Health Economics and Outcomes Research
Expert-defined terms from the Advanced Skill Certificate in Market Access for Pharmaceuticals course at HealthCareStudies (An LSPM brand). Free to read, free to share, paired with a globally recognised certification pathway.
Absence from Work, refers to the time an employee is not present at work due to… #
In Health Economics and Outcomes Research, absence from work is an important outcome measure, as it can impact productivity, healthcare costs, and overall well-being. Related terms include presenteeism, which refers to the phenomenon of employees attending work while ill, and workplace wellness programs, which aim to promote employee health and reduce absenteeism.
Accelerated Approval, is a regulatory mechanism that allows for the earlier appr… #
In Health Economics and Outcomes Research, accelerated approval can have significant implications for market access, reimbursement, and patient access to innovative treatments. Related terms include conditional approval, which requires ongoing evaluation and assessment of the product's safety and efficacy, and breakthrough therapy designation, which is granted to products that demonstrate substantial improvement over existing treatments.
Adherence, refers to the degree to which patients take their medications as pres… #
In Health Economics and Outcomes Research, adherence is an important outcome measure, as it can impact treatment efficacy, healthcare costs, and patient outcomes. Related terms include persistency, which refers to the duration of time a patient remains on treatment, and medication possession ratio, which measures the proportion of days a patient has access to their medication.
Administrative Claims Data, refers to the information collected by healthcare pa… #
In Health Economics and Outcomes Research, administrative claims data are often used! To evaluate the effectiveness and cost-effectiveness of treatments, as well as to identify trends and patterns in healthcare delivery. Related terms include electronic health records, which contain detailed information about patient demographics, diagnoses, and treatments, and registry data, which are collected from specialized databases that track specific conditions or treatments.
Adverse Event, refers to any undesirable experience associated with the use of a… #
In Health Economics and Outcomes Research, adverse events are an important consideration, as they can impact patient outcomes, healthcare costs, and treatment adherence. Related terms include serious adverse event, which requires immediate medical attention, and adverse drug reaction, which is a specific type of adverse event related to medication use.
Affordability, refers to the extent to which individuals or populations can acce… #
In Health Economics and Outcomes Research, affordability is a critical consideration, as it can impact healthcare utilization, health outcomes, and health disparities. Related terms include cost-effectiveness, which evaluates the relationship between costs and outcomes, and value-based pricing, which aims to set prices based on the value of a treatment to patients and society.
Aggregate Data, refers to the collection of data from multiple sources, poole… #
In Health Economics and Outcomes Research, aggregate data are often used to evaluate the effectiveness and cost-effectiveness of treatments, as well as to identify trends and patterns in healthcare delivery. Related terms include meta-analysis, which combines data from multiple studies to draw more general conclusions, and systematic review, which comprehensively evaluates the literature on a specific topic.
Algorithm, refers to a set of rules or procedures used to make decisions or pred… #
In Health Economics and Outcomes Research, algorithms can be used to identify high-risk patients, predict healthcare costs, and evaluate treatment outcomes. Related terms include machine learning, which uses statistical techniques to identify patterns in data, and artificial intelligence, which refers to the use of computer systems to perform tasks that typically require human intelligence.
Alternative Payment Models, refer to approaches to reimbursing healthcare provid… #
In Health Economics and Outcomes Research, alternative payment models can impact healthcare delivery, costs, and outcomes, and are often evaluated using cost-effectiveness analysis and budget impact analysis. Related terms include accountable care organizations, which are provider networks that assume responsibility for the quality and cost of care, and pay-for-performance programs, which reward providers for meeting specific quality and cost targets.
Analysis of Variance, is a statistical technique used to evaluate the difference… #
In Health Economics and Outcomes Research, analysis of variance is often used to evaluate the differences in outcomes between treatment groups, as well as to identify predictors of treatment response. Related terms include regression analysis, which evaluates the relationship between a dependent variable and one or more independent variables, and hypothesis testing, which involves testing a specific hypothesis about the data.
