title: Value-based medicine: evidence-based medicine and beyond.
abstract: Value-based medicine is the practice of medicine emphasizing the value received from an intervention. Value is measured by objectively quantifying: 1) the improvement in quality of life and/or 2) the improvement in length of life conferred by an intervention. Evidence-based medicine often measures the improvement gained in length of life, but generally ignores the importance of quality of life improvement or loss. Value-based medicine incorporates the best features of evidence-based medicine and takes evidence-based data to a higher level by incorporating the quality of life perceptions of patients with a disease in concerning the value of an intervention. Inherent in value-based medicine are the costs associated with an intervention. The resources expended for the value gained in value-based medicine is measured with cost-utility analysis in terms of the US dollars/QALY (money spent per quality-adjusted life-year gained). A review of the current status and the likely future of value-based medicine is addressed herein.
authors.affiliation: Retina Service, Wills Eye Hospital, Jefferson Medical College, Philadelphia PA, USA. gary0514@aol.com
authors.forename: Gary C
authors.initials: GC
authors.lastname: Brown
authors.forename: Melissa M
authors.initials: MM
authors.lastname: Brown
authors.forename: Sanjay
authors.initials: S
authors.lastname: Sharma
mesh_terms: D017281:Cost of Illness; D003362:Cost-Benefit Analysis / Q000191:economics*; D003695:Delivery of Health Care / Q000191:economics*; D019317:Evidence-Based Medicine; D017048:Health Care Costs; D006801:Humans; D018803:Models, Economic; D009885:Ophthalmology / Q000191:economics*; D011788:Quality of Life; D014481:United States