Tilling, C., Krol, M., Attema, A.E. et al. (4 more authors) (2015) Exploring a new method for deriving the monetary value of a QALY. The European Journal of Health Economics. ISSN 1618-7598
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.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © The Author(s) 2015. This article is published with open access at Springerlink.com under the terms of the CC BY Attribution licence (Creative Commons Attribution 4.0 International) |
Keywords: | Time trade-off method; QALY; Willingness to pay |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Medicine, Dentistry and Health (Sheffield) > School of Health and Related Research (Sheffield) > ScHARR - Sheffield Centre for Health and Related Research The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Funding Information: | Funder Grant number DEPARTMENT OF HEALTH NONE |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 02 Feb 2016 14:57 |
Last Modified: | 02 Feb 2016 14:57 |
Published Version: | http://dx.doi.org/10.1007/s10198-015-0722-9 |
Status: | Published |
Publisher: | Springer Verlag |
Refereed: | Yes |
Identification Number: | 10.1007/s10198-015-0722-9 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:93838 |