Book description
While policymakers have often expressed sticker shock at the prices of certain therapies to treat life-threatening illnesses and are right to explore options to lower costs of treatment, one methodology they should reject is the Quality Adjusted Life Year (QALY) standard used in the U.K. and elsewhere. QALY assigns a…
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Why read it?
1 author picked Rationing Medicine as one of their favorite books. Why do they recommend it?
How do you put a price on life? That is a question often asked as healthcare providers seek to determine what is a fair price for a new life-saving drug. European governments have come up with a methodology called QALY (“Quality Adjusted Life Year”), which assigns a monetary value to the quality of life and survival length for patients and then assesses the cost-effectiveness of a drug based upon the drug’s potential to both improve a patient’s quality of life and extend that life.
That sounds pretty reasonable. Actually, it isn’t. This book shows that adopting the QALY methodology in…
From John's list on the challenges of discovering breakthrough medicines.
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