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.
R
- Rheumatoid ArthritisTermRA, Rheumatoid Disease
- A chronic autoimmune condition in which the immune system attacks the joints, causing inflammation, pain, and progressive damage if not controlled.
- Right CensoringConceptRight-Censored Data, Type I Censoring
- The most common form of censoring, occurring when follow-up ends or a patient is lost before the event of interest has occurred.
- RiskTermProbability of Event, Outcome Probability
- The probability that a particular health outcome will occur within a defined population over a specified period of time.
- Risk AdjustmentConceptRisk-Adjusted Payment, Morbidity Adjustment
- Risk adjustment makes outcomes, costs, utilisation or payments more comparable by accounting for differences in characteristics that affect expected results but are not the focus of the comparison.
- Risk Adjustment DesignTermAdjustment Model Specification, Risk Model Design
- The methodological choices underlying a risk adjustment system, including which factors are incorporated, how weighted, and adjustment timing.
- Risk Adjustment MechanismTermRisk Adjustment Formula, Payment Adjustment Formula
- The specific formula used to calculate payment adjustments based on predicted health risk, incorporating diagnoses, demographics, and prior utilisation.
- Risk AnalyticsTermRisk Data Analytics, Predictive Risk Analysis
- The application of data analysis to identify and quantify an individual's or population's risk of a specific future health outcome.
- Risk AssessmentTermCompliance Vulnerability Review, Compliance Exposure Analysis
- A systematic process identifying and evaluating compliance vulnerabilities within an organisation, used to prioritise monitoring and auditing efforts.
- Risk ClassificationTermRisk Categorisation, Risk Grouping
- The process of categorising individuals by expected healthcare costs or risk level, used as an input to pricing or risk adjustment.
- Risk CorridorTermRisk-Sharing Corridor, Loss Corridor
- A risk-sharing mechanism where government shares in an insurer's unexpectedly high losses or profits relative to a projected target, stabilising a new market.
- Risk DifferenceTermAbsolute Difference in Risk, Between-Group Risk Gap
- The absolute difference between the risk of an outcome in one group and in another, the excess or reduced risk from an exposure.
- Risk EqualizationTermRisk Equalisation, Risk-Adjusted Transfer
- A mechanism in multi-payer systems redistributing funds among competing insurers based on their enrolled populations' relative risk profile.
- Risk EvaluationConceptDrug Safety Risk Review, Pre-Approval Safety Review
- A formal assessment of a drug's potential safety risks, sometimes resulting in a required mitigation strategy such as restricted distribution or mandatory counselling.
- Risk FactorTermPredisposing Factor, Determinant of Risk
- A characteristic, behaviour, or exposure associated with an increased likelihood of a disease or health outcome, without necessarily being an established direct cause.
- Risk Management PlanTermRMP, Risk Management System
- A required document outlining measures a manufacturer will implement to identify, characterise, and minimise a treatment's risks over its market life.
- Risk of BiasTermRoB, Bias Susceptibility
- The degree to which a study's design, conduct, or analysis may have introduced systematic errors distorting its findings from the truth.
- Risk of Bias AssessmentTermBias Risk Appraisal, Bias Domain Assessment
- A structured evaluation of a study's methodological quality, examining domains such as randomisation and blinding, to judge how much confidence its results deserve.
- Risk of MortalityTermROM, Mortality Risk Class
- A classification indicating the likelihood a patient will die during hospitalisation, based on diagnoses and clinical characteristics, used to risk-adjust comparisons.
- Risk PoolTermInsurance Pool, Pooled Group
- The group whose healthcare costs are collectively financed through a shared insurance arrangement, with premiums covering those who become ill.
- Risk PoolingConceptFund Pooling, Financial Pooling, Pooling
- Risk pooling is the accumulation and management of prepaid health funds for a defined population so that the financial consequences of health-care need are shared across members rather than borne solely by each person when illness occurs.
- Risk Prediction ModelTermRisk Model, Clinical Prediction Model
- A statistical model estimating an individual's probability of a specific future health outcome based on current characteristics and risk factors.
- Risk RatingTermRisk-Based Rating, Actuarial Rating
- A method setting premiums based on an individual's or group's specific assessed risk level, unlike a uniform community rating.
- Risk RatioConceptCumulative Incidence Ratio, Incidence Proportion Ratio
- A measure calculated as the ratio of risk in one group compared to another, synonymous with relative risk for event comparisons.
- Risk RetentionTermRetained Risk, Self-Funding
- The portion of financial risk an insurer or self-insured employer chooses to retain itself, rather than transferring to a reinsurer.
- Risk ScoreConceptRisk Adjustment Score, Morbidity Score
- A numerical summary of measured predictors used to estimate or rank the likelihood of a specified future outcome in a defined population and time horizon.
