Document Type
Article
Publication Date
2023
College/Unit
Chambers College of Business and Economics
Department/Program/Center
Finance
Abstract
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. The data indicates that a conservative comparison of the fully loaded costs for each technique leads to the conclusion that the RapidHit technology is less expensive than traditional DNA analysis when sampling between 183 and 57,249 samples per year. Revised April 2023
Digital Commons Citation
Speaker, Paul J., "ECONOMIC COMPARISON OF THE RELATIVE COSTS AND EFFICIENCY OF USING THERMO FISHER SCIENTIFIC RAPIDHIT™ ID SYSTEM VERSUS TRADITIONAL DNA LABORATORY ANALYSIS" (2023). Faculty & Staff Scholarship. 3282.
https://researchrepository.wvu.edu/faculty_publications/3282