Health state preferences are important for evaluating the outcomes of medical treatment. This study examined preferences of patients for schizophrenia-related health states and compares patient preferences with those of caregivers and psychiatrists. Health-state descriptions were developed for five different outcomes likely to be experienced by schizophrenic patients. Forty-nine schizophrenic patients and their primary caregiver assigned preferences to the hypothetical states and the patient's current state using categorical rating scales and paired comparisons; physicians rated the states using the standard gamble and categorical rating scale. Mean standard gamble utilities for the patient's current health were 0.75, and ranged from 0.56 for the inpatient state to 0.83 for excellent function, outpatient. Mean categorical rating scale preferences for the patient's current health state were 0.67 for patients, 0.66 for caregivers and 0.66 for clinicians. Patient preferences were comparable with clinician and caregiver preferences for hypothetical health states. Patient preferences were correlated with clinician and caregiver preferences for current health. It was concluded that schizophrenic patients are able to complete categorical rating scales and paired comparisons, and patient preferences are associated with clinician and caregiver preferences.