Quality-Adjusted Life Years
The quality-adjusted life year, or QALY, is the standard outcome measure of cost-utility analysis in health economics. It combines length and quality of life into one number by weighting each year a person lives by a utility value reflecting their health-related quality of life during that year, on a scale where one is full health and zero is death. One year in perfect health is one QALY; two years lived at a utility of one half is also one QALY. Because the metric expresses survival and health-related quality of life in a single unit, it lets analysts compare interventions that extend life, improve quality of life, or do both, and it forms the denominator of the incremental cost-effectiveness ratios that health-technology agencies use to decide what to fund. George Torrance set out the methods for measuring the health-state utilities at the heart of the QALY, and Weinstein, Torrance, and McGuire later distilled the concept and its construction for a broad audience.
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- Weinstein, M. C., Torrance, G., & McGuire, A. (2009). QALYs: The Basics. Value in Health, 12(Suppl 1), S5-S9. · DOI 10.1111/j.1524-4733.2009.00515.x
- Torrance, G. W. (1986). Measurement of health state utilities for economic appraisal: A review. Journal of Health Economics, 5(1), 1-30. · DOI 10.1016/0167-6296(86)90020-2
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