diff --git a/DESCRIPTION b/DESCRIPTION
index 0a90b6c..3ae3cc3 100644
--- a/DESCRIPTION
+++ b/DESCRIPTION
@@ -1,6 +1,6 @@
 Package: psm3mkv
 Title: Evaluate Partitioned Survival and State Transition Models
-Version: 0.3.0
+Version: 0.3.1
 Authors@R: c(
     person("Dominic", "Muston", , "dominic.muston@merck.com", role = c("aut", "cre"),
            comment = c(ORCID = "0000-0003-4876-7940")),
diff --git a/NEWS.md b/NEWS.md
index cc2e363..e29ecb4 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -1,3 +1,5 @@
+# psm3mkv 0.3.1
+
 # psm3mkv 0.3.0
 
 # psm3mkv 0.2.2 (4 May 2024)