Describe monetary values in measuring healthcare output
quality adjusted life years (QALYs) and monetary values in measuring healthcare output
1- Briefly explain the main approaches of measuring preference.
2-Sketch the QALY diagram and determine how many QALYs are achieved during the year by the typical patient in a 1-year clinical trial who belongs to the treatment group and has a baseline Health Utilities Index 2 (HUI2) health state of 133111 and a 1-year HUI2 health state of 112111. The typical patient in the control group has a baseline HUI2 health state of 133111, and a 1-year HUI2 health state of 132111. Sketch the QALY diagram for the two patients and determine the QALYs gained over the year for the treatment patient compared to the control patient.
3- If the cost of treatment was USD 4,500 per patient in the treatment group and USD 1,500 per patient in the control group, calculate the Incremental cost-effectiveness ratio ICER.