Health Economist

Role Summary

• Responsibilities: You will be responsible for developing economic models to inform decisions on the efficient allocation of resources available to healthcare providers, and communicating these insights to a variety of stakeholders
• Salary: £42,000 per annum (please note that we have established salary bands that are determined by your level of educational attainment to ensure a fair and consistent approach for all applicants, eliminating the need for individual negotiations)
• 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 and more
• Role Type: Full-time, permanent
• Start Date: We are currently recruiting for start dates from September2025 onwards, and you will be asked to state your availability on your application form
• Application Deadlines: Whilst there are no set application deadlines, we strongly recommend applying as early as possible. The role, or particular start dates, may close when suitable candidates are found
• Location: This role is available in our Global Headquarters inCambridge, as well as our London, Manchesterand Bristol offices

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, R, or C++, employing universal mathematical and statistical modelling techniques. Model development can frequently involve fitting statistical distributions and parametric survival curves to clinical data and therefore requires a good knowledge of statistics. In this role, you will typically be working on multiple projects at any one time, starting at around 3 to 4 projects at a time when you join us.

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. Producing an economic evaluation therefore requires Health Economists to:

• 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
• Build high-quality, technically robust and clinically valid models in Microsoft Excel or other software
• Interpret and analyse model results, producing technically accurate written reports of methodologies and outcomes

Hybrid Working Policy: We believe that having face-to-face time in the office holds many benefits and is central to ensuring that the community we have created, where people have a workplace they belong to and feel part of, is never lost. At the same time, we recognise that homeworking can improve work life balance, reduce commuting times and costs, and provide the opportunity to juggle personal commitments. Therefore, we offer flexible working arrangements that allow our colleagues who have passed probation to work from home up to half their time, measured across a 2-week rolling period. During your probationary period (normally the first 6 months of the role), you will be able to work from home 1 day per week.

A Day in the Life of a Health Economist

To learn more about a typical day for a Health Economist at Costello Medical, please click here: https://www.costellomedical.com/day-in-the-life/he…

Career Profile

To learn more about the personal and professional development opportunities at Costello Medical, explore first-hand career profiles from our colleagues about their experiences with the company: https://www.costellomedical.co.uk/careers/working-at-costello-medical/

About Costello Medical

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. Please click here to learn more about us, our work and our mission: https://www.costellomedical.com/

About You

Alongside a genuine interest in the healthcare industry and a strong desire to contribute to projects in this setting, essential requirements for the role are:

• A degree level or higher qualification in a relevant discipline (minimum 2.1). Relevant disciplines are those that demonstrate a high level of technical and mathematical ability, such as mathematics, economics, physics or computer science
• A-level in Mathematics (minimum B grade or equivalent)
• Advanced skills in Excel and knowledge of VBA. A willingness to learn and improve technical and programming skills is also 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 in both quantitative and qualitative settings
• Strong organisational skills, the ability to plan your own work effectively and the flexibility to respond to changing deadlines
• Integrity, a proactive approach to your work, and a keen interest in developing your skills

Desired requirements for the role are:

• Formal degree level or higher qualification (i.e. postgraduate) training in statistics or modelling (minimum 2.1)
• Familiarity with other software such as R, C++, STATA
• Experience of having applied economic and mathematical modelling techniques in an industry setting

Joining Costello Medical from Academia

At Costello Medical, we warmly welcome applicants from academia who are looking to transitioning into a role within a commercial, industry-based setting. We understand the unique perspectives and valuable skills that academic professionals bring to our team. To support your career change, we offer comprehensive training, mentorship programs, and a work culture that fosters collaboration, growth and innovation. We are committed to facilitating a smooth transition and helping you thrive in an industry-based setting.

Many of our team members have successfully made this transition, and they share how their expertise has been transformed into fulfilling, impactful careers with us. Learn more here: https://www.costellomedical.com/careers/working-at-costello-medical/joining-from-academia/

What We Offer

Alongside our award-winning company culture, where every team member is celebrated, respected, and has their voice heard, we are proud to offer a comprehensive benefits package which includes:

• A starting salary of £42,000 per annum, depending on your previous experience, as well as a discretionary profit share bonus paid twice per year. Please note that we have established salary bands that ensures a fair and consistent approach for all applicants, eliminating the need for individual negotiations
• 25 days’ annual leave plus bank and public holidays, as well as a holiday buy and sell scheme
• Flexible working hours and the chance to 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
• Critical Illness Cover, Income Protection and Life Assurance
• Paid and unpaid sabbaticals based on length of service

Please click here to learn about our full reward package and the other benefits of working for Costello Medical: https://www.costellomedical.com/careers/benefits-package-in-the-uk/

The Application Process

You are required to submit your CV and a cover letter via our online application form. In your cover letter, you must explain why you think you would be suited to the role and why you would like to join Costello Medical, with examples to support both. Your CV should clearly state the dates of all qualifications and grades achieved where applicable.

Then, our recruitment process includes a video interview which can be conducted at your own convenience within the given time frame. If successful, you will be sent 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. Our standard recruitment process lasts around six weeks however, this can be adapted if necessary.

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 click here to learn more.

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.

Visa Sponsorship

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. Please read more about the New Entrant criteria: https://www.gov.uk/government/publications/skilled-worker-visa-caseworker-guidance/skilled-worker-caseworker-guidance-accessible#bookmark63

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.

Please check the following link to read more about the criteria on the UK government website: https://www.gov.uk/skilled-worker-visa/when-you-can-be-paid-less. Please contact recruitment@costellomedical.com should you have any questions.

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