How should value in healthcare be measured? In this paper, we introduce the Standard of Living Valuation (SoLV), a novel approach developed by the authors to quantifying value using real-world evidence that may offer a reasonable and practical alternative to valuing therapies using quality-adjusted life years (QALYs). This work was commissioned by the Alliance for Aging Research, a nonprofit organization. In the main sections of the paper, we discuss the following:

• The need for a new value framework
• SoLV framework for value assessment
• An illustrative case study: Stroke, atrial fibrillation, and direct oral anticoagulants (DOACs)

This report was commissioned by the Alliance for Aging Research.