Introduction: Between 2009 and 2012, 68Ga-somatostatin analogue PET-CT progressively replaced 111In-octreotide scintigraphy for imaging neuroendocrine tumours in WA public hospitals due to published literature demonstrating improved diagnostic accuracy and increased availability. Despite significantly improved sensitivity and specificity, 68Ga-somatostatin analogue PET is currently unfunded in Australia. This study sought to undertake cost analysis of the two modalities in a public hospital setting and to compare them with regard to patient factors such as imaging time and radiation dose. Methods: This analysis was based on retrospective clinical data from 95 111In-octreotide scintigraphies performed in 2007 and 2008 at Sir Charles Gairdner (SCGH) and Royal Perth (RPH) hospitals and 219 68Ga-somatostatin analogue PET-CT studies performed in 2013 at SCGH. Whole body effective radiation dose was derived from the radiopharmaceutical and low-dose CT scan. The cost analysis included radiopharmaceutical and imaging costs. Results: The median imaging time for an 111In-octreotide scintigraphy was 152 min at SCGH, 100 min at RPH and 20 min for a 68Ga-somatostatin analogue PET-CT scan. The mean effective radiation dose for 111In-octreotide scintigraphy was 18.1 mSv at SCGH and 13.8 mSv at RPH. The effective dose for 68Ga-somatostatin analogue PET-CT was 8.7–10.8 mSv. The average cost of 68Ga-somatostatin analogue PET-CT was four times less than 111In-octreotide scintigraphy. Conclusion: 68Ga-somatostatin analogue PET-CT is not only more accurate than 111In-octreotide scintigraphy, this study has also shown that it is significantly less expensive, delivers a lower radiation dose to patients and requires less imaging time for patients and staff. 68Ga-somatostatin PET-CT provides an important combination of both reduced cost and improved clinical care for patients.