Annual Cost, refers to the total cost of a treatment or intervention over a one #
year period, discounting is often used to account for the time value of money. In Health Economics and Outcomes Research, annual cost is an important consideration, as it can impact budget impact, cost-effectiveness, and reimbursement decisions. Related terms include lifetime cost, which estimates the total cost of a treatment over a patient's lifetime, and cost-of-illness studies, which estimate the total cost of a disease or condition.
Antitrust Law, refers to the regulations that promote competition and prevent mo… #
In Health Economics and Outcomes Research, antitrust law can impact the development and marketing of new treatments, as well as the behavior of healthcare providers and payers. Related terms include intellectual property, which refers to the legal rights to innovations and creative works, and patent law, which grants exclusive rights to inventors and innovators.
Appraisal, refers to the process of evaluating the clinical and cost #
effectiveness of a treatment or intervention, health technology assessment is a systematic approach to appraisal. In Health Economics and Outcomes Research, appraisal is an important step in the decision-making process, as it can inform reimbursement, market access, and treatment choices. Related terms include cost-effectiveness analysis, which evaluates the relationship between costs and outcomes, and budget impact analysis, which estimates the financial impact of a treatment on a healthcare system.
Arbitrage, refers to the practice of taking advantage of differences in prices o… #
In Health Economics and Outcomes Research, arbitrage can be used to identify opportunities for cost savings, as well as to evaluate the impact of pricing strategies on market access and patient outcomes. Related terms include reference pricing, which sets a benchmark price for a treatment based on international prices, and differential pricing, which involves setting different prices for the same treatment in different markets.
Assessment of Quality of Life, refers to the evaluation of a patient's overall w… #
In Health Economics and Outcomes Research, assessment of quality of life is an important consideration, as it can impact treatment choices, healthcare costs, and patient outcomes. Related terms include health-related quality of life, which focuses on the aspects of quality of life that are directly related to health, and utility, which refers to the preference or value that patients place on different health states.
Asset, refers to a resource or possession that has value or generates income, <i… #
In Health Economics and Outcomes Research, assets can impact market access, reimbursement, and innovation, and are often evaluated using cost-benefit analysis and return on investment analysis. Related terms include liability, which refers to a debt or obligation that must be paid, and equity, which refers to the value of ownership or investment in a company or asset.
Asymmetric Information, refers to a situation in which one party has more or bet… #
In Health Economics and Outcomes Research, asymmetric information can be addressed through education and communication strategies, as well as through the use of decision support tools and evidence-based medicine. Related terms include principal-agent theory, which describes the relationship between a principal and an agent, and moral hazard, which refers to the risk that one party will take on more risk than they would otherwise because they are insulated from the consequences.
Attribute, refers to a characteristic or feature of a treatment or intervention,… #
In Health Economics and Outcomes Research, attributes are often evaluated using conjoint analysis and discrete choice experiments, which can help identify the relative importance of different attributes to patients and healthcare providers. Related terms include benefit, which refers to the advantages or positive outcomes of a treatment, and risk, which refers to the potential negative outcomes or harms of a treatment.
Average Cost, refers to the total cost of a treatment or intervention divided by… #
In Health Economics and Outcomes Research, average cost is an important consideration, as it can impact reimbursement, market access, and treatment choices. Related terms include marginal cost, which refers to the additional cost of producing one more unit of a treatment, and fixed cost, which refers to the costs that remain the same even if the quantity of treatment produced changes.
Average Revenue, refers to the total revenue generated by a treatment or interve… #
In Health Economics and Outcomes Research, average revenue is an important consideration, as it can impact reimbursement, market access, and treatment choices. Related terms include marginal revenue, which refers to the additional revenue generated by producing one more unit of a treatment, and price elasticity, which refers to the responsiveness of demand to changes in price.
