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Calculating the economic value of Iota patient health benefits

We calculate the economic impact of Iota applications on patient health in terms of improvements in quality of life. The metric we use is the decrease in losses of disability adjusted life years (DALYs) due to use of Iota monitoring (see Box 5, “Estimating QALYs”). DALYs estimate the burden of disease by accounting for years of life lost as well as patients’ decreased quality of life.

We first estimated a rate for potential reduction in the burden of disease enabled by Iota and then extrapolated patient populations in 2025 and estimated the percentage of patients who might use Iota systems, both in developing and advanced economies. For example, based on expert interviews, we assume that Iota monitoring can reduce the DALY burden associated with being a diabetic by 10 to 20 percent. Visit Here: 24hoursnews

This allows us to estimate the number of quality-adjusted life years (QALYs) gained from Iota applications. For a typical patient, a 10 to 20 percent reduction would represent a gain of one to two years of quality-adjusted life years.16 We then estimate the value of quality-adjusted life years in different economies using GDP per capita.

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Lastly comment

Adoption rates for Iota-based monitoring may be higher in advanced economies, but the percentage reduction in the burden of disease could be higher in developing economies, where the baseline health outcomes are generally worse (Exhibit 10). While DALY and QALY estimates potentially undervalue human life, especially in developing economies, they provide a conservative estimate of the non-financial health benefits of these technologies Visit The Site: f95zone

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