Concerns with Cost-Effectiveness Analysis (CEA) and the Quality-Adjusted Life Year (QALY)

Economic evaluation
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What are some concerns with CEA analysis? Do you think it is a good idea that the US seems to be moving toward more of a CEA focus in health care?How would you explain the concept of a QALY in basic terms? When is it more appropriate to use QALY instead of simply improved life expectancy as an outcome measure in an economic evaluation?In what sense is a cost of illness study a technique of economic evaluation? In what sense is it not? Provide an example of a cost of illness study (no need to go into major detail, just post overall finding summary).
The cost-effectiveness analysis (CEA) has been utilized to assess the cost-effectiveness of various treatments, by taking into consideration the costs and value of the treatment. As there is increased focus on CEA, the approach is used when there is estimation of utility values, which can help curb spending growth. The challenge in the US like other countries is that CEA is at times subjective, yet quantitative analysis focuses on objective data. The US needs to adopt the CEA approach, without ignoring other methods, but there should be greater emphasis on estimating the effects of interventions. QALYs are used as a u...