GLOSSARY
T
| Term | Definition |
|---|---|
| TEC (Technology Evaluation Committee) |
A committee, established by a payer (such as Blue Cross Blue Shield) that evaluates a medical device or procedure to assess whether to pay for the device or procedure and how much. |
| Term sheet |
A document that outlines the terms for a deal and serves as a letter of intent between the investor providing funds and the company receiving them. Terms may include percentage ownership in the company, intellectual property division and other financial and legal concerns. |
| Third-party payer |
Insurance companies (both public and private) who pay on behalf of the patient. |
| Time to profitability |
The amount of time it takes a company to break even, and then turn a consistent operating profit. |
| Top down model |
A sales forecast model that forecasts projected yearly revenue by multiplying the number of customers by the price of the innovation. |
| Trade secret |
Information, processes, techniques, or other knowledge that is not made public but provides the innovator with a competitive advantage. |
| Trade secret protection |
Used in suits when another entity has wrongfully obtained trade information; not protected by government grant as patents are. |
| Translate |
To move an idea, device or other discovery into practice so that it may affect human lives. |
| Treatment gap analysis |
Reviewing methods of treatment for a particular disease in order to uncover areas where treatment is not used or where it is not effective in order to find areas for innovation. |