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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 ]
This makes it different from the UK's National Institute for Health and Clinical Excellence, which determines cost-effectiveness directly based on quality-adjusted life year valuations. The Prevention and Public Health Fund was created to fund programs and research designed to increase chronic disease prevention. [9] [10] [11]
The Equal Value of Life Years Gained, or evLYG, is a measurement system proposed by ICER which measures how much a medical treatment can extend the life of the patient. The evLYG measures the cost of a treatment per life year gained regardless of the quality of life provided by that treatment. [ 12 ]
One example of cost-effective analysis in regard to health care is the concept of quality-adjusted life years or QALY. QALY is a measure of benefit from treating or allocating resources to individuals based on the comparison of each individuals alternative outcome.
Because EQ-5D has values attached to its health states, it is widely used in the economic evaluation of health care interventions, where the convention is to measure health gains as value-weighted time using quality-adjusted life years (QALYs). [citation needed] The values can also inform other research, such as studies in the burden of illness.
The estimates are either for one year of additional life or for the statistical value of a single life. $50,000 per year of quality life (the "dialysis standard", [39] which had been a de facto international standard most private and government-run health insurance plans worldwide use to determine whether to cover a new medical procedure) [40]
Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect. 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 ...
The study based on data from 188 countries, considered to be the largest and most detailed analysis to quantify levels, patterns, and trends in ill health and disability, concluded that "the proportion of disability-adjusted life years due to YLDs increased globally from 21.1% in 1990 to 31.2% in 2013."