Background-Although the benefits of drug-eluting stents (DES) for reducing restenosis after percutaneous coronary intervention are well established, the impact of alternative rates of DES use on population-level outcomes is unknown. One-year rates of death or myocardial infarction were similar in both eras. Over this time period, the incidence of target lesion revascularization increased from 4.1% to 5.1%, an absolute increase of 1.0% (95% confidence interval, 0.1 to 1.9; Pϭ0.03), whereas total cardiovascular costs per patient decreased by $401 (95% confidence interval, 131 to 671; Pϭ0.004). The risk-adjusted incremental cost-effectiveness ratio for the liberal versus selective DES era was $16 000 per target lesion revascularization event avoided, $27 000 per repeat revascularization avoided, and $433 000 per quality-adjusted life-year gained. Conclusions-In this prospective registry, a temporal reduction in DES use was associated with a small increase in target lesion revascularization and a modest reduction in total cardiovascular costs. These findings suggest that although clinical outcomes are marginally better with unrestricted DES use, this approach represents a relatively inefficient use of healthcare resources relative to several common benchmarks for cost-effective care.