Introduction to Health Economic Modelling

Day 1

Introduction to Health Economic Modelling

Day 1 of the course covers the basics of health economics, health technology assessment and common methods used for undertaking economic evaluations.

This course is suited to people who wish to get started in health economic modelling, including those from academia, government and industry.

Learning Outcomes:

  • Gain an understanding of the principles of health technology assessment.

Day 2

Health Economic Modelling in Microsoft Excel

Day 2 of the course is a hands on approach providing practical skills in health economic modelling using decision analysis, Markov modelling, life table analysis and Monte Carlo simulation for uncertainty and sensitivity analyses.

Participants will need to bring their own laptop computers, and pre-install a free, trial version of the Excel macro ‘@RISK’ from Palisade Corporation not longer than 3 days before the short course. The software package can be downloaded from here: http://go.palisade.com/RISKDownload.html

Participants will build mock health economic models, progressively building on their skills throughout the day.

Learning Outcomes:

  • Develop proficiency in decision analysis, Markov modelling and life table analysis.
  • Develop proficiency in Monte Carlo simulation using Microsoft Excel and @RISK.

This course is accredited with the Royal Australasian College of Surgeons


This educational activity has been approved in the RACS CPD Program. Fellows who participate can claim one point per hour in Maintenance of Knowledge and Skills (Total of 7 CPD points).

Participation in this activity will be populated into your RACS CPD Online.


Feedback

"Danny was very accommodating – I had significantly less background knowledge than the rest of the attendees and he made sure that I understood the basics behind each concept before introducing the next topic, which was very helpful. Danny explained the content well and was engaging"

- Introduction to Health Economic Modelling, Sydney 2017

"Danny presented a well organised and thorough overview of the various components of health economic modelling at an introductory level. It was great that it was interactive and we were able to consistently interrupt and ask specific questions related to our own interests"

- Introduction to Health Economic Modelling, Sydney 2017

"Very clear, very directly applicable to putting models together.
Examples were very useful"

- Introduction to Health Economic Modelling, Melbourne 2017

Program

SESSION TIME TOPIC
1.1 08.00 – 08.30 Introductions and overview
1.2 08.30 – 09.00

Health economics

1.3 09.00 – 10.00 Decision analysis
1.4 10:00 – 10:30 Decision analysis - practical exercises
10.30 – 11.00 Morning tea
1.5 11.00 – 12.00 Markov models
1.6 12.00 – 13.00 Markov models - practical exercises
13.00 – 14.00 Lunch
1.7 14.00 – 15.00 Life tables
1.8 15.00 – 15.30 Life tables - practical exercises
15.30 – 16.00 Afternoon tea
1.916.00 – 17.00Planning a health economic evaluation - small group work
SESSION TIME TOPIC
1.1 08.00 – 08.30 Recap of Day 1
1.2 08.30 – 09.30

Tricks in Microsoft Excel

1.3 09.30 – 10.30 Building the model framework
10:30 – 11:00 Morning tea
1.4 11.00 – 13.00 Finding key data inputs
13.00 – 14.00 Lunch
1.5 14.00 – 15.00 Running the model
1.6 15.00 – 15.30 Introduction to Monte Carlo simulation
1.7 14.00 – 15.00 Life tables
1.8 15.00 – 15.30 Life tables - practical exercises
15.30 – 16.00 Afternoon tea
1.9 16.00 – 17.00 Finalising the model, including sensitivity analyses

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Course Director

Professor Danny Liew

Professor Danny Liew

Danny Liew is the Chair of Clinical Outcomes Research at Monash University and a consultant physician in Clinical Pharmacology and General Medicine at the Alfred Hospital, Melbourne. Danny's research capacity and interests lie in epidemiology, clinical trials, health services research and health economics. His research productivity is highlighted by over 200 peer-reviewed journal articles, 7 book chapters and over $40 million in NHMRC, ARC and CRC research funding.

Danny has significant experience in the modelling of the benefits and costs of healthcare interventions, and has a detailed understanding of healthcare reimbursement in Australia and other global markets. He has been involved in numerous PBAC submissions.

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