OBJECTIVES:  To assess the impact of recently published (2011) Guidelines for Pharmacoeconomic Evaluations for Serbia and ISPOR Guidelines (2013) on the methods and the conduct of budget impact analysis (BIA) during reimbursement submission. METHODS: We investigated how many reimbursement submissions were made with an accompanying BIA to the Health Insurance Fund in Serbia from 2012 till June 2013.   RESULTS: There were 306 submissions in 2012 and 2013 and none of those had a thorough and complete BIA submitted. There were 65 new drugs (international non-proprietary names (INNs)) added to the Reimbursement list in 2012 and 5 new drugs (INNs) in April 2013. Possible reason for a non-complete BIAs was that it is not an obligatory part of the submission dossier. It is recommended at this moment, but the plan is to make it an obligatory part. BIA simply quantifies the financial consequences of using health-care services, comparing reference with anticipated scenario. Currently there is no template for the BIA, just recommendations how to address time horizon, target population, costing, scenarios and discounting. This could be one of the reasons why most of the submissions had almost complete pharmacoeconomics evaluation.   CONCLUSIONS: The availability of a template for BIA would increase transparency, the quality of submissions and promote its use. The audience includes those who develop, submit or use budget impact models and committees who evaluate reimbursement submissions. With a use of Guidelines for Pharmacoeconomic Evaluations, ISPOR Guidelines and proposed BIA template (which will be published in the updated version of the Guidelines for Pharmacoeconomic Evaluations) the quality of submissions to the HIF in Serbia would be raised and the decision time could be reduced.