Estimating the monetary value of health and capability well-being applying the well-being valuation approach.

ABSTRACT:

Background

Quality of life measures going beyond health, like the ICECAP-A, are gaining importance in health technology assessment. The assessment of the monetary value of gains in this broader quality of life is needed to use these measurements in a cost-effectiveness framework.

Methods

We applied the well-being valuation approach to calculate a first monetary value for capability well-being in comparison to health, derived by ICECAP-A and EQ-5D-5L, respectively. Data from an online survey administered in February 2018 to a representative sample of UK citizens aged 18-65 was used (N = 1512). To overcome the endogeneity of income, we applied an instrumental variable regression. Several alternative model specifications were calculated to test the robustness of the results.

SUBMITTER: Himmler S 

PROVIDER: S-EPMC7561589 | biostudies-literature | 2020 Nov

REPOSITORIES: biostudies-literature