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The willingness to pay for a quality adjusted life year: a review of the empirical literature
Department of Economics, Karlstad University, Karlstad, Sweden.
Örebro University, Örebro University School of Business. Department of Economics, Karlstad University, Karlstad, Sweden.ORCID iD: 0000-0003-1113-7478
2015 (English)In: Health Economics, ISSN 1057-9230, E-ISSN 1099-1050, Vol. 24, no 10, 1289-1301 p.Article in journal (Refereed) Published
Abstract [en]

There has been a rapid increase in the use of cost-effectiveness analysis, with quality adjusted life years (QALYs) as an outcome measure, in evaluating both medical technologies and public health interventions. Alongside, there is a growing literature on the monetary value of a QALY based on estimates of the willingness to pay (WTP). This paper conducts a review of the literature on the WTP for a QALY. In total, 24 studies containing 383 unique estimates of the WTP for a QALY are identified. Trimmed mean and median estimates amount to 74,159 and 24,226 Euros (2010 price level), respectively. In regression analyses, the results indicate that the WTP for a QALY is significantly higher if the QALY gain comes from life extension rather than quality of life improvements. The results also show that the WTP for a QALY is dependent on the size of the QALY gain valued.

Place, publisher, year, edition, pages
2015. Vol. 24, no 10, 1289-1301 p.
Keyword [en]
literature review; QALY; willingness to pay
National Category
Economics Health Care Service and Management, Health Policy and Services and Health Economy
Research subject
Economics
Identifiers
URN: urn:nbn:se:oru:diva-35910DOI: 10.1002/hec.3085ISI: 000360790800007Scopus ID: 2-s2.0-84941188594OAI: oai:DiVA.org:oru-35910DiVA: diva2:737208
Funder
Forte, Swedish Research Council for Health, Working Life and Welfare, 2011-1328Swedish Civil Contingencies Agency
Available from: 2014-08-12 Created: 2014-08-12 Last updated: 2017-10-17Bibliographically approved

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Örebro University School of Business
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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf