Arrow's Impossibility Theorem
Arrow's impossibility theorem is a welfare economics theorem proving no rule can pool rankings of three or more health options and meet five basic tests.
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.
ASCOT
ASCOT is the Adult Social Care Outcomes Toolkit, a preference-weighted measure of social care-related quality of life for economic evaluation of care.
Atkinson Index
The Atkinson index measures inequality in health or income using a social welfare function with an explicit inequality aversion parameter, epsilon.
Attributable Cost Estimation
Attributable cost estimation measures the extra healthcare cost a disease or risk factor causes, against what the same patients would cost without it.
Auction Theory
Auction theory in health economics studies how bidding rules in tenders set the price and supply of medicines, vaccines and medical equipment.
Average Cost
Average cost is total cost divided by the number of units produced, such as patients treated or bed days, giving the cost per unit of a health service.
Average Cost-Effectiveness Ratio
The average cost-effectiveness ratio (ACER) is an option's cost per unit of health effect, in total or against doing nothing, without comparing options.
Avoidable Cost
Avoidable cost is the cost a budget holder would no longer pay if a health service stopped or a disease was prevented, within a stated time period.
Bargaining Theory
Bargaining theory explains how negotiating parties divide the gains from reaching agreement, as when a payer and a manufacturer agree a drug price.
Baumol Effect
The Baumol effect is the rising relative cost of labour-intensive services such as health care as their pay tracks faster productivity growth elsewhere.
Behaviour Change Technique
A behaviour change technique (BCT) is the smallest replicable part of a health behaviour programme, such as goal setting, coded to cost what is delivered.
Behavioural Theory
Behavioural theory explains how limited attention, present bias and other biases push health and insurance choices away from full rationality.
Benefit Transfer
Benefit transfer reuses willingness-to-pay values from earlier studies, such as the value of a statistical life, to value health benefits in a new setting.
Benefit-Cost Ratio
Benefit-cost ratio (BCR) is a health programme's monetised benefits divided by its costs, in present values, used to summarise a cost-benefit analysis.
Best-Worst Scaling
Best-worst scaling (BWS) is a stated preference method in which people pick the best and worst item in each set, to rank priorities or value health states.
Bottom-Up Cost-of-Illness
Bottom-Up Cost-of-Illness estimates a disease's economic burden by valuing patient-level resource use at unit costs and scaling it to the population.
Bottom-Up Costing
Bottom-up costing estimates the cost of care by recording each patient's use of resources and multiplying every item by its unit cost.
Bounded Rationality Concept
The bounded rationality concept holds that patients, clinicians and payers with limited information, time and computation settle for good enough options.
Break-Even Analysis
Break-even analysis finds the price, effect or volume at which a health technology or service becomes cost-effective, cost-neutral or self-financing.
Budget Approval
The authorised decision to allocate or permit specified spending for a defined health purpose, budget holder and period, often with explicit conditions.