A new steel reinforcement that can be used instead of reinforced concrete members is introduced. The proposed reinforcement is called the Prefabricated Cage System (PCS) is an alternative to the rebar cage used in traditional reinforced concrete for faster, easier, and more reliable construction. Prefabricated Cage System is fabricated by perforating hollow steel tubes or steel plates. The resulting Prefabricated Cage System acts as transverse and longitudinal reinforcing steel, working compositely with the surrounding concrete to resist the applied loads. The economic benefits gained from using Prefabricated Cage System reinforcement are studied. The cost and time savings earned in structures with Prefabricated Cage System reinforced columns have been analyzed. The cost and time savings have been evaluated in a case study considering various interest rates and structural lifetimes. In this study, the various designs for the openings and the minimum percentage of steel used for the Prefabricated Cage Member for attaining the various Mechanical strength are to be found out.