A systematic process whereby an institution may perform a pharmacoeconomic analysis of all direct medical costs associated with the diagnosis and treatment of venous thromboembolic events (VTEs) that reflects both institution-specific costs and clinical practice patterns is described. Current Content, International Pharmaceutical Abstracts, and MEDLINE were searched to identify English-language articles addressing procedures for diagnosing and treating symptomatic deep-vein thrombosis and pulmonary embolism. From the information gathered, a diagnostic algorithm and a resource spreadsheet were developed. The diagnostic procedures were classified as standard, alternative, confirmatory, or supplemental. The spreadsheet resources were assigned priorities based on practice standards and quantified on the basis of units typically used in the clinical setting. Three major categories of resources were identified: diagnostic, treatment, and laboratory test monitoring. Diagnostic procedures consisted of five subcategories containing 31 cost resources, treatments consisted of nine subcategories with 26 cost resources, and laboratory monitoring tests consisted of 9 cost resources. Units of use for all resources identified were also noted. A systematic process utilizing a diagnostic algorithm and a spreadsheet was developed to facilitate the determination of institution-specific costs associated with the diagnosis, treatment, and laboratory test monitoring of VTEs.