Project 4

This project stands at the intersection of public health and economic sustainability. Our endeavour utilizes Markov Chain models to simulate the progression of health states and the associated transition costs, thereby evaluating the cost-effectiveness of pharmaceutical interventions versus alternative treatments.

• • Innovative Approach: We’ve adopted a state-of-the-art method that employs Markov Chains to map out the journey of patients through various health stages, quantifying the cost at each transition.
  • Strategic Analysis: This model enables us to strategically analyse the financial impact of each health state transition, providing a clear picture of the cost-effectiveness of different treatment options.
  • Optimal Resource Allocation: The insights gleaned from this analysis are pivotal in guiding the allocation of resources, ensuring that investments are directed towards the most beneficial and cost-effective treatments.

• Public Health Impact: Ultimately, our project aims to revolutionize the way we approach healthcare spending, maximizing patient outcomes while adhering to budgetary constraints.