As a healthcare executive, you have two options; One procedure has a cost of $300,000, and increases QALY (Quality-Adjus...
As a healthcare executive, you have two options; One procedure has a cost of $300,000, and increases QALY (Quality-Adjusted Life Year) by 8, another is $180,000 and a QALY of 5. Which one would you choose and why.
Homework Answers
ANSWER:
We need to find the cost per qaly gained.
1st procedure cost per qaly gained = cost / qaly = 300,000 / 8 = 37,500
2nd procedure cost per qaly gained = cost / qaly = 180,000 / 5 = 36,000
so the 2nd procedure has a lower cost per qaly gained and so therefore we will choose the 2nd procedure.
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