That is the title of my commentary with co-authors Kathy Lang and Ross Maclean in the Journal of Clinical Pathways. The abstract is below.
What is the right price for a new treatment for COVID-19? One common approach—which is frequently used worldwide and in the United States by the Institute of Clinical and Economic Review—measures treatment value based largely on quality-adjusted life years (QALYs) gained by patients’ net of cost. In the case of COVID-19, however, it is clear that a new vaccine or treatment would be valued by society much more than simply average QALYs gained to patients who contracted the disease. In this commentary, the authors argue that the International Society for Pharmacoeconomics and Outcomes Research “value flower” provides a helpful framework to more accurately value treatments—such as those for COVID-19—which have a transformational impact on the lives of not only of patients, but also caregivers, employers, and broader society.
Do read the whole article here.