The problem with healthcare is that it can have infinite cost. The question that each society tries to answer is how much are they willing to pay to prolong the life of each individual. There are no right answers unfortunately, as all of them lead to preventable deaths. But some of them at least promote the concept of a caring society.
One example of this calculation is QALYs (Quality Adjusted Life Years) which is used in the UK to determine what drugs are worthwhile: https://www.nice.org.uk/news/articles/changes-to-nice-s-cost...
Adding a formula just hides the harshness of the decision. It does not change the fact that some people who could have been saved, will die as a result of the policy.
All answers are wrong. But at least the one that you highlight can help us track over time if we are making progress to saving more people.