Markov models (Multistate transition models) are mathematical tools to simu
late a cohort of individuals followed over time to assess the prognosis res
ulting from different strategies. They are applied on the assumption that p
ersons are in one of a finite number of states of health (Markov states). E
ach condition is given a transition probability as well as an incremental v
alue. Probabilities may be chosen constant or varying over time due to pred
efined rules. Time horizon is divided into equal increments (Markov cycles)
. The model calculates quality-adjusted life expectancy employing real-life
units and values and summing up the length of time spent in each health st
ate adjusted for objective outcomes and subjective appraisal. This sort of
modeling prognosis for a given patient is analogous to utility in common de
cision trees. Markov models can be evaluated by matrix algebra, probabilist
ic cohort simulation and Monte Carlo simulation. They have been applied to
assess the relative benefits and risks of a limited number of diagnostic an
d therapeutic procedures in radiology. More interventions should be submitt
ed to Markov analyses in order to elucidate their cost-effectiveness.