Modelling Cost-Effectiveness in Healthcare

  • Online certificate course
  • Department of Health Policy
  • Application code OCC-RCH
  • Starting 2021
  • Short course: Open
  • Location: Global


As global healthcare expenditures continue to rise, public and private health systems are under pressure to reduce costs and improve operational efficiencies through rigorous financial management.

The Modelling Cost-Effectiveness in Healthcare online certificate course will equip you with the tools to design, analyse, and interpret cost-effectiveness models in your context. Designed by faculty from the Department of Health Policy at LSE, this technical course will teach you to conceptualise a model, inform resource allocation decisions, and analyse a cost-effectiveness study. The Department’s world-class faculty bring unparalleled policy experience, and theoretical and methodological approaches to their work. With insight into this expertise, you’ll learn how to apply a discretely integrated condition event (DICE) simulation, and examine how it can be used as an alternative approach to typical health economics procedures. 

Over eight weeks, you’ll explore key modelling techniques and discover how to source quality data to input into a variety of models. With guidance from LSE thought leaders, you’ll examine economic theory that provides a landscape in which modelling techniques can be applied and gain practical skills in cost-effectiveness modelling.

CPD Certified

This online certificate course is certified by the United Kingdom CPD Certification Service, and may be applicable to individuals who are members of, or are associated with, UK-based professional bodies. The course has an estimated 70 hours of learning.

Programme details

Key facts

Registrations close: 1 June 2021

Course start (Orientation opens): 9 June 2021

Module 1 starts: 16 June 2021

Duration: 8 weeks (excluding orientation)

Commitment: 7 - 10 hours per week

Fee: £2,200

Course outcomes

  • Gain an in-depth understanding of the foundations of cost-effectiveness analysis
  • Discover how models can influence and aid the decision-making process when allocating resources
  • Develop the technical skills to source, identify, and analyse high-quality data
  • Examine real-world examples and future considerations of cost-effectiveness analysis
  • Gain practical Excel skills to develop and adapt decision-analytic models to your unique organisational context

Programme structure

  • Orientation Module
  • Module 1: Foundations of cost-effectiveness analysis
  • Module 2: Introduction to modelling methods
  • Module 3: Identifying and reviewing data for cost-effectiveness analysis
  • Module 4: Discretely integrated condition event (DICE) simulation
  • Module 5: Interpreting model results and making decisions under uncertainty
  • Module 6: Building conceptual models of real-world processes
  • Module 7: Discrete event simulation for health technology assessment
  • Module 8: Future perspectives on cost-effectiveness analysis


Professor Alistair McGuire – Professor of Health Economics and Head of Department, Department of Health Policy, LSE

Alex Carter – Senior Lecturer in Practice, Department of Health Policy, LSE

Dr Ranjeeta Thomas – Assistant Professor of Health Economics, Department of Health Policy, LSE

Jaime Caro – Professor in Practice, LSE


There are no prerequisites for this course.


This course is presented entirely online, in collaboration with leader in online education, GetSmarter. View this Modelling Cost-Effectiveness in Healthcare online certificate course on the GetSmarter website.

Modules are released on a weekly basis, and can be completed in your own time and at your own pace. 

This interactive, supportive teaching model is designed for busy professionals and results in unprecedented certification rates for online courses.

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