The Development of a Model Validation Tool to Assist in the Conduct of Economic Evaluations

Key Messages

• Model validation is critical to ensure that the results from an economic model address the needs of the decision-maker, measure what it intends to measure, and are valid. There is a need for a comprehensive and accessible tool to support both the conceptual and technical validation of models. Tools to assist in this important aspect are currently lacking.
• Through a targeted literature search, and in consultation with other health economists, CADTH developed a tool that will assist researchers and decision-makers to ensure economic models are fit for purpose and function properly.
• This model validation tool was considered robust and practical to implement through internal testing and in consultation with health economists external to CADTH.
• This tool summarizes the approach taken by CADTH in model validation. Although this is not a requirement for submissions to CADTH, the tool will help ensure a more consistent and reproducible approach to model validation for economic evaluations of all health technologies.