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.

Property Graph

A property graph is a graph data model whose nodes and edges carry labels and property-value pairs, used to link health records, studies and costs.

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Prospective Risk Adjustment

Prospective risk adjustment adjusts health plan or provider payments for a coming period using diagnoses and demographics from an earlier base period.

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Provider Payment

Provider payment is how health purchasers pay doctors and hospitals, for example by budget, salary, fee-for-service, per diem, case (DRG) or capitation.

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Readmission

A readmission is a further hospital admission soon after discharge, often within 30 days, used to judge inpatient care quality and counted as a cost.

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Real Option Value

Real option value is the extra health gain a treatment creates by keeping patients alive and eligible long enough to benefit from future innovations.

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Record Linkage

Record linkage is a data preparation method that finds records of the same person across health datasets, such as trial files and hospital episodes.

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Relative Value Unit

A relative value unit (RVU) is a weight for the resources a physician service uses relative to others, which Medicare turns into fee schedule payments.

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Relative Weight

A numerical value assigned to a payment classification, such as a diagnosis-related group, reflecting its expected resource intensity relative to average.

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Resource Description Framework

Resource Description Framework (RDF) is a W3C data standard holding statements as subject, predicate and object triples, so health datasets can merge.

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Resource-Based Relative Value

A methodology determining physician reimbursement based on a standardised measure of resources required, incorporating work, practice expense, and malpractice risk.

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Retrieval-Augmented Generation

Retrieval-augmented generation (RAG) is an NLP method in which a language model answers using passages fetched from a chosen library, such as HTA reports.

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Retrospective Risk Adjustment

Retrospective risk adjustment recalculates health plan or provider payments after a coverage period ends, using diagnoses and costs from that period.

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Risk Adjustment

Risk adjustment uses age, diagnoses and other patient data to predict expected health care costs or outcomes, to set insurer payments or compare providers.

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Risk Pooling

Risk pooling is the sharing of prepaid health funds across a covered population, so the cost of care is borne by all members, not by those who fall ill.

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Risk Score

A risk score is a model-based number summarising a person's expected healthcare spending or chance of a health outcome over a set period such as a year.

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Semantic Search

Semantic search is information retrieval that matches the meaning of a query, via a thesaurus, ontology or embeddings, to find studies or HTA guidance.

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Sentinel Event Rate

A sentinel event rate is the number of grave patient-safety events, such as wrong-site surgery, per unit of care activity in a set period.

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Shapes Constraint Language

The Shapes Constraint Language (SHACL) is a W3C data standard for validating RDF data against stated rules, such as a discharge date following admission.

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Simple Knowledge Organization System

Simple Knowledge Organization System (SKOS) is a W3C data standard for publishing vocabularies, such as health economics thesauri and code lists, as RDF.

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Slope Index of Inequality

The slope index of inequality (SII) is an absolute measure of health inequality, the predicted gap between the top and bottom of a socioeconomic ranking.

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