Model-based Health Economic Evaluation

In this interactive two-day short course, participants will develop practical skills in model-based economic evaluation for decision making in healthcare settings through a combination of lectures, workshop exercises and computer lab-based classes.

Demand for healthcare is increasing in Australia and globally, driven by ageing populations and the increased prevalence of chronic diseases. It is critical that resources are allocated efficiently and equitably so that health systems remain sustainable into the future, while also maximising positive health outcomes across the population. Model-based economic evaluations involve the use of health economic models to simulate and analyse the economic impact of various healthcare decisions, interventions and policies. It is noted a basic proficiency of Excel is required.

Course structure

Day 1

• MODULE 1: Introduction to health economic evaluation
• MODULE 2: Introduction to model-based economic evaluation
• MODULE 3: Steps in  developing an economic evaluation model

Day 2

• MODULE 1A: Decision tree models (with practical exercises in Excel)
• MODULE 2B: Sensitivity analysis and uncertainty analysis
• MODULE 2: Markov models
• MODULE 3: Real-world application of health economic models

Learning Outcomes

• Describe core concepts and recognise key terminology relating to health economic modelling in an academic and professional setting
• Implement the steps required to conceptualise, plan and implement a health economic modelling project
• Critically appraise alternative approaches for constructing health economic models and to summarise the implications of each choice
• Differentiate between the various types of uncertainty associated with health economic models; and to independently evaluate the impact of model-related uncertainty through the application of uncertainty analysis and risk analysis methods
• Design and produce a decision tree model, Markov model and life table model
• Identify factors that can limit a model’s ability to influence real-world decision making; describe the steps required to verify and validate a model, checklists that can be used to appraise the quality of other health economic models

Who should attend?

This course is targeted to anyone who is interested in real-world applications of model-based economic evaluation, including those working in consultancy, pharmaceutical companies, government or health professionals.

Course facilitators