We're especially excited about the potential for collaboration with data sharing to decrease investigator burden and associated investigator turnover, thus enabling pharma to do more trials.
KING OF PRUSSIA, PA (PRWEB) August 19, 2016
A DrugDev study published in this month’s Applied Clinical Trials magazine found that data integration and data sharing across pharma companies has a positive ROI. Although the magnitude of savings varies depending on internal company factors (e.g., number/size of studies, non-enrolling sites, rescue sites, start-up costs), the article presents an ROI of $8 million over a 5-year period for a typical pharma company.
The peer reviewed article, “To Share or Not to Share? Exploring the Benefits from Cross-Company Data Sharing for Study Planning and Investigator Selection,” was co-authored by DrugDev senior executives Elisa Cascade MBA and Claire Sears PhD, and Tammy Klein MBA of Hobson & Company. You can read the article here: http://bit.ly/ACTDrugDev
Nearly 75% of the ROI to an average company is driven by 3 benefits: (1) reducing the number of non-performing sites; (2) increasing investigator engagement; and, (3) decreasing time spent by staff and CRAs on site start-up. While we had difficulty quantifying the magnitude of benefit, all companies using the ROI model also agreed that collaboration with data sharing would decrease IT time/costs of investigator and site data mastering, especially for companies which have grown through mergers and acquisitions.
Elisa Cascade explained, “We conducted interviews with customers from 13 pharma companies and CROs. In every case, we found data integration and sharing through the DrugDev Platform has the potential to increase operational efficiencies, decrease budget expenditures, and enhance investigator engagement.” To quantify the value of collaboration, Hobson & Company developed an ROI model that can be configured to evaluate company-specific value.
The authors advise companies looking for ways to gain clinical operations efficiencies to consider investing in technology that enables evidence-based site selection through the integration of multiple sources of investigator, site, and study data. Integrating a view across these sources is likely to result in identification of more qualified investigators which in turn facilitates more rapid recruitment as well as fewer zero enrolling sites.
“Our experience with the DrugDev Platform,” Elisa Cascade commented, “is that the more organizations which agree to collaborate on investigator-facing activities and share data, the greater the level of value realized by all participating companies. What’s even more exciting is the potential for collaboration with data sharing to decrease investigator burden and associated investigator turnover, thus enabling the industry to do more trials.”
To read the article click here: http://bit.ly/ACTDrugDev
DrugDev’s unified clinical suite enables sponsors, CROs and sites to do more trials through industry-wide collaboration, standardization and a beautiful technology experience. Featuring solutions for global site payments, site identification and activation, workflow optimization, learning management, and site and patient engagement, DrugDev helps companies transform the quality and efficiency of clinical trials from startup through closeout. The company also powers the revolutionary TransCelerate Investigator Registry and Investigator Databank collaborations with the universal identifier known as the DrugDev Golden Number. Learn more at drugdev.com