Purpose: To compare the strategy for mild stimulation IVF versus conventional stimulation IVF. Methods: A decision tree analytic model was created to compare IVF with mild stimulation versus convention stimulation in infertile women <38 years of age to evaluate which strategy is the least costly per live birth. Results: Using base-case estimates of costs and probabilities in women <38 years old with unexplained infertility, the cumulative live birth rate in the mild versus conventional stimulation group was 15.8% versus 28.6%, respectively. The average cost for mild and convention IVF was $8789 and $14,364 per arm, respectively. In base case analysis, the ICER was $43,516 representing the additional cost per live birth with conventional IVF. One-way sensitivity analysis evaluated the robustness of the data and revealed a tradeoff in which mild IVF stimulation had lower total costs and also lower live births versus conventional stimulation. Conclusions: Mild stimulation IVF has a lower cost per cycle but is also associated with lower live birth rates. Patient care decisions should be individualized irrespective of cost.