Genetic testing promises to improve quality of care and lower healthcare costs through the development of predictive one-time assays that will help practitioners personalize the diagnosis and treatment of health conditions. One of the frontrunners in this burgeoning field is pharmacogenomic (PGx) testing, which uses genetic markers to anticipate a patient’s response to medications, improving their efficacy and safety. Historically, genetic testing has suffered from an insufficient number of studies that demonstrate economic utility. However, in the past few years, the gap in our understanding of the cost-effectiveness of PGx testing has narrowed. This whitepaper aims to provide a review of current knowledge surrounding PGx testing with regard to cost-effectiveness and to highlight where evidence clearly supports its use.