Opinion: Rather than turning its back on the QALY, pharma should collaborate on efforts to improve it
A key element in the long-simmering debate on reining in drug prices in the United States is how to ensure that prices are affordable, represent a sufficient reward to industry for the innovation it provides, and reflect the benefit that patients get from the medications they take. Higher prices should mean better health, right?
Bear with me as I take a trip down memory lane. About 20 years ago, my growing family was the inspiration for adding an addition to our home. I was fortunate to have realized some success as a research consultant to the pharmaceutical and biotech industries, so we could make the addition happen without too big a financial dent. The work required a team of architects, designers, and contractors, and all of it was financed by my work on the quality-adjusted life-year (QALY) — more on that in a minute.
