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Finance and Financial Management

West Virginia University

Cost Effectiveness

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Economic Comparison Of The Relative Costs And Efficiency Of Using Thermo Fisher Scientific Rapidhit™ Id System Versus Traditional Dna Laboratory Analysis, Paul J. Speaker Jan 2023

Economic Comparison Of The Relative Costs And Efficiency Of Using Thermo Fisher Scientific Rapidhit™ Id System Versus Traditional Dna Laboratory Analysis, Paul J. Speaker

Faculty & Staff Scholarship

With the emergence of any new technology, economic questions arise regarding the efficacy of the new technology in comparison to existing analytical techniques. While the question of ultimate interest concerns the return on investment (ROI) of the new technology, that ROI requires both an evaluation of the net benefits of the technology and an examination of the costs to implement the technology. In this report, we examine the full-loaded cost structure of traditional DNA analysis using fiscal year 2021 data from Project FORESIGHT and compare the cost per sample with the price structure of the Thermo Fischer Scientific RapidHit technology. …