Regarding the recent online commentary “Drop Medicaid 'best price' drug rules in favor of value-based strategies,” “value-based pricing” sounds mellow until one comes to the challenge of putting a dollar value on, say, a quality-adjusted life year (QALY) for, say, a Medicaid patient.
Economists usually pull that number out of a hat—a common number is $100,000 for a QALY whoever may receive it—but one wonders whether that is the “value” citizens have in mind.
