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
- Brand TierBrand Drug Tier, Branded Formulary Tier
- A formulary category for brand-name drugs within a tiered insurance design, typically carrying higher cost-sharing than generic drugs in a lower tier.
G
- Generic DrugGeneric Medicine, Multisource Drug
- A pharmaceutical product with the same active ingredient as an approved brand-name drug, demonstrated bioequivalent and typically approved through an abbreviated pathway.
- Generic PricingGeneric Drug Pricing, Off-Patent Pricing
- The pricing strategies applied to generic drugs, typically set substantially below the original brand-name product's price to reflect lower development cost.
- Generic Reference PricingGeneric-Based Reference Pricing, Cluster Reference Pricing
- A reimbursement policy setting a fixed level based on a generic drug's price, requiring patients or the brand manufacturer to cover any difference.
- Generic SubstitutionGeneric Interchange, Generic Swap
- The practice of dispensing a generic drug in place of a prescribed brand-name product, typically permitted once a bioequivalent version is available.
- Generic TierTier 1 Generic, Lowest Cost-Share Tier
- A formulary category for generic drugs within a tiered insurance design, typically carrying the lowest cost-sharing to encourage their use.