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 Econjournal_title
Health economicsauthors
Mason H,Jones-Lee M,Donaldson Cdoi
10.1002/hec.1416subject
Has Abstractpub_date
2009-08-01 00:00:00pages
933-50issue
8eissn
1057-9230issn
1099-1050journal_volume
18pub_type
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