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This book provides an introduction to decision analytic cost-effectiveness modelling, giving the theoretical and practical knowledge required to design and implement analyses that meet the methodological standards of health technology assessment organisations. The book guides you through building a decision tree and Markov model and, importantly, shows how the results of cost-effectiveness analyses are interpreted.

Given the complex nature of cost-effectiveness modelling and the often unfamiliar language that runs alongside it, we wanted to make this book as accessible as possible whilst still providing a comprehensive, in-depth, practical guide that reflects the state of the art - that includes the most recent developments in cost-effectiveness modelling. Although the nature of cost effectiveness modelling means that some parts are inevitably quite technical, across the 13 chapters we have broken down explanations of theory and methods into bite-sized pieces that you can work through at your own pace; we have provided explanations of terms and methods as we use them. Importantly, the exercises and online workbooks allow you to test your skills and understanding as you go along.

Cost Effectiveness Modelling for Health Technology Assessment: A Practical Course

Cost Effectiveness Analysis and Health Technology Assessment: An overview. - Building a decision tree cost effectiveness model. - An introduction to sensitivity analysis in Cost Effectiveness Analysis. - Implementing Probabilistic Sensitivity Analysis in Excel®. - Outputs from Probabilistic Sensitivity Analysis-Part 1. - Introduction to Markov Cost Effectiveness Models. - Building a Markov Cost Effectiveness Model Part One - constructing the Markov structure. - Building a Markov Cost Effectiveness Model Part Two - Model Design Issues. - Probabilistic Sensitivity Analysis Effectiveness Parameters. - Probabilistic Sensitivity Analysis for Cost Parameters. - Probabilistic Sensitivity Analysis for Utility Parameters. - Probabilistic Sensitivity Analysis and Correlated Parameters - Cholesky Decomposition. - Outputs from Probabilistic Sensitivity Analysis - Part 2. - Understanding Health Care as an investment: Break Even Curves and Net Benefit Probability Maps. - Cost effectiveness analysis and risk sharing for innovative technologies - Technology Leasing Schemes. - Policy Responses to Uncertainty in Health Technology Appraisal. - Value of Information Analysis Part 1: The Cost of Making the Wrong Decision. - Value of Information Analysis Part 2: Investing in reduced uncertainty.