The Development of the Biobank Collections Valuator as an Automated Tool to Determine the Noneconomic Value of Sample Collections

Biobankers rely on their experience, supplemented with a variety of tools, to help establish and sustain their operations. These tools support operations, cost determination, quality management, and governance. Costing tools have often been used to determine the economic value of a single specimen or an entire collection, with the purpose of allowing researchers to recover costs when providing access to those resources. Until recently, biobank managers have focused on deriving sample value based solely on cost-model analyses. We propose an alternative way to value collections using a web-based, automated tool for biobankers to determine the noneconomic value of biospecimen collections. The tool supports fit-for-purpose determinations for collections using common attributes and defined criteria to facilitate broader sample utility, sharing, and overall sustainability in operations.