Major project Pharma & Life Sciences

Cost-effectiveness model for a new treatment

Compare a new treatment with the usual one on cost and health gained, and show whether it is worth paying for.

The brief

Health budgets are limited, so a drug that works must also give value. Build a simple model (decision tree or Markov) comparing a new treatment with standard care for one condition, calculate cost per quality-adjusted life year, and show how sure the answer is. Good looks like: every assumption written down with its source, a tornado chart of the most sensitive inputs and a probabilistic analysis.

What you will build

Choose a condition and two treatments
Collect costs, outcomes and utilities from published sources
Build the model in Python or Excel
Calculate the incremental cost-effectiveness ratio
Run one-way and probabilistic sensitivity analysis
Write a short value summary for a payer

Free, open data to build it with

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