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The quality-adjusted life year (QALY) is a generic measure of disease burden, including both the quality and the quantity of life lived. [1] [2] It is used in economic evaluation to assess the value of medical interventions. [1] One QALY equates to one year in perfect health. [2] QALY scores range from 1 (perfect health) to 0 (dead). [3]
This approach has to some extent been adopted in relation to QALYs; for example, the National Institute for Health and Care Excellence (NICE) adopts a nominal cost-per-QALY threshold of £20,000 to £30,000. [2] As such, the ICER facilitates comparison of interventions across various disease states and treatments.
Thus, any health intervention which has an incremental cost of more than £30,000 per additional QALY gained is likely to be rejected and any intervention which has an incremental cost of less than or equal to £30,000 per extra QALY gained is likely to be accepted as cost-effective. This implies a value of a full life of about £2.4 million.
QALY: quality-adjusted life year: q.AM: every day before noon (from Latin quaque die ante meridiem) q.d. every day (from Latin quaque die) q.d.s. four times each day (from Latin quater die sumendus) q.h. each hour (from Latin quaque hora) q.h.s. every bedtime (from Latin quaque hora somni) q.i.d. four times each day (from Latin quater in die)
The Health Utilities Index (HUI) is a rating scale used to measure general health status and health-related quality of life (HRQoL). HUI questionnaires are designed to map onto two classification systems, HUI-2 and HUI-3, capable of measuring 24,000 and 972,000 unique health states, respectively.
The most commonly used outcome measure is quality-adjusted life years (QALY). [1] Cost–utility analysis is similar to cost-effectiveness analysis. Cost-effectiveness analyses are often visualized on a plane consisting of four quadrants, the cost represented on one axis and the effectiveness on the other axis. [3]
The Equal Value of Life Years Gained or evLYG is a generic measure used to determine how much a medical treatment can extend the life of the patient. Unlike other healthcare metrics, the evLYG does not consider the quality of life for the patient; it exclusively considers the length of life.
Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives.It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements. [1]