Glossary

Health Economics

Blog posts on Health Economics: 

• Prevention not reaction: Why investing in vaccination programs pays off 
• Paradigm shift in health: How to quantify the Social Impact of medical innovations 
• From traditional reporting to the Value of Impacts: Novartis' Impact Valuation
  
   
  

  Direct effects	Direct effects describe the immediate economic impact, measured in terms of gross value added, generated by individuals, companies or industries on the national economy.
  Gross value added (GVA)	Gross value added (GVA) is the economic indicator for the value of goods and services produced in an area, an industry, or a sector of an economy. It is calculated by deducting all intermediate inputs from the production values and includes only the added value created in the production process.
  Health Technology Assessment	Health Technology Assessment (HTA) or medical technology impact assessment usually refers to the systematic, evidence-based evaluation of health technologies, procedures, aids and organizational structures for the provision of medical services with regard to their effects on health care. In addition to medical benefits, economic, ethical, social, and other effects can also be taken into account.
  Incidence	The incidence describes the relative frequency of disease cases occurring in a population (incidence cases) over a certain period of time. It is usually reported as the number of new cases occurring per 100,000 people in a given period. Along with prevalence, it is one of the central metrics for describing and analyzing the spread of a disease in a population group.
  Materiality Assessment	Materiality Assessment is a tool for identifying and evaluating potential environmental, social and governance issues that could impact a company and/or its stakeholders. It helps to understand the relative importance of specific ESG and sustainability issues that drive corporate strategy, goals and reporting.
  Patient-Reported Outcome (PRO)	Patient-Reported Outcome (PRO) is used as a generic term for various concepts for measuring subjectively perceived health conditions. It is characterized by patients' self-assessment of the perception and treatment of their illness.
  Prevalence	The Prevalence is the proportion of a particular population group affected by a disease. It is calculated as the number of people affected by a disease in relation to the total number of people examined and is usually expressed as a fraction, a percentage or the number of cases per 10,000 or 100,000 people. Along with incidence, prevalence is one of the most important metrics for describing and analyzing the spread of disease.
  Work Productivity and Activity Impairment Questionnaire (WPAI)	The abbreviation WPAI stands for “Work Productivity and Activity Impairment Questionnaire”. These are questionnaires in which patients indicate the extent to which a disease prevents them from performing daily activities. The questionnaire measures limitations in occupational activities as well as everyday activities such as housework or physical activity. WPAIs are used to assess the impact of an intervention on work productivity in patients with a particular disease.