WTP
Medical abbreviation · Medical Research
| Stands for | Willingness to pay |
|---|---|
| Categories | Medical |
WTP stands for Willingness to pay, a medical research abbreviation.
Maximum amount a person, payer or society is prepared to spend for a health benefit, used in health economics as the threshold against which cost-effectiveness ratios are judged. In the US, thresholds of US$50,000 to US$150,000 per QALY are often cited.
Example: At a WTP of $100,000 per QALY, the drug has a 70% probability of being cost-effective.
Usage notes
WTP can also be measured directly with contingent valuation surveys asking people what they would pay for a benefit. Cost-effectiveness acceptability curves show the probability that an intervention is cost-effective across a range of WTP thresholds.
Related abbreviations
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- CBER – Center for Biologics Evaluation and Research
- CDER – Center for Drug Evaluation and Research
- CEA – Cost-effectiveness analysis
- CI – Confidence interval
- CITI – Collaborative Institutional Training Initiative
- COI – Conflict of interest
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This entry is for general education and is not medical advice. Abbreviation use varies between institutions; always confirm in context.