SF-6Dv2
SF-6Dv2 is the revised SF-6D, a six-dimension preference-based classification scored from SF-36v2 answers, whose value sets give utilities for QALYs.
Encyclopaedia
Explore comprehensive, evidence-informed explanations of key health economics concepts, including their development, application and relationships to other concepts. Published entries are validated through human expert review.
Concepts, entries and ontology terms
A concept page is a published entry on the wiki. Some concepts also have a full encyclopaedia article. The Health Economics Ontology (HEO) holds every concept, including dictionary terms without an article, so it is larger than the list of published pages. The knowledge graph shows how concepts relate to each other.
Shadow Price
The implicit value of a resource with no observable market price, reflecting the opportunity cost of using it in a particular way.
Shadow Price of Health
The shadow price of health is the health a fixed budget gains from one more pound spent at the margin; its reciprocal is the cost-effectiveness threshold.
Shadow Price of Labour
The shadow price of labour, or shadow wage, is a shadow price that values staff and volunteer time in health appraisal at its social opportunity cost.
Signaling
Signaling is a costly, visible action by which an informed party, such as a hospital, credibly reveals hidden quality to patients or insurers.
Signaling Theory
Signaling theory explains how informed parties such as hospitals reveal hidden quality to patients and payers by actions costlier for low-quality types.
Social Choice Theory
Social choice theory is the study of rules that combine individual preferences or judgements into one collective decision, such as a health care priority.
Social Opportunity Cost of Capital
The social opportunity cost of capital is the opportunity cost of public funds, the return on private investment that projects such as hospitals displace.
Social Return on Investment
Social return on investment (SROI) values a programme's health, social and environmental outcomes in money and compares the total with what it cost.
Social Welfare Function
A social welfare function (SWF) combines individual health or wellbeing into overall social welfare, setting how equality is weighed against the total.
Societal Perspective
The societal perspective is an economic evaluation viewpoint that counts all costs and outcomes, whoever bears them, including productivity and carer time.
Standard Costing
Standard costing sets the expected cost of a health service in advance from standard quantities and prices, then compares actual costs with this benchmark.
Standard Gamble
The standard gamble (SG) values a health state for QALYs as the chance of full health, against death, that makes a gamble as good as the state for sure.
Standardised Response Mean
The standardised response mean (SRM) is a responsiveness index for health outcome measures, the mean change divided by the standard deviation of change.
Strict Dominance
Strict dominance in cost-effectiveness analysis is when one option both costs less and gives more health than another, so the other option is ruled out.
Suits Index
The Suits index measures how progressive a tax or health financing source is by comparing cumulative payment shares with cumulative income shares.
Sullivan Method
The Sullivan method estimates health expectancy, such as healthy life expectancy, by weighting life-table person-years by age-specific health prevalence.
Supplier-Induced Demand
Supplier-induced demand (SID) is use of health care that providers create through their information advantage, beyond what informed patients would choose.
Supply
Supply is the amount of a good or service, such as health care, that producers are willing and able to provide at each price over a given period.
Technical Efficiency
Technical efficiency is producing health care with the fewest inputs that best practice allows, or the most output from given inputs, ignoring prices.