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Abstract
This paper is focused on establishing why a willingness-to-pay per quality-adjusted life-year value is needed and how such a value can be used in healthcare decision-making. Studies that have estimated willingness-to-pay per quality-adjusted life-year values from stated preference data are reviewed and categorized into three groups. These studies are then compared within and between groups highlighting the limitations of existing studies and their suitability for use in policy-making. The future of such work will be discussed, noting key issues for consideration and debate.
Financial & competing interests disclosure
Helen Mason is supported by an Economic and Social Research Council post-doctoral fellowship. Cam Donaldson holds the Health Foundation Chair in Health Economics at Newcastle University and is a National Institute for Health Research Senior Investigator. The authors have no other relevant affiliations or financial involvement with any organization or entity with a financial interest in or financial conflict with the subject matter or materials discussed in the manuscript apart from those disclosed.
No writing assistance was utilized in the production of this manuscript.