Business of Healthcare
Quality-Adjusted Life Years (QALYs) is a measure used to evaluate the value of medical interventions by quantifying the quantity and quality of life that can be gained from healthcare treatments. This metric combines both the length of life and the quality of health, allowing healthcare professionals and policymakers to assess the effectiveness and cost-effectiveness of different medical options. QALYs are crucial for decision-making in healthcare economics, as they help prioritize resource allocation based on patient outcomes and societal benefits.
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