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Herein, a finite element simulation framework for phase‐change memory devices that simultaneously solves for current continuity, electrothermal heating, and crystallization–amorphization dynamics using electrothermal models and dynamic material parameters that are functions of electric field and temperature is described. In this latest model, an electric field‐ and temperature‐dependent electrical conductivity model of stable amorphous Ge₂Sb₂Te₅(GST) obtained from experiments performed on GST line cells to study Read, Reset, and Set operations of mushroom cells is incorporated. The effects of current polarity, heater height, Reset pulse rise and fall times, access device configuration, and ambient temperature are analyzed. The simulation results predict a 2x change in Reset current requirements with different current polarity due to thermoelectric effects. Heater height plays a significant role in thermal losses; ≈16% decrease in Reset current for 4x increase in the heater height is obtained. Increase in the ambient temperature results in a linear decrease in the Reset power required to achieve the same Reset/Set resistance contrast.