The Quality Adjusted Life Year (QALY)

The Quality Adjusted Life Year (QALY) is a measure used to evaluate the value of healthcare interventions by combining both the quantity and quality of life. One QALY equals one year of life in perfect health. If a person lives with a health condition that reduces their quality of life, that year might count as less than one QALY. For example, living for a year with a health state valued at 0.5 (on a scale where 1 is perfect health) equals 0.5 QALYs. This helps compare different treatments based on how much they improve both lifespan and well-being.