Is heat dissipation/heat loss a part of this Heat Generation formula?

I have been using a formula to calculate how much heat needs to be generated by a pipe in order to raise the temperature of the water flowing through the pipe by a certain amount, e.g. from $10^o$ C to $30^o$ C.
The formula is here.

In this video, the speaker says “this pipe is heated by uniform heat generation”. She also says that the pipe “ is insulated, which means all the heat is going to go to heating the water within the pipe”.
I want to know if this formula accounts for the Heat Dissipation through the convection in the water going through the pipe. I am thinking that it does not, since the speaker says the heat in the pipe is uniform. Am I correct in thinking this?

The formula is Heat generation in Watts per cubic meter = Heat Transfer rate in Watts divided by Volume in Cubic meters

$$Q_{transfer}=mc_p(T_{out} – T_{in})$$
Where

$m$ = flow rate in kg/s

$c_p $=Heat capacity of water in J/Kg-K

$T_{out}$ = desired temperature in C

$T_{in}$ = starting temperature in C

$$V = frac{pi}{4}(d_{out}^2 – d_{in}^2)l $$
where $d$ stands for diammeter and $l$ for the lenght of pipe.
All in meters

The speaker says “the reason we look at the volume of the pipe wall is that that is where the heat is being generated”. If the temperature of the pipe is uniform in this situation, is it assumed that the pipe receives a constant supply of energy that keeps the pipe temperature from changing? Am I right in thinking that we do not need to calculate the heat loss in the pipe as the heat is dissipated in the water because the energy supply to the pipe, and therefore the heat in the pipe, is assumed to be constant?