OBJECTIVES: On-demand treatment for haemophilia patients with inhibitors is burdensome to patients and practitioners. Newer bypassing agents with shortened bleed resolution time resulting in fewer infusions, may impact costs and patient quality of life (QoL).  The study objective was to model the lifetime costs and health-related QoL outcomes associated with bypassing agents, recombinant activated Factor VIIa and plasma-derived activated prothrombin complex concentrate (rFVIIa, pd-aPCC) in Germany, and investigate the impact of faster bleeding resolution of a new rFVIIa analogue. METHODS: Assuming a German payer perspective, this literature-based model tracks a hypothetical cohort of severe haemophilia patients with inhibitors over their lifetime. A semi-Markov model was used to simulate patient movement through health states at 3-month intervals. Modeled outcomes include lifetime direct treatment costs, cost per bleeding episode, life-years, and quality-adjusted life years (QALYs) across a continuum of home and inpatient care. One-way sensitivity analyses were performed on all model variables and two-way sensitivity analyses on key variables. RESULTS: Using base-case assumptions from the literature, rFVIIa was associated with measurable lifetime cost savings compared with pd-aPCC (€ 2,962,833 vs. € 4,664,971, respectively) and reduced total cost per bleed compared with pd-aPCC (€ 17,614 vs. € 19,435, respectively). Reducing the number of rFVIIa infusions per bleed from 2.3 to 1.5 resulted in incremental cost savings of € 248,033, while 20% utility improvement in rFVIIa conferred a 3.14 additional QALY gain. Sensitivity analyses confirmed the robustness of base case findings. CONCLUSIONS: This exploratory model is a valuable tool for physicians to assess the impact of current treatment patterns over a patient’s lifetime and to potentially identify optimal practice patterns. Availability of bypassing agents with improved efficacy profiles could result in significant improvement of patient care.