HEOR Article Notes Intricacies of Well-Being Valuation Approach to Quantitatively Determine Healthcare Value

A recent article, published in Health Economics, considers methods used to assess healthcare value and therapeutic cost-effectiveness. The researchers used German data to determine euros per quality adjusted life years (QALY). They discuss the inherent challenges of the well-being valuation approach.

The authors state, “Decisions on interventions or policy alternatives affecting health can be informed by economic evaluations, like cost-benefit or cost-utility analyses. In this context, there is a need for valid estimates of the monetary equivalent value of health (gains), which are often expressed in € per quality-adjusted life years (QALYs). Obtaining such estimates remains methodologically challenging, with a recent addition to the health economists’ toolbox, which is based on well-being data: The well-being valuation approach.” Read the full article here.

(Source: Himmler et al., Health Economics, 5/5/21)