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

Mason, Helen; Jones‐Lee, Michael; Donaldson, Cam

doi:10.1002/hec.1416

Cited by 97 publications

(110 citation statements)

References 21 publications

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“…To value QALYs in monetary terms, the social value of a quality adjusted life year can be used-work on valuing QALYs is less developed than that for valuing statistical lives, but some estimates do exist. For example, Mason et al (2009) compare the value for life years and the value of QALYs and find that the QALYs may be worth between £34,925 and £70,896 and life years £29,691-£57,569.…”

Section: Mortalitymentioning

confidence: 99%

Wellbeing and Society: Towards Quantification of the Co-benefits of Wellbeing

Maccagnan

Wren-Lewis²,

Brown³

et al. 2018

Soc Indic Res

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The objectives of this paper are twofold. First, it reviews the empirical evidence showing the existence of linkage between wellbeing and possible co-benefits, investigating in particular the positive effect that happiness and life satisfaction can have on health, social outcomes, employment, education and environmental behaviours. Second, it presents the valuation methods that have been proposed in the literature to place a monetary value on these outcomes. With wellbeing having become more and more relevant for individuals and policy makers, the full understanding of the co-benefits of wellbeing is central for the design and development of wellbeing interventions. As a consequence, the evaluation of the co-benefits of wellbeing is of crucial importance for the appropriate allocation of resources towards such strategies.

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Section: Mortalitymentioning

confidence: 99%

Wellbeing and Society: Towards Quantification of the Co-benefits of Wellbeing

Maccagnan

Wren-Lewis²,

Brown³

et al. 2018

Soc Indic Res

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“…This is an area of research in its own right. Applying the method of estimating the WTP based on the existing value of preventing a statistical fatality, Mason et al suggested that the WTP for a discounted QALY was nearly £69,000 (without adjustments) and £31,000 (with age adjustment, apply for young adults) [75]. Using the same technique but in Swedish population, Johannesson and Meltzer estimated a WTP per QALY gained of around US $90,000 [28].…”

Section: Citationmentioning

confidence: 99%

A Critical Review of Economic Evaluations of Trastuzumab in the Treatment of Early Stage HER2 Positive Breast Cancer

Nguyen¹,

Nguyen²,

O'Neill³

2017

Pharmacoeconomics

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Eleven years after Trastuzumab was approved for use in the treatment of early stage human epidermal growth factor receptor positive breast cancer (HER2+) its clinical benefit has been demonstrated in short and long term follow up studies. The cost-effectiveness of the therapy in this context remains the subject of debate with a wide range of Incremental Cost Effectiveness Ratios (ICERs) reported in the literature. While several reviews of the literature have been undertaken these have not provided a critical analysis of the factors that might underlie this heterogeneity. In this review we provide a critical overview of the literature and discuss potential sources of heterogeneity in reported ICERs. We identify gaps in the current literature and provide a rationale for filling these gaps.

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“…Revealed preference or contingent valuation (stated preferences) studies (97,(290)(291)(292) have been used to directly elicit the monetised value of a QALY. Revealed preference studies are based on real world market transactions that represent actual risk-taking behaviours (97, 293).…”

Section: Conversely Others (Johannesson and Jönssonmentioning

confidence: 99%

“…In welfare economics such utility value represents the societal willingness to pay to benefit from an intervention's outcome (97). Hence, for CBAs of health related initiatives, methods are needed to elicit a monetary value as a measure of what society is willing to sacrifice in order to gain an improvement in health.To date, the literature presents the monetary value of a quality-adjusted life year (QALY), which like our estimated HALYs represents the length and quality of life (97,(290)(291)(292). Another population health measure that represents length and quality of life is the disability-adjusted life year (DALY).…”

mentioning

confidence: 99%

“…Another approach is to derive it from the monetary value of a prevented fatality, also referred to as the value of statistical life (VSL). It is important to note that the VSL is also derived using survey methods.Revealed preference or contingent valuation (stated preferences) studies (97,(290)(291)(292) have been used to directly elicit the monetised value of a QALY. Revealed preference studies are based on real world market transactions that represent actual risk-taking behaviours (97, 293).…”

mentioning

confidence: 99%

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Modelling the health and economic impact of built environment interventions

Diomedi¹,

Belén²

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BackgroundIn Australia, over half (57%) of the adult population is not meeting national physical activity guidelines. This is concerning, given that physical inactivity is a well-known preventable risk factor for several chronic diseases. Physical inactivity was estimated to cost Australians 124,000 disability-adjusted life years annually (2015) and a significant proportion of the healthcare budget. Furthermore, physically inactive people are more likely to be absent from work, underperform, or both, impacting negatively on their career prospects and national output.In Australia, the majority of the people live in urban areas (90%) and population projections show significant growth in its main cities. Hence, shaping cities such that they contribute to healthy behaviours is key to building a healthy and prosperous population. The research community can contribute to a healthy expansion of Australian cities by producing context specific evidence for the potential of the built environment to enhance population health. AimsThe overall aim of this thesis is to contribute to the evidence on the potential health and economic benefits of investing in built environments that are supportive of physical activity. ii MethodsTwo systematic reviews were conducted to address RQ 1 and 3, applying rigorous methods to ensure objectivity in the selection of literature. For RQ 2, 4 and 5, a multi-state life-table modelling approach, developed as part of the Assessing Cost Effectiveness in Prevention study, was updated and expanded. For RQ 2, the model was used to estimate health-adjusted life years (HALYs) and healthcare costs attributable to changes in exposure to attributes of the built environment within the neighbourhood area. For RQ 4, the methods applied to answer RQ 2 were expanded, and describe a method to estimate the health benefits of physical activity that can be included in cost-benefit analyses of built environment interventions. Lastly, the model is significantly expanded for RQ 5, with the addition of exposure to air pollution and road trauma. These are added to physical activity to assess the likely overall health impact of Brisbane achieving its proposed travel targets (15% of trips walking, 5% cycling and 14% using public transport). Main findingsFor the Australian setting, recent evidence indicates that features of the built environment in neighbourhoods, including the availability of destinations and diverse use of lands, can support physical activity, and especially walking (RQ 1). Improvements in the built environment within the neighbourhood can therefore significantly contribute to population health (RQ2). However, it is uncertain whether improved health will translate into healthcare costs savings, as initial reductions may be offset by healthcare costs in added life years. The evidence demonstrating the economic merit of active transport interventions has been growing markedly over the last 10 years (RQ3). Cost-benefit analysis is a widely used method for the economic appraisal of interventions ...

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

Cited by 97 publications

References 21 publications

Wellbeing and Society: Towards Quantification of the Co-benefits of Wellbeing

Wellbeing and Society: Towards Quantification of the Co-benefits of Wellbeing

A Critical Review of Economic Evaluations of Trastuzumab in the Treatment of Early Stage HER2 Positive Breast Cancer

Modelling the health and economic impact of built environment interventions

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