ID: | 24017 |
Meeting / Value in Health Info: | ISPOR 15th Annual International Meeting Atlanta, GA, USA May, 2010 |
Code: | PMC5 |
Disease: | Multiple Diseases/No Specific Disease |
Topic: | Conceptual Papers (CP) |
Topic Subcategory: | Cost Studies including CE/CB/CU, resources use and productivity (CS) |
Title: | VALIDATING A WEB-BASED INCREMENTAL COST-EFFECTIVENESS SOFTWARE PROGRAM THAT USES A MARKOV TRANSITION PROBABILITY MATRIX ANALYSIS MODEL |
Author(s): |
McGhan W, Zaveri V, Willey VJ, Gohil NUniversity of the Sciences in Philadelphia, Philadelphia, PA, USA |
Content: OBJECTIVES: Commercial software can be expensive when conducting pharmacoeconomic analyses. We developed a free web-based software program, which incorporates Markov transition probabilities to compare the cost-effectiveness of any two treatments. The web-based software program was based on the model described in a decision modeling for health economic evaluation textbook, edited by A. Briggs. This Markov web-based software program calculates the incremental cost-effectiveness based on Markov matrices using multi-state transition probabilities, along with corresponding Markov state costs and utilities and graphically displays the results, using JavaScript algorithms and is available free at www.healthstrategy.com. The variable inputs for two treatment options include state transition probabilities, number of cycles, cost per state, and utility per state. The software creates a plot of incremental costs versus incremental utilities in cost-effectiveness quadrants; and with death as an absorbing state, also graphs life expectancy curves for two treatment comparisons. The objective of this study was to validate this free web-based software. METHODS: The Excel spreadsheet structure and data downloaded from the web for the specific example described in the modeling textbook were used as the reference case. RESULTS: For the example used, considering four transition states for each therapy option, and 20 cycles with no discounting, the MS Excel spreadsheet model versus the web-based JavaScript software compared as follows: average incremental US dollar costs: ($67701 vs. $67853), average incremental utility: (5.89 vs. 5.90) and average incremental cost-effectiveness ratio:($11500 vs. $11494). CONCLUSIONS: This free web-based Markov matrix JavaScript program gives similar results as the MS Excel spreadsheet model. With this free software, the user can input their own therapy parameters, and generate incremental costs, incremental utilities, life expectancy curves, and incremental cost effectiveness ratios. This free web-based software has potential benefit as an educational tool for students and health professionals interested in exploring these analytical approaches. |