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

Lookup NU author(s): Dr Helen Mason, Emeritus Professor Michael Jones-Lee, Professor Cam Donaldson

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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 Lis well as the implications of the results for policy and health economic evaluation methodology. Copyright (C) 2008 John Wiley & Sons, Ltd.

Publication metadata

Author(s): Mason H, Jones-Lee M, Donaldson C

Publication type: Article

Publication status: Published

Journal: Health Economics

Year: 2009

Volume: 18

Issue: 8

Pages: 933-950

ISSN (print): 1057-9230

ISSN (electronic): 1099-1050

Publisher: John Wiley & Sons Ltd.

URL: http://dx.doi.org/10.1002/hec.1416

DOI: 10.1002/hec.1416

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