue a policy is intended to address, including its scope, causes, and affected population.
- Policy RecommendationTermPolicy Advice, Recommended Option
- A formal proposal advocating a specific course of action to address a defined policy problem, following systematic analysis of alternatives.
- Policy RevisionTermPolicy Amendment, Policy Update
- A modification to an existing health policy to address shortcomings, incorporate new evidence, or adapt to changed circumstances.
- Policy TerminationTermPolicy Cessation, Policy Wind-Down
- The formal discontinuation of an existing policy or programme, typically when judged ineffective, unnecessary, or superseded by an alternative.
- Political FeasibilityTermPolitical Viability, Political Acceptability
- An assessment of whether a policy is likely to garner sufficient political support to be adopted, given stakeholder interests and public opinion.
- POLSTTermPhysician Orders for Life-Sustaining Treatment, Portable Medical Order
- Physician Orders for Life-Sustaining Treatment, a standardised medical order documenting a seriously ill patient's resuscitation and treatment preferences.
- PolypharmacyTermMultiple Medication Use, Concurrent Medication Burden
- The concurrent use of multiple medications by a patient, most commonly defined as five or more regularly used medications, though definitions vary.
- Pooling EquilibriumTermPooling Outcome, Mixed-Type Equilibrium
- A market outcome in which different risk types make the same choice, so a firm cannot distinguish between them from behaviour alone.
- PopulationConcept
- Population, in health economic evaluation, is the group of people a decision or analysis concerns, defined by condition, characteristics and care pathway.
- Population AnalyticsTermPopulation Health Analytics, Cohort Analytics
- The application of data analysis to understand health patterns and needs across an entire defined patient population, supporting risk stratification.
- Population Attributable FractionConceptPAF, Population Aetiologic Fraction
- The proportion of disease cases in an entire population that would not occur if a specific exposure were eliminated, accounting for its prevalence.
- Population Attributable RiskTermPAR, Population Excess Risk
- The reduction in disease incidence within a population that would result from eliminating a harmful exposure entirely, expressed as an absolute rate.
- Population CoverageTermPopulation Entitlement, Entitled Population Share
- The proportion of a defined population covered by a health financing or insurance scheme, one dimension of universal health coverage progress.
- Population EVPIConceptAggregate EVPI, Whole-Jurisdiction EVPI
- The expected value of perfect information calculated for an entire affected patient population over time, rather than for a single patient.
- Population HealthTermCommunity Health Status, Group Health Outcomes
- The health outcomes of a group of individuals, including their distribution, encompassing healthcare delivery and broader social and environmental determinants.
- Population Health ManagementTermPHM, Managed Population Health
- An approach focusing on improving outcomes for an entire defined patient population, incorporating proactive outreach, risk stratification, and coordinated care.
- Population-Based PaymentTermPopulation Payment Model, Per-Capita Provider Payment, Population Payment
- A methodology reimbursing a provider based on the overall health needs and outcomes of a defined population, rather than individual services delivered.
- Population-Level ModelTermAggregate-Level Model, Whole-Population Model
- A decision-analytic model representing outcomes for an entire population rather than individual patients, often used to capture transmission or budget effects.
- Portability DesignTermCoverage Transferability, Plan Portability Rules
- Features built into an insurance product or account letting coverage or accumulated funds remain with an individual across employer or plan changes.
- Positive ExternalityConceptBeneficial Spillover, External Benefit
- A benefit conferred on a third party by an economic activity, not reflected in its market price, leading to underproduction relative to the social optimum.
- Positive FeedbackTermReinforcing Loop, Amplifying Feedback
- A causal relationship in which a change in one variable triggers effects that reinforce the original change, tending to accelerate the system's trajectory.
- Positive Likelihood RatioConceptLR+, Positive LR
- A diagnostic test measure expressing how much a positive result increases the odds that a patient truly has the condition tested for.
- Positive ListTermReimbursement List, Inclusion List
- A list explicitly specifying which medications or services are covered under a health plan, unlike a negative list specifying exclusions.
- Positive Predictive ValueConceptPPV, True-Positive Share
- The probability that an individual with a positive diagnostic test result truly has the condition being tested for.
- Positive RecommendationTermFavourable Recommendation, Recommend-For Decision
- A body's formal decision to recommend a technology for funding, based on acceptable cost-effectiveness at the reviewed price.
- Post-Acute CareTermPAC, Sub-Acute Care
- Healthcare services provided after an acute hospitalisation to support continued recovery, spanning skilled nursing, rehabilitation, and home health settings.
- Post-Hoc AnalysisTermPost-Hoc Testing, Unplanned Analysis
- A statistical analysis conducted after a trial's data have already been examined, often exploring a hypothesis or subgroup not prespecified.
- Post-Marketing CommitmentTermPMC, Voluntary Post-Approval Study
- A study a manufacturer voluntarily agrees to conduct after approval, unlike a formally mandated post-marketing requirement, characterising real-world safety or effectiveness.
- Post-Marketing RequirementTermPMR, Mandated Post-Approval Study
- A study regulators formally mandate a manufacturer conduct after approval, often as a condition of accelerated approval granted on a surrogate endpoint.
- Post-Marketing SurveillanceTermPhase IV Surveillance, Post-Approval Monitoring, Post-Market Monitoring, Post-Launch Monitoring, Ongoing Market Watch
- The ongoing monitoring of a drug's safety and effectiveness after regulatory approval, capturing information not always evident from pre-approval trials.
- Post-Test ProbabilityConceptPost-Test Risk, Updated Diagnostic Probability
- The updated probability that a patient has a condition after a diagnostic test result is known, combining pre-test probability with the likelihood ratio.
- Posterior DistributionConceptPosterior, Updated Distribution
- In Bayesian statistics, the updated probability distribution for a parameter after combining a prior distribution with the likelihood of observed data.
- Posterior OddsTermUpdated Odds, Post-Data Odds
- The updated odds that a hypothesis is true after incorporating new evidence, found by multiplying prior odds by the likelihood ratio.
- Posterior ProbabilityTermPosterior Belief, Updated Probability
- The updated probability of a hypothesis after accounting for observed evidence, combining a prior probability with the likelihood of that evidence.
