Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
B
- Benefit LimitTermBenefit Cap, Coverage Ceiling
- A maximum amount, in money or number of services, that an insurance plan will pay for a specific care category within a defined period.
- Benefit PackageTermBenefits Package, Covered Services Set
- The defined set of healthcare services a health plan or public system agrees to cover for its enrolled population.
- Benefit PeriodTermCoverage Period, Benefit Year
- A defined span of time, such as a calendar year, over which specific insurance terms, such as deductibles, apply before resetting.
- Benefit RatingTermBenefit Grade, Clinical Value Grade
- A formal classification reflecting a technology's clinical benefit magnitude relative to existing options, used to inform pricing and reimbursement.
- Benefit TransferConceptBenefits Transfer, Value-Estimate Transfer
- The practice of applying value estimates from one study context to a different but related policy context, rather than conducting a new valuation study.
- Benefit-Cost RatioConceptBCR, Cost-Benefit Ratio
- Benefit-cost ratio (BCR) is a health programme's monetised benefits divided by its costs, in present values, used to summarise a cost-benefit analysis.
- Benefit-Risk AssessmentTermBenefit-Risk Analysis, Risk-Benefit Assessment
- A structured evaluation comparing a technology's expected clinical benefits against its potential harms, used to inform approval and coverage decisions.
- Bereavement SupportTermGrief Support, Bereavement Care
- Services provided to family members after a patient's death, intended to help them cope with grief, commonly part of hospice care.
- Best Available TreatmentTermBAT, Best Available Therapy
- The most effective treatment currently accessible for a condition, used as the comparator against which a new intervention's incremental value is assessed.
- Best Case AnalysisTermBest-Case Analysis, Optimistic Analysis
- A sensitivity analysis setting every uncertain input simultaneously to the value most favourable to the intervention, producing the most optimistic result.
- Best Case ScenarioTermOptimistic Scenario, Best-Case Assumptions
- A combination of input assumptions representing the most favourable plausible circumstances for an intervention, used to illustrate a model's upper result bound.
- Best Interest StandardTermBest Interests Principle, Patient Best-Interest Test
- A decision-making principle for a surrogate acting for a patient lacking capacity, choosing the option that would most benefit their overall wellbeing.
- Best PracticeTermLeading Practice, Proven Practice
- A method that has consistently demonstrated superior results compared to alternatives, typically identified through rigorous evidence and professional consensus.
- Best Practice AlertTermBPA, Care Reminder Alert
- A computerised clinical decision support notification reminding a provider of a recommended, evidence-based action at an appropriate workflow point.
- Best Practice IdentificationTermBest-Practice Discovery, Leading-Practice Identification
- The process of systematically identifying methods that have consistently demonstrated superior results, through rigorous evidence review and professional consensus.
- Best PriceTermLowest Acquisition Price, Manufacturer Lowest Price
- A US Medicaid pricing benchmark, the lowest price a manufacturer sells a drug to any purchaser, used to calculate required rebates.
- Best Supportive CareTermSupportive Care Only, Symptom-Directed Care
- A treatment approach focused entirely on symptoms and quality of life, without treating the cancer itself, for patients unable to tolerate further treatment.
- Best-in-ClassTermClass-Leading Treatment, Superior-in-Class Agent
- A designation for the most effective or otherwise superior treatment within its therapeutic class, unlike a first-in-class treatment with a wholly new mechanism.
- Best-Worst ScalingConceptBWS, MaxDiff Scaling
- Best-worst scaling (BWS) is a stated preference method in which people pick the best and worst item in each set, to rank priorities or value health states.
- Beta DistributionConceptBeta Probability Distribution, Beta Density
- The beta distribution is a probability distribution on values between zero and one, used in decision models to represent uncertainty in probabilities.
- Beta LevelConceptBeta Error Rate, Type II Error Probability
- The predetermined acceptable probability of failing to detect a true effect, with one minus beta defining a study's statistical power.
- Between-Patient AnalysisTermBetween-Group Analysis, Parallel-Group Comparison
- A statistical comparison examining outcome differences across separate groups of different patients, unlike a within-patient comparison of the same individuals over time.
- Between-Study HeterogeneityConceptStudy Heterogeneity, Inter-Study Variation
- Between-study heterogeneity is variation in the underlying effects or parameters across studies beyond the variation expected from within-study sampling error.
- Between-Subject VariationConceptInter-Individual Variation, Between-Person Variability
- Between-subject variation is how much costs or outcomes differ from one patient to another, as opposed to variation in one person's repeated measurements.
- Beveridge ModelConceptTax-Funded Model, National Health Service Model
- The Beveridge model is a health system funded mainly by general taxation, with universal entitlement and largely public provision, as in the UK NHS.
- BiasTermSystematic Deviation, Non-Random Error
- A systematic, rather than random, deviation of a study's results from the true underlying value, arising from flaws in design, collection, or analysis.
