← Back to glossary

Monte-Carlo simulation is a computational technique that repeatedly samples values at random from the probability distributions assigned to a model's uncertain inputs, running the model many times to build up a distribution of possible outputs that reflects the combined effect of that uncertainty. In health economics it is the engine of probabilistic sensitivity analysis, propagating parameter uncertainty through to incremental costs and effects and enabling outputs such as cost-effectiveness acceptability curves and scatter on the cost-effectiveness plane. It is also used within individual-level and stochastic models to represent chance variation between patients. The reliability of its results depends on running sufficient iterations for the outputs to stabilise and on the appropriateness of the input distributions chosen.

Our Services

Market Access Analytics and Insight

Market Access Analytics and Insight

Our Market Research & Analysis service is uniquely tailored for the medical device & Life…

NICE HTA Strategy and Submission

NICE HTA Strategy and Submission

Navigate the complexities of NICE Health Technology Assessment (HTA) submissions with our expert strategic guidance.…

Health Economics and Outcomes Research (HEOR)

Health Economics and Outcomes Research (HEOR)

Specialising in economic modelling for the medical device and life sciences sectors, our HEOR service…

Strategy Development

Strategy Development

Leading in market access, Strategy Development from Health Analytical Solutions moves beyond just market entry…

Reimbursement Strategy and Support

Reimbursement Strategy and Support

Reimbursement Support, tailored for the complex NHS landscape, aids medical device and life sciences companies…

NHS Drug Tariff Submission Support

NHS Drug Tariff Submission Support

Our NHS Drug Tariff Submission Service offers specialised expertise in health economics, crucial for navigating…

Private healthcare

Private healthcare

Delivering a comprehensive analysis of the UK's private healthcare sector, the Private Healthcare Landscape service…

Value Proposition Development for MedTech

Value Proposition Development for MedTech

Unlock the potential of your MedTech innovation with our Value Proposition Development service. At Health…

Primary Care Market Insights

Primary Care Market Insights

Unlock the potential of the primary care market with our in-depth Primary Care Market Insights…

Stakeholder Engagement for Health Technologies

Stakeholder Engagement for Health Technologies

In the complex ecosystem of healthcare, effectively engaging with key stakeholders is fundamental to the…

Sustainability and NET Zero for MedTech

Sustainability and NET Zero for MedTech

In an era where sustainability is not just an option but a necessity, MedTech companies…

Evidence Generation and Management

Evidence Generation and Management

In the MedTech sector, the value of an innovation is increasingly measured not just by…

Dashboard Tools for Market Access

Dashboard Tools for Market Access

Navigating the complexities of market access requires not just data, but insights that can drive…

MedTech Sales Team Empowerment

MedTech Sales Team Empowerment

The UK's National Health Service (NHS) represents a unique and complex market for MedTech sales.…

NHS MedTech Business Case Formulation

NHS MedTech Business Case Formulation

Securing NHS adoption for MedTech innovations demands not just outstanding technology but also a compelling…