Unbiased Analysis of Today's Healthcare Issues

Standard Gamble, Time Trade-off and Visual Analog Scale

Would you rather live for 5 years in perfect health or 10 years with some debilitating disease?  How much do you value living for a year with this debilitating disease compared to a year in full health?  These questions may seem like ones from philosophy, but they are ones that health economics ask all the time.  The […]

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The Standard Gamble

One concept often used in healthcare is the quality-adjusted life years (QALY).  The concept is fairly simple.  It assumes that people value one year of life in perfect health at 1; people who die have a value of a life year of 0.  One year of life where you have 50% health is then valued […]

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