Dictionary

P

Principal ComponentConceptPCA, Component Extraction

A principal component is an uncorrelated linear combination of centered variables whose loading vector identifies a successive direction of maximum variance in the data.

Principal-Agent ProblemConceptAgency Cost Problem, Principal-Agent Dilemma

The principal-agent problem arises when patients or payers rely on providers who know more than they do, act unobserved and may pursue other interests.

Principal-Agent Problem in HealthcareConceptPhysician-Patient Agency Problem, Clinical Agency Problem

The specific version of the principal-agent problem in the physician-patient relationship, where clinical expertise gaps create both helpful guidance and risk of distorted recommendations.

Principal-Agent RelationshipTermAgency Relationship, Agency Arrangement

An arrangement in which one party, the agent, acts on behalf of another, the principal, whose interests may diverge due to differing incentives or information.

Prior AuthorizationConceptPre-Approval Requirement, Prior Auth, Preauthorization, Prior Authorization Process, Prior Authorization Requirement

A health plan’s advance review of a patient-specific service, medicine or item against coverage criteria before it is provided.

Prior DistributionConceptPrior, Bayesian Prior

In Bayesian statistics, the probability distribution representing existing beliefs about a parameter before observing new data.

Prior OddsTermPre-Data Odds, Baseline Odds

The odds that a hypothesis is true before incorporating new evidence, the starting point for Bayesian updating alongside a likelihood ratio.

Prior ProbabilityTermPrior Belief, Pre-Data Probability

The probability assigned to a hypothesis before accounting for new evidence, representing existing belief later updated through Bayesian analysis.

Prior UtilisationTermPrior Use, Previous Utilisation

An individual's past pattern of healthcare service use, commonly used as a predictor within risk adjustment models of future costs.

Priority RankingTermPrioritisation Ranking, Ranked Priority List

The process of ordering competing programmes or technologies by relative value or urgency, guiding resource allocation within a fixed budget.

Priority ReviewTermExpedited Review, Fast Regulatory Review

A regulatory designation shortening the standard review timeline, typically granted for treatments addressing serious conditions with significant improvement over existing therapies.

Priority SettingTermPrioritisation, Rationing Decisions, Coverage Prioritisation, Priority-Based Coverage

The systematic process of deciding how to allocate limited health resources across competing needs, informed by cost-effectiveness and equity.

Priority Setting MethodTermPrioritisation Method, Priority-Setting Technique

A systematic approach to deciding how to allocate limited health system resources across competing programmes or services.

Prisoner ResearchTermIncarcerated-Population Research, Prison Study Ethics

Research involving incarcerated individuals, subject to additional safeguards given the constrained, potentially coercive environment that could compromise free consent.

Privacy ProtectionTermData Privacy Safeguards, Information Privacy, Digital Privacy, Health Data Privacy, Digital Data Privacy

The legal and technical safeguards preventing unauthorised access to or disclosure of an individual's personal health information.

Privacy StandardsTermData Privacy Rules, Privacy Framework

The specific rules governing how patient health information must be protected and handled, established through regulations such as HIPAA.

Private Discount RateTermIndividual Discount Rate, Market Discount Rate

The rate at which an individual personally discounts future costs and benefits, typically higher than the social discount rate used in policy evaluation.

Private Health InsuranceTermPHI, Voluntary Health Cover

Health insurance coverage provided by non-governmental insurers, funded through premiums paid by individuals or employers, unlike government-administered public programmes.

Private Insurance PremiumTermCommercial Insurance Premium, Private Cover Premium

The periodic payment an individual or employer makes to a private insurer in exchange for coverage of specified healthcare costs.

Private PayerTermPrivate Insurer, Non-Government Payer, Commercial Payer, Commercial Insurer, Private Health Insurer

A non-governmental entity, such as a commercial insurer or self-insured employer, responsible for financing healthcare for a covered population.

Private Sector PerspectiveTermCommercial Viewpoint, Industry Standpoint

An analytic viewpoint including only costs and outcomes relevant to private organisations, such as insurers or employers, excluding costs borne by public payers.

Private SystemTermPrivate Health System, Market-Based System

A health system model in which financing and delivery are predominantly provided through private sector organisations, for-profit or non-profit.

PrivatizationTermDenationalisation, Private Transfer

The transfer of ownership or operational control of an asset or service from government to private entities.

PRO-CTCAETermPatient-Reported CTCAE, PRO Toxicity Measure

A patient-reported system complementing the clinician-reported Common Terminology Criteria for Adverse Events, letting patients report symptom frequency, severity, and interference directly.

Pro-Poor PolicyTermEquity-Oriented Policy, Poverty-Targeted Policy

A health policy designed to benefit lower-income populations disproportionately, intended to reduce inequities by directing more resources their way.

