Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/47003
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Type: Journal article
Title: Alternative decision modelling techniques for the evaluation of health care technologies: Markov processes versus discrete event simulation
Author: Karnon, J.
Citation: Health Economics, 2003; 12(10):837-848
Publisher: John Wiley & Sons Ltd
Issue Date: 2003
ISSN: 1057-9230
1099-1050
Abstract: Markov models have traditionally been used to evaluate the cost-effectiveness of competing health care technologies that require the description of patient pathways over extended time horizons. Discrete event simulation (DES) is a more flexible, but more complicated decision modelling technique, that can also be used to model extended time horizons. Through the application of a Markov process and a DES model to an economic evaluation comparing alternative adjuvant therapies for early breast cancer, this paper compares the respective processes and outputs of these alternative modelling techniques. DES displays increased flexibility in two broad areas, though the outputs from the two modelling techniques were similar. These results indicate that the use of DES may be beneficial only when the available data demonstrates particular characteristics.
Keywords: economic evaluation; decision modelling; Markov processes; discrete event simulation
Description: Copyright © 2008 John Wiley & Sons, Ltd.
RMID: 0020081238
DOI: 10.1002/hec.770
Published version: http://www3.interscience.wiley.com/journal/101521349/abstract
Appears in Collections:Public Health publications

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