How to Do Probabilistic Sensitivity Analysis (PSA) in Excel

This video shows you exactly how to run a Probabilistic Sensitivity Analysis (PSA) in Excel using a simple Markov model to compare two treatments in a cost-effectiveness framework for health technology assessment (HTA). 💊💷🧮 Want to learn how to build the Markov Model I’m using in this Tutorial? Watch this 👉 https://www.youtube.com/watch?v=UWJ7kVZZcQA&list=UULFCWndUzziarMjA4pDG1ps2A&t=1s ---------------------------------------- CONNECT WITH ME 📲 Twitter: https://x.com/vonHeinMirko LinkedIn: https://www.linkedin.com/in/mirko-von-hein-b9885110b/ Instagram: https://www.instagram.com/mirkovonhein Facebook: https://www.facebook.com/profile.php?id=61566466527249 Website: https://mirkovonhein.com/ ---------------------------------------- PHARMA GLOSSARY 🔍 A free tool to decode industry terms, abbreviations, and acronyms in pharma. Explore it here: https://mirkovonhein.com/pharma-glossary/ ---------------------------------------- TIMECODES ⏰ 0:00 Intro 0:29 Markov Model Used in this Tutorial 0:50 Parameter Sheet Setup 2:10 How to Make a Markov Model Stochastic / Probabilistic 3:15 Assigning Distributions to Input Parameters 3:33 Beta Distribution for Transition Probability Inputs 5:23 Gamma Distribution for Cost Inputs 6:28 Beta Distribution for QALY / Utility Inputs 6:43 Assigning Parameter Names & Updating Model Engine 8:34 PSA Results Sheet Setup 9:29 Visual Basic for Applications (VBA) Code 9:37 Enable VBA / Developer Tab & Create a New Macro in Excel 10:03 VBA Code to Run Probabilistic Sensitivity Analysis in Excel 11:09 Adding a RUN Button and Running the VBA Code 11:41 Reset PSA Functionality – How to Implement via VBA 12:16 Creating a Scatter Plot in Excel 13:14 Generating the Cost-Effectiveness Acceptability Curve (CEAC) 14:15 Visualising Model Convergence Using PSA 14:42 Call to Action ---------------------------------------- SUBSCRIBE TO MY CHANNEL 🔔 https://www.youtube.com/@MirkovonHein?sub_confirmation=1 ---------------------------------------- REFERENCES 📚 VBA Code Deep Dive with Tristan Snowsill (Senior Health Economics Lecturer at the University of Exeter): https://www.youtube.com/watch?v=eUujcpS-OQk ---------------------------------------- TEMPLATES 🗂️ Download the Markov Model (WITHOUT PSA) I used for this Tutorial: https://github.com/MvonHein/Markov-Cohort-Simulation Download the Markov Model (WITH PSA) I used for this Tutorial: https://github.com/MvonHein/PSA-Enabled-Markov-Model ---------------------------------------- HASHTAGS 🏷️ #HealthEconomics #MarkovModel #ExcelVBA