Measure of how much a treatment extends a patient's life
The Equal Value of Life Years Gained or evLYG is a generic measure used to determine how much a medical treatment can extend the life of the patient. Unlike other healthcare metrics, the evLYG does not consider the quality of life for the patient; it exclusively considers the length of life. It is used in economic evaluation to determine the added time a treatment may give a patient.[1] Critics argue the evLYG measurement is flawed because it values a medication based solely on the added years of life. A higher priced drug that both extends life and adds two years of life receives the same evLYG score as a lower priced drug that adds two years but does not improve life.[2]
The evLYG is used in concert with the Quality-Adjusted Life Year (QALY) to reduce the discriminatory characteristics of the QALY, which has been criticized as being ageist or ableist for placing more value on the lives of younger people without disability.[3] The Institute for Clinical and Economic Review (ICER) uses a hybrid of the QALY and the evLYG to determine treatment prices.[4][5] Critics have argued the use of the evLYG along with the QALY does not do enough to fully eliminate the discriminatory aspects of the QALY measurement.[6]
^"ICER to use new metric to assess drug cost-effectiveness". The Pharma Letter. Retrieved 20 July 2021.
^Cohen, Joshua; Ollendorf, Daniel; Neumann, Peter. "Will ICER's Response to Attacks on the QALY Quiet the Critics?". Center for the Evaluation of Value and Risks in Health. Retrieved 20 July 2021.
^Carlson, Josh; Brouwer, Elizabeth; Kim, Eunice; Wright, Phoebe; McQueen, Brett (2020). "Alternative Approaches to Quality-Adjusted Life-Year Estimation Within Standard Cost-Effectiveness Models: Literature Review, Feasibility Assessment, and Impact Evaluation". Value in Health. 23 (12): 1523–1533. doi:10.1016/j.jval.2020.08.2092. PMID 33248507. S2CID 225121375.
^Cohen, Joshua. "A QALY Is A QALY Is A QALY, Or Is It?". Forbes. Retrieved 20 July 2021.
^"Cost-Effectiveness, the QALY, and the evLYG". ICER. Retrieved 20 July 2021.
^"An Introduction to the Institute for Clinical and Economic Review (ICER) and Their Implications for New Sickle Cell Disease Treatments: A Primer on the Issues" (PDF). Sickle Cell Consortium. Retrieved 20 July 2021.
and 24 Related for: Equal Value of Life Years Gained information
The EqualValueofLifeYearsGained or evLYG is a generic measure used to determine how much a medical treatment can extend the lifeof the patient. Unlike...
The valueoflife is an economic value used to quantify the benefit of avoiding a fatality. It is also referred to as the cost oflife, valueof preventing...
effects. ICER also uses the EqualValueofLifeYearsGained (evLYG) to determine if treatment adds years to the patient’s life. ICER's affordability calculations...
cost of assets used but not immediately consumed in the activity. Such cost allocated in a given period is equal to the reduction in the value placed...
quality-adjusted life year (QALY) and the EqualValueofLifeYearsGained (evLYG) to determine if a treatment adds valuable years to the patient's life. Arnold...
in 10 years, 20 years, or at age 65. Whole life insurance belongs to the cash value category oflife insurance, which also includes universal life, variable...
The Equal Protection Clause is part of the first section of the Fourteenth Amendment to the United States Constitution. The clause, which took effect...
encashment valueof the policy is the current valueof the units. A full endowment is a with-profits endowment where the basic sum assured is equal to the...
labor theory ofvalue (LTV) is a theory ofvalue that argues that the exchange valueof a good or service is determined by the total amount of "socially...
major concept in Karl Marx's critique of political economy. Conventionally, value-added is equal to the sum of gross wage income and gross profit income...
present value (NPV) or net present worth (NPW) is a way of measuring the valueof an asset that has cashflow by adding up the present valueof all the...
The Equal Rights Amendment (ERA) is a proposed amendment to the U.S. Constitution that would, if added, explicitly prohibit sex discrimination. It was...
individuals and their level of income. This system also introduced a deductible allowance equal to the share's acquisition value times the average rate for...
Variable universal life insurance (often shortened to VUL) is a type oflife insurance that builds a cash value. In a VUL, the cash value can be invested...
offset by an equal decrease in mutual fund share value/price. From the shareholder's perspective, a capital gain distribution is not a net gain in assets...
article is part of a biography of Sir Isaac Newton, the English mathematician and scientist, author of the Principia. It portrays the years after Newton's...
Universal life insurance (often shortened to UL) is a type of cash valuelife insurance, sold primarily in the United States. Under the terms of the policy...
example, human beings are perishable: the life expectancy at birth in developed countries is about 80 years. So the Lindy effect does not apply to individual...
(from French égal 'equal'), or equalitarianism, is a school of thought within political philosophy that builds on the concept of social equality, prioritizing...
gain can be a symptom of a serious medical condition. Weight gain occurs when more energy (as calories from food and beverage consumption) is gained than...
transaction cost that could have been due to the procedure was equal in the induced-value and goods markets, transaction costs were eliminated as an explanation...
law of the valueof commodities (German: Wertgesetz der Waren), known simply as the law ofvalue, is a central concept in Karl Marx's critique of political...
will be a return of capital and the book valueof the company will have shrunk by an equal amount. This may result in capital gains which may be taxed...
any other macroeconomic variable. Beckstrom's law "The valueof a network equals the net value added to each user’s transactions conducted through that...
Global Information