Exploring a new method for deriving the monetary value of a QALY

CJ (Carl) Tilling, Marieke Krol, Arthur Attema, A Tsuchiya, J Brazier, Job van Exel, Werner Brouwer

Research output: Contribution to journalArticleAcademic

10 Citations (Scopus)
2 Downloads (Pure)

Abstract

Several studies have sought to determine the monetary value of health gains expressed as quality adjusted life years (QALYs) gained, predominantly using willingness to pay approaches. However, willingness to pay has a number of recognized problems, most notably its insensitivity to scope. This paper presents an alternative approach to estimate the monetary value of a QALY, which is based on the time trade-off method. Moreover, it presents the results of an online study conducted in the Netherlands exploring the feasibility of this novel approach. The results seem promising, but also highlight a number of methodological problems with this approach, most notably nontrading and the elicitation of negative values. Additional research is necessary to try to overcome these problems and to determine the potential of this new approach.
Original languageEnglish
Pages (from-to)801-809
Number of pages9
JournalEuropean Journal of Health Economics (HEPAC)
Volume17
Issue number7
DOIs
Publication statusPublished - 20 Aug 2015

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