Costello Medical
Health Economist
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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 September 2026 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: 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.
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. Producing an economic evaluation therefore requires Health Economists to:
- 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
In this role, you will be working on multiple projects at any one time, starting at around 3 to 4 projects. The consultancy environment is fast-paced and dynamic, and you will be expected to:
- 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
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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/health-economist.html
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:
- 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
- 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
- An A-level in Mathematics (minimum B grade or equivalent) or a Master’s degree in a quantitative discipline (graded Merit or above)
- 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
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.
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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
- 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.
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. 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.
Then, our recruitment process includes a technical and
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