I explain how you can build a Markov model from scratch in Excel to compare two drug treatments for HTA 💡📊
Want to learn more about the NICE appraisal process? Watch this 👉 https://www.youtube.com/watch?v=ZWMjdAK1_WI&list=UULFCWndUzziarMjA4pDG1ps2A
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TIMECODES ⏰
0:00 Intro
0:28 The Scenario
1:19 Defining Health States & Model Structure
2:49 Transition Matrix
4:18 Applying Relative Treatment Effects
6:07 Assigning Health State Payoffs
6:49 Treatment Acquisition Cost & Willingness-to-Pay
7:29 Calculating Health State Membership
10:41 Calculating Costs
13:19 Calculating QALYs
14:06 Repeat Calculations for Treatment B
14:34 Calculating Results: ICER & Net-Monetary Benefit
17:34 Visualising Results: Health State Occupancy Plots, PFS + OS Curves, Cost Charts
19:26 Limitations of our Markov Model
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REFERENCES 📚
Formula for applying hazard ratios to probabilities
https://www.treeage.com/help/Content/71-Advanced-Markov-Models/2-Probability-Rate-conversions.htm
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TEMPLATES 🗂️
Download the Excel file I used for this Tutorial: https://github.com/MvonHein/Markov-Cohort-Simulation
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HASHTAGS 🏷️
#HealthEconomics #MarkovModel #ExcelTips