Pro-Rich BiasTermPro-Rich Distribution, Regressive Benefit Bias

A pattern in which the benefits of a healthcare subsidy or programme disproportionately accrue to wealthier groups relative to their share of need.

Probabilistic Sensitivity AnalysisConceptPSA, Probabilistic Analysis

Probabilistic sensitivity analysis (PSA) runs a decision model many times on jointly drawn inputs to estimate expected outcomes and decision uncertainty.

ProbabilityConceptChance, Likelihood of Event

Probability is a number between zero and one assigned to the likelihood of a precisely defined event under stated conditions.

Probability DistributionTermStatistical Distribution, Distribution Function

In health economics, a mathematical function describing the probabilities of the possible values of an uncertain quantity, used to represent parameter and individual-level variation in economic models and probabilistic sensitivity analysis.

Probability of Cost-EffectivenessConceptProbability CE, Likelihood of Cost-Effectiveness

The probability of cost-effectiveness is the model-based probability that an intervention meets a stated net-benefit criterion against specified alternatives at a given willingness-to-pay threshold under the assumed uncertainty distribution.

Probability-to-Rate ConversionTermRate Conversion, Probability-Rate Transformation

The mathematical transformation converting a probability of an event over a discrete time interval into its corresponding continuous-time hazard rate.

Problem StructuringTermDecision Framing, Situation Structuring

The early stage of model development in which the decision question, stakeholders, and analytic boundaries are defined before technical work begins.

Procedural ConsentTermProcedure-Specific Consent, Treatment Procedure Authorisation

The specific informed consent process addressing a particular medical or surgical procedure's risks, benefits, and alternatives, obtained beforehand.

Procedural JusticeTermFair Process, Procedural Fairness

A principle holding that the fairness of a decision-making process, independent of its outcome, matters for the decision's legitimacy.

Procedure VolumeTermSurgical Case Volume, Operative Volume, Surgical Cases, Operative Cases, Theatre Caseload

The total number of times a specific procedure is performed by a provider over a defined period, closely associated with outcomes for many procedures.

Process CapabilityTermCp/Cpk, Capability Index

A statistical measure of how consistently a process produces output within specified acceptable limits, assessing whether it reliably meets targets.

Process EvaluationTermImplementation Evaluation, Delivery Evaluation

An evaluation examining how an intervention was implemented, including fidelity to its intended design, reach, and contextual factors affecting delivery.

Process ImprovementTermContinuous Improvement

The systematic identification and reduction of inefficiency within a care delivery process, using continuous, data-driven refinement.

Process InnovationTermDelivery Innovation, Operational Innovation

An innovation improving how a good or service is produced or delivered, rather than changing the underlying product itself.

Process MappingTermProcess Flow Mapping, Workflow Mapping

The creation of a detailed visual representation of the steps, decision points, and participants involved in a workflow or care process.

Process MeasureTermCare-Process Metric, Process-of-Care Measure

A metric assessing whether appropriate, evidence-based care processes were actually followed, unlike measures of resources available or outcomes achieved.

Process QualityTermDelivery Quality, Process Dimension of Care

A healthcare quality dimension focused on whether appropriate, evidence-based care processes were followed, unlike outcomes achieved or structural resources.

Process Quality IndicatorTermProcess-of-Care Indicator, Process Quality Metric

A measurable metric assessing whether recommended, evidence-based care steps were actually delivered to eligible patients, such as preventive screening rates.

Processing ErrorTermCoding-and-Entry Error, Data-Handling Error

A mistake introduced while handling, cleaning, or transforming data after collection but before analysis, such as an incorrect data merge.

Producer SurplusConceptSupplier Surplus, Producer Benefit

The difference between the price a producer receives and the minimum they would have accepted, the net benefit they gain from a transaction.

Producer TheoryTermTheory of the Firm, Supply-Side Theory

The branch of microeconomic theory analysing how firms choose inputs and output levels to maximise profit given their costs and market conditions.

Production Possibility FrontierConceptPPF, Production Possibility Curve

A graph showing the maximum combinations of two goods or outcomes producible given a fixed set of resources and existing technology.

Productive EfficiencyConceptProduction Efficiency, Cost-Minimising Efficiency

Producing a health output at the lowest possible cost, which needs both technical efficiency and the least-cost mix of inputs.

ProductivityTermOutput per Worker, Economic Output Rate

A measure of output produced relative to inputs consumed, assessing how efficiently a provider converts resources into patient care.

Productivity CostTermForegone-Output Cost, Indirect Work Loss

The economic value of lost work output from illness or death, estimated using the human capital or friction cost approach.