49.4 Within-Cycle Correction in Excel models

If a Markov Model uses Within-Cycle Correction, as opposed to a Traditional Markov model (with or without Half Cycle Correction), then the Strategy Calcs and the State Details sheets will include additional data columns.

The Health Care Tutorial Example Markov Conversion Model WCC.trex is already configured to use the Within-Cycle Correction method. The figure below of the Markov View shows different rewards compared to a Traditional Markov model.

The Strategy Results sheet for WCC Markov Models uses the same format as the Extended Markov Cohort Report. The column headings will indicate that the values are derived from WCC calculations.

The State Details sheets are expanded to include columns for how the payoffs would be accumulated prior to WCC followed by the adjusted payoffs after WCC is applied. By comparing those data columns, you can validate the WCC calculations.

If the model was converted with the Single Sheet per Strategy, then the format of the Strategy Results would include all of the States with additional columns before and after WCC, in a similar way as displayed in the State Details figure above.