What Our Health Economists Do
The Health Economist will be based in our Singapore office, and will work closely with our Asia-Pacific team, as well as collaborating with experts in our UK team.
This role is well-suited to individuals with excellent communication skills who enjoy using mathematics and statistics to problem-solve and answer real world questions relating to the economic impact of decisions in healthcare. Applicants should have a genuine interest in the healthcare industry and a strong desire to contribute in this setting.
Please click here for a short profile of current Consultant Health Economist Wrik Ghosh.
Health Economists produce economic models to inform decisions on the efficient allocation of resources available to healthcare providers, and communicate these insights to a variety of stakeholders in the healthcare industry. Economic models within the realm of healthcare are quantitative assessments of the impact of healthcare treatments, practices and policies, either through cost-effectiveness analyses or separate cost and benefit considerations. These models are typically built in Microsoft Excel, C++, or R, employing universal mathematical and statistical modelling techniques.
The models made by Health Economists have real-world implications, aiming to improve the efficiency of healthcare systems by using robust methodological frameworks to inform decision-making. Typical projects will require Health Economists to:
- Research and critically appraise medical and economic literature
- Liaise with external medical professionals
- Source and determine which model inputs are most suitable for the project
- Work collaboratively with colleagues across our service offerings (with a specific emphasis on market access and health technology assessment projects)
- Understand the theoretical health economic framework and apply this to the project at hand
- Build high-quality, technically robust and clinically valid models in Microsoft Excel or other software
- Review models built for other settings and suggest modifications that may be required
- Interpret and analyse model results, producing technically accurate written reports of methodologies and outcomes
Model development can frequently involve fitting statistical distributions and parametric survival curves to clinical data and therefore requires a good knowledge of statistics.
To read about a typical day in the life of a Health Economist please click here.
What Background Should You Have?
- A degree level or higher qualification in a relevant discipline (minimum 2.1, GPA 4 or CAP 4). Relevant disciplines are those that demonstrate a high level of technical and mathematical ability, such as mathematics, economics, physics or computer science. Formal degree-level or higher (i.e. postgraduate) training in statistics or modelling is desirable, though not required. However, applicants should feel comfortable with statistical concepts.
- Advanced skills in Excel and familiarity with other software (such as R, C++, SAS) are desirable but are not required; however, a willingness to learn new technical and programming skills is important for the role
- Excellent written and oral communication skills and the ability to explain complex modelling techniques and results to non-experts
- The ability to use your initiative and work independently, in addition to working collaboratively within project teams
- A high degree of accuracy and attention to detail
- Flexibility to respond to changing deadlines
Experience of having applied economic and mathematical modelling techniques in an industry setting would be desirable, but is not essential. We are currently interested in receiving applications both from individuals with and without prior industry experience
What We Offer
The starting salary for the role is typically S$4,000 per month, however we may be able to offer a higher starting salary for more experienced candidates. Please click here to learn about our reward package and the other benefits of working for Costello Medical.
Health Economists will receive both internal and external training tailored to their needs, whether on technical aspects of the role or on effective project management and client communication. You will be joining a small and growing team and therefore will get the opportunity to interact directly with clients extremely quickly. You will be presented with opportunities for development and tailored progression dependent on your prior experience and performance.