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Chapter 6 - Why Models Are Important in Healthcare

Published online by Cambridge University Press:  13 July 2023

Ramalingam Shanmugam
Ramalingam Shanmugam
Affiliation:
Texas State University, San Marcos
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Summary

A model is a description of the system that generates data. Box commented that some models are useful, but many are wrong. A reason exists for such a belief (Box, 2013). Nature functions in accordance with mysterious principles. Do such principles precisely fit the mathematical system humans have created? An example of such a mathematical system is the calendar. Over millennia, astronomers, scientists, and philosophers have struggled to redefine and refine the calendar. Different Tamil, Greek, Egyptian, and Sumerian calendars exist, but scholars realized an adjustment is necessary every four years to the number of days in the month of February. The current Gregorian calendar was introduced as an improvement on the Julian calendar in 1582. In a similar way to developing the calendar, modeling the chance-oriented healthcare system is a formidable task even for experts.

What is a model value? In general, values are depictions of a decision maker’s priorities. Model values are not unique to the healthcare field. Model values originated in finance. Swiss mathematician and physicist Daniel Bernoulli (1738) states money’s value decreases over time.

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Data-Guided Healthcare Decision Making , pp. 156 - 187
Publisher: Cambridge University Press
Print publication year: 2023

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References

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