Population
Population, in health economic evaluation, is the group of people a decision or analysis concerns, defined by condition, characteristics and care pathway.
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.
Population Attributable Fraction
The population attributable fraction (PAF) is the share of a population's disease cases or burden that would not occur if a causal exposure were removed.
Population EVPI
Population EVPI is the expected value of perfect information scaled up to all patients a health care decision will affect, discounted over its lifetime.
Positive Economics
Positive economics is the branch of economics that explains and predicts what is, such as how a sugar tax changes purchases, not what ought to be.
Positive Externality
A positive externality is an uncompensated benefit, such as lower infection risk for others after vaccination, that an activity gives to third parties.
Positive Likelihood Ratio
The positive likelihood ratio (LR+) is sensitivity over (1 minus specificity), the factor by which a positive result multiplies disease odds in HTA models.
Positive Predictive Value
Positive predictive value (PPV) is the share of people with a positive test result who truly have the condition, which models use to count false positives.
Post-Test Probability
Post-test probability is the chance of a condition after a test result, updated from pre-test probability by its likelihood ratio, in diagnostic models.
Posterior Distribution
The posterior distribution is the probability distribution of an uncertain model input, such as a treatment effect, after a prior is updated with new data.
Pre-Test Probability
Pre-test probability is the chance a patient has the condition before testing, judged from presenting features, and it shapes test cost-effectiveness.
Precision Medicine
An approach to prevention, diagnosis or treatment that uses relevant individual or disease characteristics to select a more appropriate care strategy.
Preference
A preference is a comparative evaluation by which a person ranks one option above, below or equal to another, the basis of health utilities and WTP.
Preference Elicitation
Preference elicitation measures what people value in health care from stated or revealed choices, yielding QALY weights, money values or risk trade-offs.
Premarket Approval
Premarket approval (PMA) is the FDA review a high-risk Class III medical device must pass before US sale, on evidence of its safety and effectiveness.
Present Value
Present value is what a future cost or health gain, or a stream of them, is worth today, found in economic evaluation by discounting each year's amount.
Prevalence
Prevalence is the proportion of a population living with a condition at a given time or over a period, used to size patient groups and annual costs.
Prevalence Ratio
The prevalence ratio (PR) is the prevalence of a condition in an exposed group divided by that in an unexposed group, used to compare disease burden.
Price Elasticity of Demand
Price elasticity of demand is the percentage change in quantity demanded after a 1% price rise, used to forecast how patient charges change use of care.
Primary Research
Primary research is research that collects new data, as in trials, cohort studies and preference or costing surveys, rather than reusing existing data.
Principal Agent Model
A formal framework analysing situations where a principal delegates decisions to an agent whose interests may not fully align with their own.