Glossary: Cost-Effectiveness Analysis III
2022
This glossary of terms supports the teaching pack on Cost-Effectiveness Analysis III, in which students are introduced to the different types of costs that are included in a cost-effectiveness analysis and learn how the perspective of the analysis helps to determine which costs would be included. Additionally, students learn the three basic steps to costing, identifying costs, measuring costs, and valuing costs, and become familiar with the recommendations of both the original and the more recent Panel on Cost-Effectiveness in Health and Medicine on conducting cost-effectiveness analyses. In addition to the glossary, materials include an instructor's note, videos, companion slides, an annotated bibliography, and sample exercises.
Glossary of Terms
- Analytic horizon
- Analytic perspective
- Average cost
- Charge/price
- Contingent valuation
- Cost of lost time
- Cost per QALY
- Cost to charge ratio
- Cost-effectiveness analysis
- Cost-effectiveness ratio
- Cost-effectiveness threshold
- Costs
- Depreciation
- Direct costs
- Direct medical costs
- Direct nonmedical costs
- Discounting
- Economic efficiency
- Efficient frontier
- Extended (weak) dominance
- Externality
- Future health care costs
- Incremental cost
- Incremental cost-effectiveness ratio (ICER)
- Indirect costs
- Inflation adjustment
- Keeler-Cretin paradox
- Marginal social cost
- Micro-costing
- Net benefit
- Net future value
- Net present value
- Nominal price
- Opportunity cost
- Perspective
- Present value
- Productivity costs
- Shadow prices
- Social cost
- Societal perspective
- Strong dominance
- Time horizon
- Time preference
- Total cost
- Willingness to accept (WTA)
- Willingness to pay (WTP)
This teaching pack was developed by Sue J. Goldie at the Center for Health Decision Science, Harvard T.H. Chan School of Public Health. The multimedia components were developed as part of a series of pilots in the CHDS Media Hub, led by Jake Waxman, where media-based pedagogy experiments contribute to new ways of thinking about short form content.
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Source:
Glossary. Teaching Pack: Cost-Effectiveness Analysis III. Center for Health Decision Science, Harvard T.H. Chan School of Public Health 2022. https://repository.chds.hsph.harvard.edu/repository/2877