Health Points

Health Points, a elongated version of the well known "HP" term in some well know video games.
Defining how much supposed "health" a character has in some sort of game.
Usually, Health Points(HP) is usually a bar that decreases every time you get damaged.
Or do something you are not supposed to to, not wanting the Health Points draining to zero.
When you "Run out of HP(Health Points)" you die in the game, never in real life.

Slang Terms:

When someone says they are "Running low on HP" or "Loosing HP" it means that they do not have many Health Points left, and or actively loosing them as they need assistance quickly because are more vulnerable to die in the game.

When Someone says they "Need HP" or say "I need a Medic/Healer" it is the same as the last one, usually in a game where there is healing involved a player will say this phrase to tell other teammates that they need Health Points fast because they are vulnerable. Hey usually say this because if they don't they'll die in game.

In video games hp stands for health points like in Undertale it says that hp stands for health points and when your hp runs down to zero your character “dies” and comes back to the last check point if you restart.