In cost-effectiveness analysis, we deal with uncertainty in our parameters by performing sensitivity analyses. In this article, I review how we can generate these distributions for common paramters in a cost-effectiveness analysis. You can view the article at my RPubs page.
Constructing a Markov model for cost-effectiveness analysis using Excel: A tutorial
I wrote a tutorial on how to construct a Markov model using Excel, which is available on my RPubs site (link). This was meant to complement a workshop that I am preparing for trainees interested in pharmacoeconomics.
The Markov model is a versatile mathematical model that allows researchers to simulate a chronic disease for many years. It is unique due to its features such as disease states which can contain the costs and benefits associated with them.
I posted files associated with this tutorial on my GitHub Markov Model Tutorial respository (link). These include some readings to provide sufficient background and the Excel file with the Markov model example. To properly download these files, make sure to go to the “Raw” file and right clich on the “Raw” option then “Save link as” onto your computer. There is a detailed explanation on the RPubs tutorial.
This is a work in progress, so expect some updates in the future.