Matthew Taylor

Director of York Health Economics Consortium

Author of: What is sensitivity analysis?

Dr Matthew Taylor is the Director of York Health Economics Consortium(YHEC) and leads the Consortium’s health technology assessment programme.  He has a PhD degree in quality of life measurement and an MSc in Health Economics from the University of York.  Matthew has led over one hundred economic evaluations for NICE, SMC and AWMSG industry submissions as well as health technology submissions in various international settings.

Matthew’s work at YHEC includes economic evaluations, model adaptations, budget impact modelling, cost-of-illness studies, quality of life research and theoretical research for clients in both the private and public sectors.  Dr Taylor is a Scientific Advisor to NICE, and a member of NICE’s Public Health Advisory Committee.  He is also Managing Director (Europe) of Minerva, an international network of health economics consultancies.

Summary: What is sensitivity analysis?

  • While economic models are a useful tool to aid decision-making in healthcare, there remain several types of uncertainty associated with this method of analysis.
  • One-way sensitivity analysis allows a reviewer to assess the impact that changes in a certain parameter will have on the model’s conclusions.
  • Sensitivity analysis can help the reviewer to determine which parameters are the key drivers of a model’s results.
  • By reporting extensive outputs from sensitivity analysis, modellers are able to consider a wide range of scenarios and, as such, can increase the level of confidence that a reviewer will have in the model.
  • Probabilistic sensitivity analysis provides a useful technique to quantify the level of confidence that a decision maker has in the conclusions of an economic evaluation.