The U.S. shouldn’t use the ‘QALY’ in drug cost-effectiveness reviews
This op-ed by William Smith appeared in STAT News on February 22, 2019. What’s a year of life worth? That question is at the heart of a metric called the quality-adjusted life year that is increasingly being used to make decisions about paying for new drugs. If I was asked that question about one of my children, my answer would be “limitless,” and no one could persuade me otherwise. But others are putting a discrete price tag on it. Answering how much a quality-adjusted life year (QALY) is worth isn’t a theoretical or philosophical exercise. A number of European health care systems use so-called cost-effectiveness reviews that depend on QALYs to make decisions about which drugs to cover. Since these […]