Cost-effective Medical Treatment: Putting an Updated Dollar Value on Human Life

A thorny question lies at the heart of meaningful health care reform. How much is human life worth? New Wharton research based on Medicare kidney dialysis data shows that the average figure -- $129 090 per additional year of quality life -- is higher than prior studies have shown. Perhaps more important the study also puts a value on the cost-effectiveness of treatment across percentiles of the entire dialysis population in an attempt to develop a benchmark for coverage decisions. Chris P. Lee a Wharton professor of operations and information management co-authored the paper titled ”An Empiric Estimate of the Value of Life: Updating the Renal Dialysis Cost-effectiveness Standard.” Hosted on Acast. See acast.com/privacy for more information.