- Bias-Variance TradeoffConceptBias-Variance Dilemma, Bias-Variance Balance
- The bias-variance tradeoff is how cutting systematic error (bias) tends to raise sampling variance, as in choosing HTA survival curves or subgroup inputs.
- Biliary EconomicsTermBile Duct Economics, Gallbladder Economics
- The application of health economic evaluation to conditions affecting the bile ducts and gallbladder, including gallstone disease and biliary obstruction.
- Billed ChargesTermCharge Master Amount, Gross Charges, Charge
- The amount a provider bills for a service, which often bears little relation to actual cost or the amount an insurer ultimately pays.
- Binomial DistributionConceptBinomial Model, Binomial Probability Distribution
- The binomial distribution models how many of a fixed number of patients have an event when each has the same probability and outcomes are independent.
- BioavailabilityTermSystemic Availability, Bioavailable Fraction
- The proportion of an administered drug dose that reaches the systemic circulation in an active form, influenced by administration route and absorption.
- Biobank DataTermBiobank Records, Biorepository Data
- Biological samples and associated health information collected from many individuals and stored for future research, often linked to genetic and clinical data.
- Biochemical ResponseTermBiochemical Marker Response, Laboratory Response
- A clinical outcome measure indicating a change in a laboratory-measured biochemical marker, such as a hormone or enzyme level, following treatment.
- BioequivalenceTermBioequivalent, Pharmaceutical Equivalence
- A regulatory standard requiring a generic product deliver the same amount of active ingredient at a similar rate as the reference product.
- BioethicsTermHealth Care Ethics, Medical Ethics
- In health economics, the study of ethical issues in health care, research and resource allocation, providing the normative grounding for priority setting and rationing.
- BiologicTermBiological Drug, Biologic Drug, Biological Product
- A medicinal product derived from living organisms, such as a protein, antibody, or vaccine, produced through biotechnological processes rather than chemical synthesis.
- Biological TherapyConceptBiologic Therapy, Biotherapy
- Treatment using a medicinal product made from or derived from a biological source, assessed for a specific indication, delivery pathway and patient outcome.
- BiomarkerTermBiological Marker, Molecular Marker
- A measurable biological indicator, such as a molecule or gene, objectively assessed to evaluate a normal process, disease, or treatment response.
- Biomarker DevelopmentTermBiomarker Discovery, Biomarker Validation
- The process of identifying, validating, and establishing the clinical utility of a biological indicator used to diagnose disease or predict treatment response.
- Biomarker EndpointConceptBiomarker Outcome, Biomarker-Based Endpoint
- An outcome measure based on a biological indicator, such as a lab test or imaging finding, used to assess a treatment's effect on physiology.
- Biomarker Testing EconomicsTermBiomarker Diagnostics Economics, Molecular Testing Economics
- The application of health economic evaluation to diagnostic tests identifying molecular or genetic markers used to guide treatment selection, most commonly in oncology.
- BiosimilarTermFollow-on Biologic, Subsequent Entry Biologic
- A biological product highly similar to an approved reference biologic, with no clinically meaningful differences in safety, purity, or potency.
- Biosimilar ApprovalTermBiosimilar Authorisation, Biosimilar Licensing
- The regulatory process by which a biosimilar, highly similar to an approved reference biologic with no meaningful clinical differences, gains marketing authorisation.
- Biosimilar PricingTermBiosimilar Price Strategy, Biosimilar Discounting
- The pricing strategies applied to biosimilar products, typically launched at a discount to the reference biologic's price to encourage uptake.
- Biosimilar SubstitutionTermBiosimilar Interchange, Biosimilar Switching
- Dispensing a biosimilar in place of a prescribed reference biologic without prescriber intervention, permitted only for biosimilars with interchangeability designation.
- Biosimilar UptakeTermBiosimilar Adoption, Biosimilar Penetration
- The rate at which a biosimilar is adopted into clinical use after market entry, influenced by pricing, physician familiarity, and payer policy.
- Bipolar EconomicsTermBipolar Disorder Economics, Manic Depression Economics
- The application of health economic evaluation to bipolar disorder, a chronic condition of alternating mania and depression episodes.
- Bismarck ModelTermSocial Insurance Model, Sickness-Fund Model
- A financing model, from Germany's 1883 legislation, funding healthcare through mandatory contributions to competing non-profit funds, with mixed provider delivery.
- BLA SubmissionTermBiologics License Application, BLA Filing
- The formal Biologics License Application submitted to regulators seeking approval to market a new biological product, detailing safety, efficacy, and manufacturing quality.
- Black Box ModelTermOpaque Model, Non-Transparent Model
- A model whose internal calculations and structure are not visible to external reviewers, so only its inputs and outputs can be observed.