OBJECTIVES:: There is a consensus in the fact that Heart Failure (HF) should have a multidisciplinary and comprehensive management in order to diminish readmission rates and improve surviving. Additionally, it should have an important impact in the patient’s quality of life. This work pretends to estimate the impact of a Heart Failure Clinical Program (HFCP) in the patients quality of life in terms of QALYs (Quality Adjusted Life Years) gained, when compared to Conventional Medical Management (CMM), in a Colombian specialized Hospital. METHODS:: A mathematical model using Markov chains was built, in order to project the Life Years Gained (LYG) as well as discounted QALYs, along a 15 years horizon. Clinical data was obtained from the institution database with 511 patients during an 18 months follow-up period. For the Markov model, four health states were considered (HYHA Classes) with transition probabilities, which were taken from Yao_2007. Effectiveness was calculated from the probabilities of moving from one NYHA Class to a better one. Utilities for each NYHA to calculate QALYs were taken from Kirsch_2000. Colombian general mortality rate and 3,5% discount rate were applied. Specific mortality rates for HF, were taken from Inglis-2011. Survival analysis was done. RESULTS:: With the HFCP, 6,91 LYG were obtain compared to 5,37 with CMM or 1,54 additional LYGs. When utilities were applied to each LYG, 4,54 QALYs were obtained with HFCP vs. 3,07 with CMM, which is an improvement of 1,47 QALYs more. CONCLUSIONS:: HFCP produces more LYG than CMM to a higher quality of life in terms of QALYs. HFCP should be implemented in those specialized institutions for HF.