Some info on a big poll and analysis in NL on the willingness of the population to pay a price for a QALY ('quality adjusted life year') regarding Covid.
As context:
For medical care the standard applied for regular health care in NL is 80,000 Euro per QALY, whereby doctors, hospital teams are allowed some freedom. Big Pharma continuously trying to stretch that to a higher amount with drugs pricing.
You can use money as yardstick, but our first need in May last year was a comparative yardstick between several choices:
May 2020 poll (30,000 people):
People attached more societal value in having contact shops (haircut, nailshop, etc) opened and more visitors at home than opening the hospitality sector.
Then the first wave had passed and the question was "what know... how do we steer ?"
September 2020 poll (30,000 people):
As comparative yardstick:
The implied average (in the Dutch society) willingness to sacrifice in order to avoid one fatality directly or indirectly related to COVID-19 equals (rounded to the nearest integer):
- 10 cases of lasting physical injuries;
- 15 cases of lasting mental health problems;
- 18 children with lasting educational disadvantage;
- 77 households with long term decline in net income.
As money yardstick per fatality (not per QALY but that derives from it): A willingness to pay 2.32 Million Euro per prevented fatality.
In terms of the willingness to accept a higher (one-off) tax to help avoid fatalities, we find that the average Dutch citizen weighs an additional 10,000 fatalities as heavily as a one-off tax increase per household of 2,912 Euro. This implies that Dutch society as a whole (which consists of approximately eight million households) is willing to sacrifice a total additional one-off tax burden of approximately 2.32 million Euros.
This is close to the existing standard used for road traffic accidents of 2.61 Million Euro per prevented fatality
This ‘value of life’ estimate allows us to indirectly validate our DCE: the Dutch Road Authority [
51] employs a value of life metric of 2.61 million Euro in the context of road safety analysis, which is in line with our results. Note that the average life lost in road accidents is likely to be that of a younger person than the average life lost due to COVID-19 directly or indirectly, e.g. due to postponed treatment–this may partially explain that our estimate is lower than the official number used by Dutch authorities. A meta-study done by the OECD [
52] reports a median (across studies) value of life of 2.8 million Euros, which also is of the same order of magnitude as our result. As a final indirect validation of our estimates, it is worth pointing out that the factor ten which we obtain between the weight of a fatality versus the weight of a lasting physical injury is about the same as the factor used for Dutch road safety analysis [
51].
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0238683
The current policy is basically more ethically based on to do what is necessary as long as this is bearable for the population at large.
I guess we end up with this Covid pandemy at a higher price than the numbers here mentioned.
The preventred fatalities so far with the lockdown regime have been estimated by the RIVM at 40,000 which would justify on that 2.32 Million per fatality approx 100 Billion Euro cost.