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NEW MODELING INTERFACE FOR MONTE CARLO-SENSITIVITY ANALYSES Boston, Massachusetts - In the decision-analytic community, Markov modeling incorporating discrete events has become increasingly popular but it remains difficult to perform these types of analyses using standard modeling packages. The problem facing many decision scientists is that for each data point in a deterministic one-way sensitivity analysis that makes usage of tracker variables, a single new Monte Carlo-simulation has to be run. Hence, it is very useful to find ways to automate these Monte Carlo-simulations for the purpose of deterministic one-way sensitivity analysis. For models programmed in TreeAge Pro Suite 2007 and later, modelers can now enter the parameters of their deterministic sensitivity analysis in a convenient Excel spreadsheet, specify how they want their Monte Carlo simulation to be run, and then let VisualBasic and the TreeAgeProLib interface do the job for them. The program was developed by Benjamin P. Geisler and Alexander Göhler of the Institute for Technology Assessment at Massachusetts General Hospital. Says Dr. S. Gazelle, Director of the Institute for Technology Assessment: "We have seen other modelers struggle with these particular issues and wanted to pass along this valuable tool to make their work more efficient. This interface will spare investigators days and weeks of laborious re-running of models." The interface for deterministic sensitivity analyses requiring first-order Monte Carlo simulations will also discussed in Value in Health, the official journal of the International Society for Pharmacoeconomics and Outcomes Research. 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 3,000 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. Value in Health Volume 12 Issue 1 - January/February 2009 For more information: |
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