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.
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.
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.
Continuous Data
Continuous data are outcomes measured on a numerical scale that can take any value within a range, such as blood pressure, cost or utility.
Continuous Model
A continuous model is a decision model run in continuous time rather than fixed cycles, so health events can occur at any moment, governed by rates.
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.
Control Variates
Control variates is a variance reduction method that corrects a Monte Carlo estimate, such as mean cost or QALYs, using a correlated output of known mean.
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.
Convergence
Convergence is the point at which an MCMC run or other iterative simulation settles on a stable result as the number of iterations increases.
Cook's Distance
Cook's distance is a regression diagnostic measuring how much all fitted values change when one observation, such as one patient's cost record, is removed.
Correlation
Correlation is how strongly two variables move together or in opposite directions, such as costs and QALYs, without showing that one causes the other.
Correlation Coefficient
A correlation coefficient is a statistic from -1 to +1 giving the direction and strength of association between paired variables, such as costs and QALYs.
Correlation Matrix
A correlation matrix is a square table containing the pairwise correlation coefficients among a set of variables.
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.