A targeted literature review of methodological publications was performed to get an overview of modelling challenges of PM, as well as a systematic literature review of economic evaluations of PM. Out of the 192 economic evaluations identified, 55% did not address any of the identified modelling challenges of PM. Subsequently, we discussed best modelling practice in interviews with selected experts, including modellers and end-users from all over the world. The experts believed large uncertainty to be a key concern. Uncertainty regarding treatment effectiveness (due to small study sample sizes) was considered especially prominent, as well as uncertainty whether the often-complex clinical pathways in PM are accurately reflected in economic models. We synthesised and used the findings of the literature reviews and the interviews to draft a set of recommendations. These were presented and discussed at a virtual HEcoPerMed workshop with stakeholders and finalised into a set of 23 recommendations. These recommendations can be used by modellers of PM as well as evaluators and reviewers of health economic PM models. Eight recommendations focus on the modelling of test-treatment pathways. The use of non-randomised controlled trial (RCT) data is discouraged but several recommendations are provided in case such data is unavailable. The parameterisation of structural uncertainty is suggested. Other recommendations consider perspective and discounting; premature survival data; additional elements of value; patient and clinician compliance; and managed entry agreements. The manuscript with the full list of recommendations has been submitted to a scientific journal and will be made available on our website as soon as it is published.