Conjoint Analysis
Conjoint analysis is a family of stated preference methods estimating how people value treatment or service attributes from ratings, rankings or choices.
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.
Consumer Price Index
The consumer price index (CPI) measures change in the prices households pay for a fixed basket of goods and services, used to adjust costs for inflation.
Consumer Sovereignty
Consumer sovereignty is the economic principle that individuals best judge their own welfare, so their preferences set the value of health care.
Consumer Surplus
Consumer surplus is the most that buyers would pay for a good or service minus what they pay, measured as the area under the demand curve above the price.
Contingent Valuation
Contingent valuation (CV) is a stated preference survey method asking people what they would pay for, or accept to give up, a described change in health.
Contingent Valuation Method
The contingent valuation method is the survey protocol used to design, pretest, run and analyse questions asking people to value a health change in money.
Contract Curve
The contract curve is the set of Pareto-efficient allocations between two parties, such as hospitals, where no trade helps one without harming the other.
Controllable Cost
Controllable cost is a health service cost that a named budget holder can influence within the budget period, such as ward overtime or agency staffing.
Cost
In health economics, cost is the value of resources used by a healthcare intervention, measured as the benefit forgone from their best alternative use.
Cost Accounting
Cost accounting is the recording of a health care provider's costs and their assignment to departments, activities and services to produce unit costs.
Cost Allocation
Cost allocation is the sharing of overhead and other indirect costs among health services or patients by a stated rule, such as bed-days or staff time.
Cost Analysis
Cost analysis is a partial economic evaluation that compares the costs of two or more healthcare alternatives without measuring their health outcomes.
Cost Driver
A cost driver is a factor that causes a health service's costs to change over a period, such as patient visits, bed-days, staff time or case mix.
Cost Function
A cost function is the relationship between output, input prices and the lowest cost of production, used to study hospital scale, scope and efficiency.
Cost Measurement
Cost measurement is the step in economic evaluation that counts the resources each alternative uses, such as GP visits or bed-days, before they are valued.
Cost Minimisation
An approach to selecting among interventions already shown to produce equivalent outcomes, in which the choice reduces to the lowest-cost option.
Cost per QALY
Cost per QALY gained is the extra cost of a treatment compared with an alternative, divided by the quality-adjusted life years (QALYs) it adds.
Cost Valuation
Cost valuation is the assignment of monetary values to measured resource use in accordance with a specified perspective, setting, price year, and decision purpose.
Cost-Benefit Analysis
Cost-benefit analysis values the costs and benefits of healthcare options in money, so they can be compared by their net benefit, usually to society.
Cost-Consequence Analysis
Cost-consequence analysis sets out the costs and each separate outcome of healthcare options side by side, without combining them into one result.