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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 ]
Research by the University of York identified that the cost per quality adjusted life year for changes in existing NHS expenditure in 2008 was £12,936 leading to concerns new treatments approved by NICE at £30,000 per quality adjusted life year are less cost-effective than spend on existing treatments.
In HTAs it is usually expressed in quality-adjusted life years (QALYs). If, for example, intervention A allows a patient to live for three additional years than if no intervention had taken place, but only with a quality of life weight of 0.6, then the intervention confers 3 * 0.6 = 1.8 QALYs to the patient.
Typically the CEA is expressed in terms of a ratio where the denominator is a gain in health from a measure (years of life, premature births averted, sight-years gained) and the numerator is the cost associated with the health gain. [2] The most commonly used outcome measure is quality-adjusted life years (QALY). [1]
The Short Form (36) Health Survey is a 36-item, patient-reported survey of patient health. The SF-36 is a measure of health status and an abbreviated variant of it, the SF-6D, is commonly used in health economics as a variable in the quality-adjusted life year calculation to determine the cost-effectiveness of a health treatment.
The Global Burden of Disease Study (GBD) 2001–2002 counted disability adjusted life years equally for all ages, but the GBD 1990 and GBD 2004 studies used the formula [15] W = 0.1658 Y e − 0.04 Y {\displaystyle W=0.1658Ye^{-0.04Y}} [ 16 ] where Y {\displaystyle Y} is the age at which the year is lived and W {\displaystyle W} is the value ...
Operating income was $67.2 million, an increase of 69% year over year compared to $39.8 million in the same period last year. Fourth quarter operating margin was 14.6%, an increase of 360 basis ...
The value of statistical life (VSL) estimates are often used in the transport sector [16] and in process safety (where it may be coupled with the ALARP concept). [4] In health economics and in the pharmaceutical sector, however, the value of a quality-adjusted life-year (QALY) is used more often than the VSL. Both of these measures are used in ...