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December 2011
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New cancer medicines: Joint working between the NHS and the pharmaceutical industry
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De-mystifying QALYs
Paul Trueman (Economist, York Health Economic Consortium) gave an inspiring presentation, the aim of which was to try to demystify quality adjusted life years (QALYs), which are a key factor in assessing the cost effectiveness of new cancer medicines.
Mr Trueman explained how QALYs can be unnecessarily complicated and talked us through how a QALY is developed and how they can be used by drug groups, such as NECDAG and local groups, to aid in decision making. He reminded delegates that QALYs are just one part of the overall decision making process and that other factors, including patient factors, the overall cost impact and the potential benefits, need to be taken into account when considering the introduction of a new cancer drug.
Mr Trueman concluded that a QALY is a useful tool to support difficult resource allocation decisions, and essentially provides a common currency in a framework for evaluating value for money. However, he was keen to stress that QALYs are only one factor in the decision-making process and that they should be considered in context.
Please click here to view Mr Paul Trueman’s slides
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