Markov Microsimulation Model For Economic Evaluation In Osteoporosis

Main Category: Bones / Orthopedics
Article Date: 16 Mar 2009 - 8:00 PDT

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High quality economic evaluations are required to provide the decisions makers with accurate support for their decision-making processes.

In the field of osteoporosis, most of the existing evaluations are cohort-based model missing comprehensive memory management and versatility. Specifically, this approach is limited by the memoryless feature of the process.

By simulating patients one by one and taking account of their characteristics and individual disease histories, Markov microsimulation model have the potential to be more accurate than cohort models. A recent study "Development and validation of a Markov microsimulation model for the economic evaluation of treatments in osteoporosis," published in Value in Health, describes and validates an original model to accurately assess the cost-effectiveness of prevention and treatment of osteoporosis.

The rationale, the development and the validation of an original Markov microsimulation model in osteoporosis will also be discussed in Value in Health, the official journal of the International Society for Pharmacoeconomics and Outcomes Research.

Says Mr. Hiligsmann, "Markov microsimulation models undoubtedly have a better ability to represent the complexity and the heterogeneity of pathology such osteoporosis, increasing the reliability of the results and being largely compatible with the existing state of the art, evidence-based literature

Value in Health (ISSN 1098-3015) publishes papers, concepts, and ideas that advance the field of pharmacoeconomics and outcomes research and help health care leaders to make decisions that are solidly evidence-based. The journal is published bi-monthly and has a regular readership of over 4,000 clinicians, decision-makers, and researchers worldwide.

ISPOR is a nonprofit, international organization that strives to translate pharmacoeconomics and outcomes research into practice to ensure that society allocates scarce health care resources wisely, fairly, and efficiently.

Source
ISPOR

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