Matrix Multiplication
Matrix multiplication combines two organised sets of quantities so that the rows of the first matrix are matched with the columns of the second.
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.
Maximum Likelihood Estimation
Maximum likelihood estimation (MLE) fits models such as survival curves by choosing the parameter values that make the observed data most probable.
MCDA in HTA
MCDA in HTA uses multi-criteria decision analysis to appraise health technologies on explicit, often weighted, criteria such as health gain and severity.
Mean
A measure of central tendency obtained, in its arithmetic form, by dividing the sum of values by their count; a population mean is the corresponding expected value.
Mean Absolute Error
The arithmetic average of the absolute differences between numerical predictions and their corresponding observed values, expressed in the outcome’s units.
Mean Difference
The mean difference (MD) is the difference between two groups' average values on one continuous scale, the usual effect measure for continuous outcomes.
Mean Squared Error
Mean squared error is the average of squared differences between predictions or estimates and their corresponding observed or reference values, evaluated over a specified set or sampling process.
Measurement Error
Measurement error is the gap between a recorded value and the true value it was meant to capture, which can bias costs, effects and utilities.
Measurement Scale Type
Measurement scale type is a variable's level, nominal, ordinal, interval or ratio, which sets valid arithmetic, as with EQ-5D level medians or cost ratios.
Mechanism Design
Mechanism design uses game theory to set rules, such as auctions, tenders or matching schemes, under which self-interested choices serve a chosen goal.
Mediation Analysis
Mediation analysis is a statistical method that splits a treatment's effect on health or costs into a direct effect and an indirect effect via a mediator.
Medical Loss Ratio
The medical loss ratio (MLR) is the share of a health insurer's premium income spent on medical claims and quality improvement, with a US legal minimum.
Medical Malpractice
Medical malpractice is injury to a patient caused by a health professional's negligent care, for which the law allows a claim for compensation.
Medication Adherence
Medication adherence is how far patients start, take and keep taking medicines as prescribed, which shapes the real cost and benefit of drug treatment.
Medication Possession Ratio
The medication possession ratio (MPR) is the total days' supply dispensed divided by the days in the period. Unlike PDC, it can exceed 1 unless capped.
Memorylessness
Memorylessness is the property that the chance of the next event does not depend on time already waited, as in Markov models and exponential survival.
Mental Health Economics
The broad application of health economic evaluation to mental health conditions and treatment, spanning prevention, psychotherapy, medication, and specialist psychiatric services.
Meta-Analysis
Meta-analysis is the statistical combination of results from two or more studies, giving the pooled treatment effects used in HTA and economic models.
Meta-Regression
Meta-regression is a precision-weighted regression of study effect estimates on study characteristics, explaining heterogeneity in meta-analyses for HTA.
Method of Moments
The method of moments estimates a distribution's parameters by equating its mean and variance to observed values, often to fit decision model inputs.