Economic evaluation reference case with Markov model

William Padula; Shreena Malaviya; Natalie M. Reid; Jonothan Tierce; G. Caleb Alexander

doi:10.1093/oso/9780192896087.003.0025

Economic evaluation reference case with Markov model

William Padula, Shreena Malaviya, Natalie M. Reid, Jonothan Tierce, G. Caleb Alexander

Bloomberg School of Public Health

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

Chapter 4.4 provides a reference case for vaccine economic evaluation using a novel COVID-19 vaccine program Markov model. For this exercise, the model is provided with interactive data to make it fully functional and generate analyzable results. It is highly recommended that readers engage with the Excel model simultaneously to studying the exercise. What readers will find as they engage in this model is that Markov models operate much differently than decision trees, as they require more data and time-steps to complete a Markov trace. Ultimately, these models could provide more helpful information about value over time, which in turn can inform important data for return-on-investment calculations and other economic statistics that depend on time and efficiency, considering the rapid spread of infectious diseases such as COVID-19.

Original language	English (US)
Title of host publication	Handbook of Applied Health Economics in Vaccines
Publisher	Oxford University Press
Pages	310-327
Number of pages	18
ISBN (Electronic)	9780191918544
ISBN (Print)	9780192896087
DOIs	https://doi.org/10.1093/oso/9780192896087.003.0025
State	Published - Jan 1 2023

Keywords

cost-effectiveness analysis
COVID-19 vaccines
economic evaluation
economic models
Markov models

ASJC Scopus subject areas

General Medicine

Access to Document

10.1093/oso/9780192896087.003.0025

Cite this

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abstract = "Chapter 4.4 provides a reference case for vaccine economic evaluation using a novel COVID-19 vaccine program Markov model. For this exercise, the model is provided with interactive data to make it fully functional and generate analyzable results. It is highly recommended that readers engage with the Excel model simultaneously to studying the exercise. What readers will find as they engage in this model is that Markov models operate much differently than decision trees, as they require more data and time-steps to complete a Markov trace. Ultimately, these models could provide more helpful information about value over time, which in turn can inform important data for return-on-investment calculations and other economic statistics that depend on time and efficiency, considering the rapid spread of infectious diseases such as COVID-19.",

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AU - Malaviya, Shreena

AU - Reid, Natalie M.

AU - Tierce, Jonothan

AU - Alexander, G. Caleb

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Economic evaluation reference case with Markov model

Abstract

Keywords

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