Introduction to Modeling

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This course gives a brief overview of different decision-analytic model types and provides an introduction to 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. Participants learn about the concepts of variability, uncertainty, probabilistic sensitivity analysis (PSA), and cost-effectiveness acceptability curves (CEAC). Additionally, faculty will use the recommendations of the ISPOR-SMDM Joint Modeling Good Research Practices Task Force to explore when and how modeling should be used in economic evaluation and which are the suitable model techniques....