Base Case, refers to the primary or most likely scenario used in a model or anal… #
In Health Economics and Outcomes Research, the base case is often used to establish a benchmark for evaluating the cost-effectiveness and budget impact of different treatments or interventions. Related terms include scenario analysis, which involves evaluating different scenarios or assumptions to test the robustness of a model or analysis, and sensitivity analysis, which involves testing the impact of changes in assumptions or inputs on the results of a model or analysis.
Bayesian Analysis, refers to a statistical approach that uses Bayes' theorem to… #
In Health Economics and Outcomes Research, Bayesian analysis can be used to incorporate prior knowledge or beliefs into the analysis, as well as to evaluate the uncertainty and variability of the results. Related terms include prior distribution, which refers to the distribution of prior beliefs or knowledge, and posterior distribution, which refers to the updated distribution of beliefs or knowledge after incorporating new data or evidence.
Benefit, refers to the advantages or positive outcomes of a treatment or interve… #
In Health Economics and Outcomes Research, benefits are often evaluated using cost-benefit analysis and cost-effectiveness analysis, which can help identify the treatments or interventions that provide the greatest benefits at an acceptable cost. Related terms include risk, which refers to the potential negative outcomes or harms of a treatment, and value, which refers to the overall worth or utility of a treatment or intervention.
Benefit #
Cost Ratio, refers to the ratio of the benefits of a treatment or intervention to its costs, benefit-cost analysis can help evaluate the overall value of a treatment. In Health Economics and Outcomes Research, the benefit-cost ratio is often used to evaluate the cost-effectiveness and budget impact of different treatments or interventions, as well as to identify the treatments or interventions that provide the greatest benefits at an acceptable cost. Related terms include cost-benefit analysis, which evaluates the benefits and costs of a treatment or intervention, and return on investment, which refers to the financial return on an investment in a treatment or intervention.
Bias, refers to a systematic error or distortion in the collection, analysis, or… #
In Health Economics and Outcomes Research, bias can be addressed through the use of randomization and matching techniques, as well as through the careful consideration of potential biases and limitations in the study design and analysis. Related terms include confounding variable, which refers to a variable that can impact the relationship between the independent and dependent variables, and effect modifier, which refers to a variable that can impact the effect of a treatment or intervention.
Binary Variable, refers to a variable that can take on only two possible values,… #
In Health Economics and Outcomes Research, binary variables are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include continuous variable, which can take on any value within a given range, and categorical variable, which can take on multiple categories or levels.
Budget Impact, refers to the financial impact of a treatment or intervention on… #
In Health Economics and Outcomes Research, budget impact is an important consideration, as it can impact market access, reimbursement, and patient outcomes. Related terms include cost-effectiveness, which evaluates the relationship between costs and outcomes, and return on investment, which refers to the financial return on an investment in a treatment or intervention.
Budget Constraint, refers to the limited resources or funds available for health… #
In Health Economics and Outcomes Research, budget constraints are often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the treatments or interventions that provide the greatest value at an acceptable cost. Related terms include opportunity cost, which refers to the value of the next best alternative that is given up when a choice is made, and trade-off, which refers to the exchange or sacrifice of one thing for another.
Capitation, refers to a payment arrangement in which a healthcare provider is pa… #
In Health Economics and Outcomes Research, capitation is often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the impact of capitation on healthcare costs and patient outcomes. Related terms include fee-for-service, which refers to a payment arrangement in which healthcare providers are paid for each service or treatment provided, and value-based payment, which refers to payment arrangements that reward high-quality, cost-effective care.
Case #
Control Study, refers to a research design in which cases (individuals with a specific condition or outcome) are compared to controls (individuals without the condition or outcome), case-control design can be used to evaluate the effectiveness of a treatment or intervention. In Health Economics and Outcomes Research, case-control studies are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include cohort study, which follows a group of individuals over time to evaluate the development of outcomes, and randomized controlled trial, which uses randomization to evaluate the effectiveness of a treatment or intervention.
