Valuing Mortality Risk: Per Life, Life Year, or QALY?
2023
It is important to consider age and other relevant factors when assessing the value associated with reducing risks to ensure a comprehensive and accurate understanding of its impact. In a recent paper, it is explained that the value of risk reduction, whether it is a temporary or persistent reduction, can be defined using the "value per statistical life" (VSL), "value per statistical life year" (VSLY), or "value per quality-adjusted life year" (VQALY).
Valuing Mortality Risk: Per Life, Life Year, or QALY?
Source:
Hammitt JK. Consistent Valuation of a Reduction in Mortality Risk Using Values Per Life, Life Year, and Quality-Adjusted Life Year. Health Economics 2023. https://doi.org/10.1002/hec.4697
Not open access.