By Daniel Herrerra-Araujo.
- Quality adjusted life years (QALYs) are used to assess improvements in health
- To assess the costs and benefits of policies dealing with health improvements practitioners often resort to place a monetary value for a QALY
- We show that standard methods to monetize a QALY are subject to an upward bias
- We propose a robust method that accounts for the upward bias: the use of bounds!
This vulgarization piece is based on the paper “Theoretical bounds on the value of improved health”* publish in Journal of Health Economics and on ongoing work in the VHEALTH project. The author recognizes funding from the French National Research Agency (ANR) through the VHEALTH project, award number ANR-20-CE36-0010-01.