Causal Inference, refers to the process of drawing conclusions about the causal… #
In Health Economics and Outcomes Research, causal inference is often evaluated using instrumental variable analysis and propensity score matching, which can help identify the causal relationship between a treatment or intervention and an outcome.
Censored Data, refers to data that are incomplete or truncated, censored obse… #
In Health Economics and Outcomes Research, censored data can be addressed through the use of survival analysis and censoring techniques, which can help account for the incomplete or truncated data. Related terms include missing data, which refers to data that are not available or are missing, and imputation, which refers to the process of replacing missing data with estimated values.
Certificate of Need, refers to a regulatory requirement that healthcare provider… #
In Health Economics and Outcomes Research, certificate of need is often evaluated using cost-benefit analysis and cost-effectiveness analysis, which can help identify the impact of certificate of need on healthcare costs and patient outcomes. Related terms include licensure, which refers to the process of obtaining a license to practice or provide a service, and accreditation, which refers to the process of obtaining recognition or certification for meeting certain standards or criteria.
Chronic Condition, refers to a long #
term or persistent health condition, chronic disease can impact healthcare costs, patient outcomes, and quality of life. In Health Economics and Outcomes Research, chronic conditions are often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the treatments or interventions that provide the greatest value at an acceptable cost. Related terms include comorbidity, which refers to the presence of one or more additional conditions or diseases, and multimorbidity, which refers to the presence of multiple chronic conditions.
Claim, refers to a request for payment or reimbursement for a healthcare service… #
In Health Economics and Outcomes Research, claims are often evaluated using cost-benefit analysis and cost-effectiveness analysis, which can help identify the impact of claims on healthcare costs and patient outcomes. Related terms include reimbursement, which refers to the process of paying for or compensating for a healthcare service or treatment, and denial, which refers to the rejection or refusal of a claim.
Clinical Decision Support, refers to the use of computer systems or other tools… #
In Health Economics and Outcomes Research, clinical decision support is often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the impact of clinical decision support on healthcare costs and patient outcomes. Related terms include electronic health record, which refers to a digital record of patient health information, and health information technology, which refers to the use of technology to support healthcare delivery and decision-making.
Clinical Endpoint, refers to a measure or outcome used to evaluate the effective… #
In Health Economics and Outcomes Research, clinical endpoints are often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the treatments or interventions that provide the greatest value at an acceptable cost. Related terms include surrogate endpoint, which refers to a measure or outcome that is used to predict or estimate the effect of a treatment, and primary endpoint, which refers to the main or most important measure or outcome used to evaluate the effectiveness of a treatment.
Clinical Trial, refers to a research study that evaluates the safety and efficac… #
In Health Economics and Outcomes Research, clinical trials are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include randomized controlled trial, which uses randomization to evaluate the effectiveness of a treatment or intervention, and observational study, which evaluates the outcomes of patients in a real-world setting.
Cluster Analysis, refers to a statistical technique used to group similar cases… #
In Health Economics and Outcomes Research, cluster analysis is often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include factor analysis, which is used to identify underlying factors or dimensions in data, and principal component analysis, which is used to reduce the dimensionality of data and identify patterns or trends.
Cohort Study, refers to a research design in which a group of individuals is fol… #
In Health Economics and Outcomes Research, cohort studies are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include case-control study, which compares cases (individuals with a specific condition or outcome) to controls (individuals without the condition or outcome), and randomized controlled trial, which uses randomization to evaluate the effectiveness of a treatment or intervention.
Coinsurance, refers to a type of cost #
sharing in which patients pay a percentage of the cost of a healthcare service or treatment, coinsurance rate can impact patient out-of-pocket costs and healthcare utilization. In Health Economics and Outcomes Research, coinsurance is often evaluated using cost-benefit analysis and cost-effectiveness analysis, which can help identify the impact of coinsurance on healthcare costs and patient outcomes. Related terms include copayment, which refers to a fixed amount paid by patients for a healthcare service or treatment, and deductible, which refers to the amount that patients must pay out-of-pocket before insurance coverage begins.
