12.30-1.30pm, Mon 20th August 2018
Seminar Room 515, Level 5, 207 Bouverie Street, Carlton
Professor Nancy Devlin, Director of Research, Office of Health Economics, London, U.K.
Assessing the cost effectiveness of new medicines relies on the measurement of quality of life (QoL). For two decades, the National Institute of Health and Care Excellence (NICE) in England has recommended use of the EQ-5D, a concise, generic measure of QoL. A new version of EQ-5D is available and evidence of its superiority suggests NICE should switch instruments. However, doing so will yield different estimates of QALYs (Quality-adjusted life years) and cost effectiveness. This seminar explains how the two versions differ in measuring and valuing QoL and considers the transitional problems confronting decision makers.