HEOR is a multidisciplinary field that assesses the value of healthcare interventions by examining their costs, outcomes, and the overall impact on healthcare systems and society. It utilizes economic principles to inform decision-making in healthcare.
CEA compares the costs of different interventions with their outcomes, often measured in terms of cost per unit of health gain (e.g., cost per quality-adjusted life year).
QALY is a measure of disease burden, including both the quality and the quantity of life lived. It combines the impact of disease on both mortality and morbidity into a single index.
ICER calculates the additional cost required to gain one additional unit of outcome (e.g., one additional QALY) when comparing two interventions.
BIA estimates the financial consequences of adopting a new healthcare intervention within a specific budgetary constraint, typically over a predefined time horizon.
PROs are measures of health status or quality of life directly reported by patients, providing valuable insights into the impact of disease and treatment from the patient’s perspective.
HRQoL represents the overall well-being of individuals in relation to their health status, encompassing physical, mental, emotional, and social aspects of health.
RWE refers to data collected outside the controlled environment of clinical trials, providing insights into the effectiveness, safety, and economic value of healthcare interventions in real-world settings.
VBHC aims to optimize healthcare delivery by focusing on outcomes that matter to patients while minimizing costs, thereby maximizing the value of healthcare services provided.
Decision-analytic models are mathematical representations used to simulate and evaluate the long-term outcomes and costs associated with different healthcare interventions, aiding decision-making under uncertainty.