Double Counting
Double counting is an analysis error in economic evaluation in which one cost or benefit is counted twice, such as an NHS saving also entered as a benefit.
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.
Dynamic Model
A dynamic model is a health economic model whose predictions feed back into its later rates, as when vaccinating some people lowers the risk for others.
Dynamic Programming Health
An optimisation technique solving complex sequential decision problems by breaking them into smaller, nested subproblems solved in relation to one another.
Dynamic Transmission Model
A dynamic transmission model (DTM) lets infection risk rise and fall with the number of infectious people, so vaccine evaluations count herd protection.
Economic Evaluation
Economic evaluation, often called health economic evaluation, compares the costs and outcomes of healthcare options to judge which offers the best value.
Economically Justifiable Price
The economically justifiable price (EJP) is the top price a manufacturer can defend on cost-effectiveness grounds at a given payer's threshold.
Edgeworth Box
The Edgeworth box is a diagram of each split of fixed amounts of two goods, such as health care and food, between two people, showing Pareto efficiency.
Effect Size
Effect size is the magnitude of a treatment effect or association, on a scale such as a risk ratio or mean difference, used in HTA and economic models.
Effect Size Estimation
The statistical process of calculating a quantitative measure of a treatment effect's magnitude, often standardised to allow comparison across differing measurement scales.
Effective Sample Size
Effective sample size (ESS) is the number of independent patients or draws that would match the precision of a clustered, weighted or correlated sample.
Efficiency
Efficiency is getting the most health or other valued outcomes from scarce healthcare resources, avoiding waste and allocating them to their best uses.
Efficiency Frontier
The efficiency frontier is the line joining the non-dominated treatments for one indication on a plot of benefit against cost, as used by Germany's IQWiG.
Efficient Design
An experimental design built to maximise the statistical information obtained from a given number of choice tasks.
Eigenvalue
An eigenvalue is the factor by which a square matrix scales a vector that stays on its own line, used in health economics in Markov models, PCA and PSA.
Elastic Demand
Elastic demand is demand whose price elasticity exceeds one in absolute value, so a price rise, such as a health tax, cuts total spending on the product.
ENBS Calculation
ENBS calculation scales a study's per-person EVSI to the population who could benefit, then subtracts its fixed, per-participant and opportunity costs.
Equality of Opportunity
Equality of opportunity is an equity principle that judges health gaps unfair when they stem from circumstances people cannot control, not their choices.
Equilibrium
Equilibrium is a state in which economic forces balance, as when demand for health care equals supply, so no one has reason to change prices or plans.
Equilibrium Price
An equilibrium price is the price at which quantity demanded equals quantity supplied, so a market for a health service or medicine clears.
Equity
Equity is fairness in how health, healthcare and its financing are distributed: equal treatment for equal need, and appropriately more for greater need.