Quality-Adjusted Life Years (QALYs) is a measure used to assess the value of health outcomes by combining the quantity and quality of life lived. One QALY is equivalent to one year in perfect health, which allows for comparisons across different medical interventions and helps in making decisions about resource allocation. This concept is significant in evaluating cost containment strategies and understanding health outcomes within populations, as it provides a standardized way to weigh the benefits of treatments against their costs.
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