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.
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.
Cost-Based Pricing
Cost-based pricing sets the price of a medicine from its research and development, manufacturing, regulatory and overhead costs plus a profit margin.
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.
Cost-Effectiveness
Cost-effectiveness means an intervention's health gain justifies any extra cost versus an alternative, usually judged by the ICER against a threshold.
Cost-Effectiveness Acceptability Curve (CEAC)
A cost-effectiveness acceptability curve (CEAC) plots, across cost-effectiveness thresholds, the probability that each option is the most cost-effective.
Cost-Effectiveness Acceptability Frontier
The cost-effectiveness acceptability frontier (CEAF) plots the chance the option with the highest expected net benefit is cost-effective, by threshold.
Cost-Effectiveness Analysis
Cost-effectiveness analysis compares healthcare options by the extra cost of each extra unit of health gained, such as cost per life-year gained.
Cost-Effectiveness Frontier
The cost-effectiveness frontier joins the strategies not ruled out by strict or extended dominance on a plot of expected cost against health effect.
Cost-Effectiveness League Table
A cost-effectiveness league table ranks health care interventions by cost per QALY or a similar ratio so decision makers can compare value for money.
Cost-Effectiveness Plane
The cost-effectiveness plane graphs incremental cost (y-axis) against incremental effect (x-axis); its four quadrants show dominance or a trade-off.
Cost-Effectiveness Threshold
A cost-effectiveness threshold is the maximum cost per QALY gained that a health system treats as value for money when deciding which treatments to fund.
Cost-Minimisation Analysis
Cost-minimisation analysis compares only the costs of healthcare options, and is valid only when evidence shows their health outcomes are equivalent.
Cost-of-Illness Study
A cost-of-illness study estimates the economic burden of a disease, including healthcare costs, patient and carer costs, and lost productivity.
Cost-Plus Pricing
Cost-plus pricing sets the price of a medicine or health product as its estimated unit cost plus a profit mark-up, either a percentage or a fixed amount.
Cost-to-Charge Ratio
The cost-to-charge ratio (CCR) is a hospital's reported costs divided by its billed charges, used to estimate costs from the charges on patient records.
Cox Proportional Hazards
The Cox proportional hazards model is a semi-parametric survival regression that estimates hazard ratios without specifying the baseline hazard.
Cox-Snell Residual
A Cox-Snell residual is a survival model's fitted cumulative hazard at a patient's observed time, used to check overall fit against a unit exponential.
Credence Good
A credence good is a good or service whose quality or need a buyer cannot judge even after use, such as medical care, where the expert seller knows more.
Credibility Assessment
An overall evaluation of whether a model's structure, evidence base, and validation results provide enough confidence to inform a real decision.