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MODEAC is a revolutionary new web-based modelling platform underpinned by a novel and robust methodology as an alternative to traditional, slower methods. MODEAC enables its users to quickly create powerful economic models that analyse and evaluate the cost-effectiveness of health interventions. The user-friendly interface allow users to quickly build robust models faster, with a high degree of flexibility and with the ability to create multiple iterations from the same base model. Models which previously took up to several weeks to build can now be completed in a few hours.
Advantages
MODEAC: a user-friendly UX for experts and non-experts alike
no complicated programming required: use out of the box
extremely fast and powerful: build and run in minutes. Runs calculations 10,000 times faster than similar models in Excel
back-engine removes need for setting up complex calculations as a model is built
displays results in tabular and graphical form instantly
bank of generic models included to make building models easier
refreshes and keeps all versions of previous models (time-stamped) for multiple comparisons.
Robust models, delivered faster
MODEAC is underpinned by a novel and robust methodology as an alternative to traditional, slower, Markov-based methods. This now means that models which previously took up to several weeks to build can now be completed in a few hours.
Intuitive and easy
MODEAC’s intuitive web-based interface allows the user to start building models quickly, providing a high degree of flexibility and simplicity. A key benefit of this flexible system is the ability to create multiple iterations from the same base model.
Multiple applications
MODEAC is a fast and flexible resource, which can deliver results in a number of important areas, for example:
As a fast and flexible tool in pricing strategy and commercial planning, for example in scenario testing and war games.
As an “accelerant” for health economics outcomes teams preparing submissions, e.g. to NICE. MODEAC allows multiple fast iterations of a calculation to be run prior to investing time in building a labour-intensive traditional Markov model.
“A good experience using MODEAC. Nice to be able to pull a model together quickly, with a fast and easy setup. This speed and versatility opens a number of doors in terms of commercial applications, fast hypothesis-testing and in cost-and resource-saving in the early stages of submission preparation”
“A valuable resource, filling an unmet need currently served by spending additional budget on specialist agencies. Not as a replacement to submission tools, rather as a valuable cost-saving device and “accelerant” in the process of building a submission.”
Principal Investigator
Team led by Professor Richard Fordham
Further Details
For more information on this licensing opportunity, please contact the IP Office.