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.
A
- Affordability ThresholdBudget-Impact Threshold, Total-Cost Ceiling
- The level of budget impact beyond which a payer considers a new technology's total cost unsustainable, regardless of its individual cost-effectiveness.
- Assessment ElementAssessment Domain, Assessment Component
- A specific, defined component of an assessment framework, such as clinical effectiveness or budget impact, evaluated separately before synthesis.
B
- Budget ImpactBudgetary Impact, Spending Impact
- Budget impact is the change in expenditure expected for a specified budget holder when a health technology, programme, or policy is introduced compared with the current or alternative funding scenario.
- Budget Impact AnalysisBIA, Budget Impact Assessment
- An assessment of how adopting a health technology or policy would change spending for a particular budget holder over a specified period.
- Budget Impact CriterionBudget-Impact Threshold Criterion, BIA Criterion
- A standard determining whether a new technology's projected budget impact is significant enough to warrant additional scrutiny or a modified pathway.
- Budget Impact ModelBIM, Budget Impact Spreadsheet
- A budget impact model estimates how introducing, removing, or changing use of a health technology will alter expenditure for a specified budget holder over a short- to medium-term planning horizon.
- Budget Impact Model PharmaManufacturer Budget Impact Model, Pharma BIM
- A budget impact model developed by a pharmaceutical manufacturer to project a product's financial consequences, typically submitted alongside a cost-effectiveness analysis.
- Budget Impact ModellingBudget Impact Modeling, BIA Modelling
- The practice of building and applying budget impact models to estimate the financial consequences of adopting a health technology.
- Budget Impact RequirementsBIA Submission Standards, Budget-Impact Evidence Requirements
- The specific evidentiary and methodological standards a body requires a manufacturer's budget impact submission to meet, covering time horizon and scenarios.
D
- Digital Budget ImpactDigital BIA, Digital Health Budget Impact
- The application of budget impact analysis to digital health technologies, such as remote monitoring platforms or software-based interventions.
G
- Generic Entry ImpactGeneric Competition Impact, Post-Patent Impact
- The effect generic competition has on a drug's market price, utilisation, and overall budget impact, typically bringing substantial price declines.
N
- Net Budget ImpactNet BIA Result, Incremental Budget Impact
- The overall change in spending from adopting a new technology, after accounting for offsetting savings elsewhere, such as avoided hospital admissions.
P
- Payer Value MessagePayer-Focused Value Message, Reimbursement Value Story
- A concise statement summarising a technology's value specifically framed to address payer priorities, such as budget impact and cost-effectiveness.
- Price CutMandated Price Decrease, Price Lowering
- A reduction in a drug's price, whether voluntary or mandated, affecting a treatment's ongoing cost-effectiveness and overall budget impact.
T
- Technology IncidenceTechnology Introduction Rate, New-Tech Entry Rate
- The rate at which a new health technology is adopted into clinical practice over time following its introduction, an input to budget impact models.
- Topic PrioritisationTopic Ranking, Assessment Prioritisation
- The process of ranking candidate assessment topics by criteria such as clinical importance and budget impact, given limited assessment capacity.