The words to use
- QALY
- Quality-adjusted life year. One QALY is a year in perfect health; each year of life is weighted by a quality-of-life score from 0 to 1.
- Cost-effectiveness threshold
- The cost per QALY above which NICE normally says no. From April 2026 it is £25,000 to £35,000, up from £20,000 to £30,000.
- Opportunity cost
- The health given up elsewhere when money is spent here. In a fixed budget, funding one treatment means care that other patients won't get.
- Individual funding request
- An application for one patient to receive a treatment outside normal local policy, usually on the grounds that their case is exceptional.
- Equity
- Fairness that gives more to those in greater need, rather than exactly the same to everyone.