Comorbidity, refers to the presence of one or more additional conditions or dise… #
In Health Economics and Outcomes Research, comorbidities are often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the treatments or interventions that provide the greatest value at an acceptable cost. Related terms include multimorbidity, which refers to the presence of multiple chronic conditions, and chronic condition, which refers to a long-term or persistent health condition.
Comparative Effectiveness, refers to the evaluation of the relative effectivenes… #
In Health Economics and Outcomes Research, comparative effectiveness is often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the treatments or interventions that provide the greatest value at an acceptable cost. Related terms include cost-effectiveness, which evaluates the relationship between costs and outcomes, and value-based decision-making, which refers to the use of evidence and analysis to inform healthcare decisions.
Competitive Strategy, refers to a plan or approach used by a company or organiza… #
In Health Economics and Outcomes Research, competitive strategy is often evaluated using market analysis and competitive intelligence, which can help identify the strengths, weaknesses, opportunities, and threats facing a company or organization. Related terms include market share, which refers to the proportion of the market held by a company or organization, and market trends, which refer to the patterns or directions in which the market is moving.
Compliance, refers to the degree to which patients or healthcare providers adher… #
In Health Economics and Outcomes Research, compliance is often evaluated using adherence analysis and persistence analysis, which can help identify the factors that impact compliance and the strategies that can improve it. Related terms include adherence, which refers to the degree to which patients take their medications as prescribed, and persistency, which refers to the duration of time a patient remains on treatment.
Concordance, refers to the degree of agreement or consistency between different… #
In Health Economics and Outcomes Research, concordance is often evaluated using validation studies and reliability analysis, which can help identify the degree of agreement or consistency between different measures or assessments. Related terms include agreement, which refers to the degree of consistency between different measures or assessments, and reliability, which refers to the consistency or dependability of a measure or assessment.
Confidence Interval, refers to a range of values within which a population param… #
In Health Economics and Outcomes Research, confidence intervals are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include standard error, which refers to the standard deviation of the sampling distribution, and p-value, which refers to the probability of observing a result as extreme or more extreme than the one observed, assuming that the null hypothesis is true.
Confounding Variable, refers to a variable that can impact the relationship betw… #
In Health Economics and Outcomes Research, confounding variables are often addressed through the use of stratification and matching techniques, as well as through the careful consideration of potential confounders in the study design and analysis. Related terms include effect modifier, which refers to a variable that can impact the effect of a treatment or intervention, and interaction term, which refers to a term that represents the interaction between two or more variables.
Conjoint Analysis, refers to a statistical technique used to evaluate the relati… #
In Health Economics and Outcomes Research, conjoint analysis is often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include discrete choice experiment, which is used to evaluate the preferences and priorities of patients or healthcare providers, and stated preference, which refers to the preferences or priorities expressed by patients or healthcare providers.
Consumer Preference, refers to the preferences or priorities of patients or heal… #
In Health Economics and Outcomes Research, consumer preference is often evaluated using conjoint analysis and discrete choice experiments, which can help identify the preferences and priorities of patients or healthcare providers. Related terms include patient-centered care, which refers to the delivery of care that is tailored to the needs and preferences of patients, and shared decision-making, which refers to the process of making decisions about care in collaboration with patients.
Contingent Valuation, refers to a method used to estimate the value or willingne… #
In Health Economics and Outcomes Research, contingent valuation is often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include willingness to pay, which refers to the maximum amount that patients or healthcare providers are willing to pay for a healthcare service or treatment, and value-based decision-making, which refers to the use of evidence and analysis to inform healthcare decisions.