- Risk SelectionTermCherry-Picking, Favourable Selection
- The practice by which insurers end up enrolling a disproportionately healthier or sicker population than the market average, distorting fair competition.
- Risk SharingTermRisk Distribution, Risk Spreading
- An arrangement distributing financial risk between two or more parties, such as an insurer and reinsurer, rather than one bearing it alone.
- Risk Sharing DesignTermRisk-Sharing Structure, Sharing Arrangement Design
- The specific structure of a risk-sharing arrangement, including the threshold at which sharing begins and the proportion of costs each party bears above it.
- Risk Sharing SchemeTermRisk Sharing Agreement, RSS, Outcomes-Based Scheme, Risk-Sharing Arrangement
- An arrangement distributing the financial or clinical uncertainty of a new treatment's real-world performance between manufacturer and payer, often linked to outcomes.
- Risk StratificationTermRisk-Based Stratification, Patient Risk Grouping
- The process of classifying patients into distinct groups by their level of risk for an outcome, using demographic or clinical characteristics.
- Risk TransferTermRisk Shifting, Transfer of Risk
- The process by which one party shifts responsibility for financial risk to another, typically in exchange for a premium or fee.
- Risk-Adjusted MeasureTermRisk-Adjusted Metric, Risk-Adjusted Indicator, Case-Mix Adjusted Measure, Case-Mix Adjusted Metric, Casemix-Adjusted Indicator
- A performance metric statistically adjusted for differences in patient population risk profile, ensuring fair comparison across providers of differing complexity.
- Rivalrous ConsumptionTermRivalry, Consumption Rivalry
- A characteristic of a good in which one person's consumption of it reduces the quantity available for others.
- Robust OptimisationConceptRobust Optimization, Worst-Case Optimisation
- An optimisation approach that selects a feasible decision to perform well under the worst parameter values in a specified uncertainty set, often requiring constraints to hold throughout that set.
- Robust Standard ErrorConceptRobust SE, Heteroskedasticity-Consistent Standard Error
- An estimate of a regression coefficient's statistical uncertainty that remains valid even when standard modelling assumptions, such as constant error variance, are violated.
- ROC CurveConceptReceiver Operating Characteristic Curve, ROC Analysis
- A graph depicting the trade-off between a test's true positive rate and false positive rate across a full range of decision thresholds.
- Role FunctioningTermRole Participation, Social Role Capacity, Role Function
- A broader construct covering an individual's overall capacity to fulfil expected social and occupational roles, assessed as a composite scale.
- Root Cause AnalysisTermRCA, Causal Investigation, Root Cause Investigation
- A systematic process investigating a serious adverse event to identify its fundamental, underlying causes, rather than only surface-level circumstances.
- Root Mean Square ErrorConceptRMSE, Root Mean Squared Error
- The square root of the mean squared difference between numerical predictions and their corresponding observed values, expressed in the outcome’s original units.
- Route of AdministrationConceptAdministration Route, Delivery Route
- The specific pathway by which a drug enters the body, such as oral, intravenous, subcutaneous, or inhaled, affecting absorption and onset of action.
- Royston-Parmar ModelConceptFlexible Parametric Survival Model, RP Spline Model
- A class of flexible parametric survival models using restricted cubic splines to represent a transformed survival or hazard function while remaining fully parametric.
- Rule of RescueTermRescue Principle, Identifiable Victim Effect
- An ethical intuition describing the strong societal impulse to devote resources to rescuing identifiable individuals in immediate danger, even against cost-effectiveness logic.
- Run ChartTermRun-Sequence Plot, Trend Chart
- A graphical display of data plotted over time, used to identify trends or shifts in a process, simpler than a control chart.
- Run Chart AnalysisTermRun Chart Interpretation, Trend Rule Analysis
- The process of interpreting a run chart to identify meaningful trends or patterns in a process or outcome measure over time.
- Run LengthTermSimulation Length, Iteration Count
- The number of iterations, or amount of simulated time, for which a simulation model runs before its results are recorded and analysed.
- Run-In PeriodTermLead-In Period, Pre-Randomisation Phase
- An initial trial phase, before randomisation, during which all participants receive a common intervention, used to exclude likely non-adherent or non-responsive individuals.
- Runge-Kutta MethodConceptRK Method, Runge-Kutta Integration
- A Runge-Kutta method is a one-step numerical scheme for approximating the solution of an ordinary differential equation by combining several derivative evaluations within each integration step.
- Rural AccessTermRural Healthcare Access, Remote Access
- A healthcare access dimension concerning the particular challenges of obtaining care in rural or remote areas, often greater distances and thinner supply.
- Rural HospitalTermRural Health Facility, Non-Metropolitan Hospital
- A hospital in a rural, non-metropolitan area, often facing distinct financial challenges from lower patient volumes and greater distances from other facilities.
