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Explore decision tree and Markov modeling for economic evaluations

This course gives a brief overview of different decision-analytic model types and provides an introduction to decision tree and Markov modeling techniques and their practical application in economic evaluation and outcomes research. Faculty will present analytic approaches including deterministic cohort simulation and Monte Carlo microsimulation and will provide some technical instructions for modelers.

Technical topics include:

• Decision-analytic model types: decision tree and Markov models.

• Analytic approaches: deterministic cohort simulation and Monte Carlo microsimulation.

• Concepts of variability, uncertainty, and causality in economic evaluations.

• Probabilistic sensitivity analysis (PSA) and cost-effectiveness acceptability curves (CEAC).

• Efficiency-equity tradeoffs in health economic modeling.

• Recommendations from the ISPOR-SMDM Joint Modeling Task Force on model suitability and use.

This course includes tools and concepts that can be immediately applied, including:

• Practical application of decision tree and Markov modeling techniques.

• Exercises demonstrating deterministic cohort simulation and Monte Carlo microsimulation.

• Step-by-step exploration of PSA and CEAC construction.

• Case studies analyzing efficiency-equity tradeoffs in health economic modeling

This course is designed for those with no or some familiarity with modeling techniques.

LEVEL: Introductory 
TRACK: Methodological & Statistical Research 

LENGTH: 4 Hours | Course runs 2 consecutive days, 2 hours each day

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ISPOR short courses are designed to enhance knowledge and techniques in core health economics and outcomes research (HEOR) topics as well as emerging trends in the field. Short courses offer 4 or 8 hours of premium scientific education and an electronic course book. Active attendee participation combined with our expert faculty creates an immersive and impactful learning experience. Short courses are not recorded and are only available during the live course presentation.