Contract, refers to a formal agreement or arrangement between two or more partie… #
In Health Economics and Outcomes Research, contracts are often used to establish the terms and conditions of research studies and trials, as well as to define the roles and responsibilities of the parties involved. Related terms include agreement, which refers to a mutual understanding or shared commitment between two or more parties, and partnership, which refers to a collaborative arrangement between two or more parties.
Control Group, refers to a group of individuals who do not receive the treatment… #
In Health Economics and Outcomes Research, control groups are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include treatment group, which refers to the group of individuals who receive the treatment or intervention being evaluated, and randomization, which refers to the process of assigning individuals to treatment or control groups using chance or random allocation.
Copayment, refers to a fixed amount paid by patients for a healthcare service or… #
In Health Economics and Outcomes Research, copayments are often evaluated using cost-benefit analysis and cost-effectiveness analysis, which can help identify the impact of copayments on healthcare costs and patient outcomes. Related terms include coinsurance, which refers to a type of cost-sharing in which patients pay a percentage of the cost of a healthcare service or treatment, and deductible, which refers to the amount that patients must pay out-of-pocket before insurance coverage begins.
Cost, refers to the amount paid or expended for a healthcare service or treatmen… #
In Health Economics and Outcomes Research, costs are often evaluated using cost-benefit analysis and cost-effectiveness analysis, which can help identify the impact of costs on healthcare outcomes and patient outcomes. Related terms include expenditure, which refers to the amount spent or paid for a healthcare service or treatment, and expense, which refers to the cost or expenditure incurred for a healthcare service or treatment.
Cost #
Benefit Analysis, refers to the evaluation of the costs and benefits of a treatment or intervention, cost-benefit analysis can help inform healthcare decisions and policy. In Health Economics and Outcomes Research, cost-benefit analysis is often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include cost-effectiveness analysis, which evaluates the relationship between costs and outcomes, and return on investment, which refers to the financial return on an investment in a treatment or intervention.
Cost #
Effectiveness, refers to the relationship between the costs and outcomes of a treatment or intervention, cost-effectiveness ratio can help inform healthcare decisions and policy. In Health Economics and Outcomes Research, cost-effectiveness is often evaluated using cost-effectiveness analysis and budget impact analysis, which can help identify the treatments or interventions that provide the greatest value at an acceptable cost. Related terms include cost-benefit analysis, which evaluates the costs and benefits of a treatment or intervention, and value-based decision-making, which refers to the use of evidence and analysis to inform healthcare decisions.
Cost #
Minimization Analysis, refers to the evaluation of the costs of different treatments or interventions, cost-minimization analysis can help identify the least costly treatment or intervention. In Health Economics and Outcomes Research, cost-minimization analysis is often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include cost-effectiveness analysis, which evaluates the relationship between costs and outcomes, and budget impact analysis, which estimates the financial impact of a treatment or intervention on a healthcare system or payer.
Cost #
Utility Analysis, refers to the evaluation of the costs and outcomes of a treatment or intervention in terms of utility or quality of life, cost-utility analysis can help inform healthcare decisions and policy. In Health Economics and Outcomes Research, cost-utility analysis is often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include cost-effectiveness analysis, which evaluates the relationship between costs and outcomes, and quality-adjusted life year, which refers to a measure of the value or utility of a treatment or intervention in terms of quality of life.
Counterfactual, refers to a hypothetical or alternative scenario that is used as… #
In Health Economics and Outcomes Research, counterfactuals are often used to evaluate the effectiveness of treatments or interventions, as well as to identify predictors of treatment response. Related terms include control group, which refers to a group of individuals who do not receive the treatment or intervention being evaluated, and treatment group, which refers to the group of individuals who receive the treatment or intervention being evaluated.
Critical Path, refers to the sequence of steps or activities that are critical t… #
Critical Path, refers to the sequence of steps or activities that are critical to the success of a project or initiative, critical path method can help identify the key steps or activities that must be completed to achieve the desired outcome.