Markov Cohort Simulation in Excel

This was my first Health Economics data analysis project, where I used a YouTube video to guide me through the process of Markov Cohort Simulation.

For each model, I created a Transition Matrix, as well as ‘Pay-offs’, where I detailed the Costs and QALYs for each state. There were 1000 patients in each model, as well as 40 cycles generated.

This document shows the calculations for each model.

Markov cohort simulation

.xlsx

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