Monetary value of quality-adjusted life years (QALY) among patients with cardiovascular disease: a willingness to pay study

Authors

  • Alireza Olyaeemanesh Health Economics Department, National Institute for Health Research, Tehran University of Medical Sciences
  • Hamid Rasekh School of Pharmacy ,Shahid Beheshti University of medical sciences
  • Mahnoosh Foroughi cardiovascular research center, Shahid Beheshti University of medical sciences
  • najmeh moradi School of Pharmacy ,Shahid Beheshti University of medical sciences
Abstract:

The aim of this study was to estimate monetary value of a QALY among heart disease patients and to identify its determinants.A cross-sectional survey with face-to-face interview was conducted with 196 cardiovascular disease patients from two heart hospitals in Tehran, Iran, to estimate the value of QALY using disaggregated and aggregated approaches. The Euro Qol -5d (EQ-5D) questionnaire, visual analogue scale (VAS), time trade-off (TTO) and contingent valuation WTP techniques were employed to, first, elicit patients’ preferences and to estimate WTP for QALY. The association of patients’ characteristics with WTP for QALY was assessed using the Heckman selection model. Mean willingness to pay per QALY estimated by the disaggregated approach ranged from 2,799 to 3599 US dollars. It is higher than the values estimated from aggregated methods (2,256 to 3,137 USD). In both approaches, the values were less than one gross domestic product (GDP) per capita of Iran. Significant variables were current health state, education, age, marital status, number of comorbidities, and household’s cost group. Our results challenge two major issues: the first is a policy challenge which concerns the WHO recommendation on using less than 3 GDP per capita as a cost-effectiveness threshold value. The second is an analytical challenge related to patients with zero QALY gain. More scrutiny is suggested on the issue of how patients with full health state valuation should be dealt and with what arbitrary value could be included in the estimation value of QALY when disaggregated approach was used.

Upgrade to premium to download articles

Sign up to access the full text

Already have an account?login

similar resources

Monetary Value of Quality-Adjusted Life Years (QALY) among Patients with Cardiovascular Disease: a Willingness to Pay Study (WTP)

The aim of this study was to estimate the monetary value of a QALY among patients with heart disease and to identify its determinants. A cross-sectional survey was conducted through face-to-face interview on 196 patients with cardiovascular disease from two heart hospitals in Tehran, Iran, to estimate the value of QALY using disaggregated and aggregated approaches. The EuroQol-5 Dimension (EQ-5...

full text

Willingness to pay per quality-adjusted life year for life-saving treatments in Thailand

OBJECTIVE To estimate the willingness to pay (WTP) per quality-adjusted life year (QALY) value for life-saving treatments and to determine factors affecting the WTP per QALY value. DESIGN A cross-sectional survey with multistage sampling and face-to-face interviews. SETTING General population in the southern part of Thailand. PARTICIPANTS A total of 600 individuals were included in the st...

full text

Health-Related Quality of Life and Willingness to Pay per Quality-Adjusted Life-Year Threshold—A Study in Patients with Epilepsy in China

Objectives: To assess the health-related quality of life (HRQOL) and willingness to pay (WTP) per quality-adjusted life-year (QALY) amount of patients with epilepsy in China. Methods: Adults with epilepsy and a healthy control were recruited in two tertiary hospitals in China. Participants completed two indirect utility elicitation instruments (Quality of Well-being Scale-self administered vers...

full text

Willingness to pay for a quality-adjusted life year: implications for societal health care resource allocation.

BACKGROUND Health-state preferences can be combined with willingness-to-pay (WTP) data to calculate WTP per quality-adjusted life year (QALY). The WTP/QALY ratios provide insight into societal valuations of expenditures for medical interventions. METHODS The authors measured preferences for current health in 3 patient populations (N = 391) using standard gamble, time trade-off, visual analog ...

full text

Willingness to Pay for Quality-Adjusted Life Years: Empirical Inconsistency Between Cost-Effectiveness Analysis and Economic Welfare Theory

We design and conduct a stated-preference survey to test whether willingness to pay (WTP) to reduce risk of acute illness is proportional to the corresponding change in expected qualityadjusted life years (QALYs). For the short-term illnesses we consider, proportionality is required by economic theory if QALYs measure utility for health. Proportionality implies a constant WTP per QALY and that ...

full text

My Resources

Save resource for easier access later

Save to my library Already added to my library

{@ msg_add @}


Journal title

volume 16  issue 2

pages  820- 830

publication date 2017-06-01

By following a journal you will be notified via email when a new issue of this journal is published.

Hosted on Doprax cloud platform doprax.com

copyright © 2015-2023