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About the Role

Health Economists at Costello Medical develop 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 medical sector. These models are quantitative assessments of the impact of healthcare treatments, practices and policies, either through cost-effectiveness analyses or separate cost and benefit considerations. They are typically built in Microsoft Excel or R employing universal mathematical and statistical modelling techniques and are often used to support HTA submissions in various markets. Model development can frequently involve fitting statistical distributions and parametric survival curves to clinical data and therefore requires a good knowledge of statistics. The models developed by our Health Economists have real-world implications, aiming to improve the efficiency of healthcare systems by using robust methodological frameworks to inform decision-making.

Responsibilities

Build high-quality, technically robust and clinically valid models in Microsoft Excel or R
Building and deploying web-based user-interfaces for models
Research and critically appraise medical and economic literature
Understand the theoretical health economic framework and apply this to the project at hand
Liaise with external medical professionals
Work collaboratively and build relationships with colleagues across healthcare disciplines
Interpret and analyse model results, producing technically accurate written reports of methodologies and outcomes
Operate effectively as projects evolve rapidly, responding to changing client needs and deadlines
Balance multiple projects simultaneously, prioritising workload to ensure high-quality delivery
Use sound judgement alongside analytical thinking and problem solving skills to navigate uncertainty, including incomplete data, evolving project scopes and methodological ambiguity

Requirements

Advanced skills in Excel and knowledge of VBA
Strong technical capability in R. A willingness to learn and improve technical and programming skills is critical for the role.
Python experience is desirable but not required
Experience in economic or mathematical modelling. This may be academic or industry experience and does not have to be specifically in healthcare but can be advantageous
Excellent written and oral communication skills and the ability to explain complex modelling techniques and results to those unfamiliar with the terminology
The ability to thrive in a fast‑paced consultancy environment, managing multiple projects simultaneously while learning quickly
Comfort working with uncertainty, including the ability to adapt to changing priorities, project scopes or data availability
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 in both quantitative and qualitative settings
Proficient problem‑solving skills, with the capacity to approach complex analytical challenges logically and creatively
Strong organisational skills and the ability to plan your own work effectively
Integrity, a proactive approach to your work, and a keen interest in developing your skills
Candidates will ideally be based in our Bristol office. However, the role is also available in our Global Headquarters in Cambridge as well as our Manchester and London offices.
You are required to submit your CV and a cover letter via our online application form.
Your CV should clearly state the dates of all qualifications and grades achieved where applicable.
In your cover letter, you must: Describe your understanding of the Health Economist role and its place within healthcare decision‑making, Provide examples of technical projects that demonstrate your quantitative and modelling skills, specifying the software and techniques used, Reflect on the personal or professional skills you believe are most important for succeeding in this role and how you have demonstrated these in your past experiences.
The recruitment process includes a technical and proofreading assessment which requires you to use Excel.
If you achieve the pass mark for both assessments, you will be invited to an interview which will include a short presentation you can prepare for in advance.
As an equal opportunity employer, we are committed to fostering a diverse and inclusive workforce and, throughout the recruitment process, there are a number of reasonable adjustments we can provide.
Please note that, whilst we embrace AI to innovate and improve processes, your role may involve confidential data that cannot be uploaded to AI. Therefore, it is important for us to assess your own skills and abilities, so we recommend that you do not rely solely on this technology to generate any application materials.
Due to the Skilled Worker visa regulations, you will only be eligible for visa sponsorship if you are classified as a New Entrant, which includes applicants who are under the age of 26, currently studying in the UK or a recent graduate in the UK, amongst other qualifying criteria.
You will be asked to provide details of your right to work in the UK within your application, which will be used to help assess your eligibility for visa sponsorship.
For current Student visa holders, in most cases you will be unable to join us in a permanent full-time position until you have submitted your Graduate visa application.

Skills

Excel
VBA
R
Python
Statistics
Mathematical modelling
Economic modelling
Quantitative analysis
Problem-solving
Analytical thinking
Communication
Organisational skills

Location

Bristol
Cambridge
Manchester
London

Work Type

Full-time
Permanent
Hybrid
Flexible working

Experience Level

Entry level (with relevant qualifications)
Graduate

Education Level

Degree level or higher qualification in a relevant discipline (minimum 2.1)
A-level in Mathematics (minimum B grade or equivalent)
Master’s degree in a quantitative discipline (graded Merit or above)

Salary/Compensations

£42,000 per annum

Benefits

Discretionary profit share bonuses paid twice per year
Hybrid and flexible working options
Generous holiday allowance
Private medical insurance
Critical illness cover
Income protection
Full funding for external training
25 days’ annual leave plus bank and public holidays
Holiday buy and sell scheme
Flexible working hours
Work from home for up to half of your working time after passing probation
Flexible benefits scheme offering cash payments, additional pension contributions and more
Private Medical Insurance which offers comprehensive cover on a “medical history disregard” basis
Paid study leave and funding for external qualifications
Life Assurance
Paid and unpaid sabbaticals based on length of service
Work from home 1 day per week during probationary period

About the Company

Costello Medical is a rapidly growing global healthcare agency specialising in medical communications, market access and health economic and outcomes research.
We work with a wide range of clients, including the industry’s most successful pharmaceutical and medical technology companies, patient and public health bodies and charitable organisations.
We have been listed on the Top 100 Best Companies to Work For list since 2017, as well as receiving B Corporation Accreditation in 2022.

Equal Opportunity

As an equal opportunity employer, we are committed to fostering a diverse and inclusive workforce and, throughout the recruitment process, there are a number of reasonable adjustments we can provide.