We study differential and integral relations for the quantum Jost solutions associated with an integrable derivative nonlinear Schrodinger (DNLS) model. By using commutation relations between such Jost solutions and the basic field operators of DNLS model, we explicitly construct first few quantum conserved quantities of this system including its Hamiltonian. It turns out that this quantum Hamiltonian has a new kind of coupling constant which is quite different from the classical one. This modified coupling constant plays a crucial role in our comparison between the results of algebraic and coordinate Bethe ansatz for the case of DNLS model. We also find out the range of modified coupling constant for which the quantum N-soliton state of DNLS model has a positive binding energy.