The societal monetary value of a QALY associated with EQ-5D-3L health gains

Laura Vallejo-Torres (), Borja García-Lorenzo, Oliver Rivero-Arias and Jose-Luis Pinto-Prades
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Laura Vallejo-Torres: University of Las Palmas de Gran Canaria
Borja García-Lorenzo: Fundación Canaria Instituto de Investigación Sanitaria de Canarias (FIISC)
Oliver Rivero-Arias: Fundación Canaria Instituto de Investigación Sanitaria de Canarias (FIISC)

The European Journal of Health Economics, 2020, vol. 21, issue 3, No 5, 363-379

Abstract: Abstract There is an extensive body of empirical research that focuses on the societal monetary value of a quality-adjusted life year (MVQALY). Many of these studies have found the estimates to be inversely associated with the size of the health gain, and thus not conforming to the linearity assumption imposed in the QALY model. In this study, we explore the extent to which the MVQALY varies when it is associated with different types and magnitudes of quality of life (QoL) improvements. To allow for a comprehensive assessment, we derive the MVQALY corresponding to the full spectrum of health gains defined by the EQ-5D-3L instrument. The analysis was based on a large and representative sample of the population in Spain. A discrete choice experiment and a time trade-off exercise were used to derive a value set for utilities, followed by a willingness to pay questionnaire. The data were jointly analysed using regression analyses and bootstrapping techniques. Our findings indicate that societal values for a QALY corresponding to different EQ-5D-3L health gains vary approximately between 10,000€ and 30,000€. MVQALY associated with larger improvements on QoL was found to be lower than that associated with moderate QoL gains. The potential sources of the observed non-constant MVQALY are discussed.

Keywords: Willingness to pay; Quality-adjusted life year; Social perspective; EQ-5D (search for similar items in EconPapers)
JEL-codes: D61 I10 I18 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s10198-019-01140-4

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