This note presents a simplified description of the Healthy Years Equiv
alent (HYE) health outcome measure. I examine the claims made for the
HYE and discuss their theoretical validity. The HYE is shown to be con
ceptually flawed because of confusions between the measures of value a
nd the things being valued. Under close inspection the unnecessarily c
omplicated multiple stage valuation used to determine the HYE is seen
to be no more than an indirect way of asking the Time Trade-Off. For t
his reason the claimed superiority of the method over the Quality Adju
sted Life Year (QALY) is rejected.