Modelling the monetary value of a QALY: a new approach based on UK data.

Abstract:

:Debate about the monetary value of a quality-adjusted life year (QALY) has existed in the health economics literature for some time. More recently, concern about such a value has arisen in UK health policy. This paper reports on an attempt to 'model' a willingness-to-pay-based value of a QALY from the existing value of preventing a statistical fatality (VPF) currently used in UK public sector decision making. Two methods of deriving the value of a QALY from the existing UK VPF are outlined: one conventional and one new. The advantages and disadvantages of each of the approaches are discussed as well as the implications of the results for policy and health economic evaluation methodology.

journal_name

Health Econ

journal_title

Health economics

authors

Mason H,Jones-Lee M,Donaldson C

doi

10.1002/hec.1416

subject

Has Abstract

pub_date

2009-08-01 00:00:00

pages

933-50

issue

8

eissn

1057-9230

issn

1099-1050

journal_volume

18

pub_type

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