National Centre for Pharmacoeconomics

National Centre for
Pharmacoeconomics

NCPE Ireland

Odds ratio (OR)

A measure of treatment effect that compares the probability of a type of outcome in the treatment group with the outcome of a control group, i.e. [Pt ÷ (1 – Pt)] [Pc ÷ (1 – Pc)].

Opportunity Cost

The amount that could be spent on alternative healthcare strategies if the health technology in question was not used