“Digital transformation in the life sciences industry is powered by data,” said Raj Indupuri, CEO of eClinical Solutions. “Companies adopting formal data strategies and modern technology such as the elluminate clinical data platform are faring better.”
MANSFIELD, Mass. (PRWEB) April 23, 2020
eClinical Solutions LLC, a leading global provider of cloud-based enterprise software and software-driven clinical data services that accelerate drug development, today announced the results of The Tufts-eClinical Solutions Data Strategies & Transformation Study. Conducted with the Tufts Center for the Study of Drug Development (Tufts CSDD), the study reveals the growing number and diversity of external clinical data sources have contributed to longer database lock cycle times, resulting in downstream delays in drug development. The study found that only a third of clinical trial sponsors currently have an established data strategy in place. Given the time-consuming and labor-intensive nature of handling more diverse data sources, the study highlights the opportunity the pharmaceutical industry has to adopt new technologies and methods for managing and analyzing data to speed the drug development process.
Since 2017, large pharmaceutical companies are seeing a 32 percent increase in the time from the last patient last visit (LPLV) to database lock cycle time metric. On average, overall cycle times have increased by six days over the last two years for life sciences companies using five or more data sources. Companies that have implemented data strategies have seen marked improvement in that same metric compared to those companies with no data strategy in place.
“Digital transformation in the life sciences industry is powered by data,” said Raj Indupuri, CEO of eClinical Solutions. “The study results demonstrate that life sciences companies adopting formal data strategies and modern technology such as the elluminate clinical data platform are faring better than those companies that do not have these capabilities in place.”
“The results of this study show that sponsor companies are in transition with regards to managing rapid growth in the volume and diversity of scientific and operating data,” said Ken Getz, Deputy Director and Professor at Tufts CSDD. “All organizations are adjusting and adapting to better leverage this data with larger companies generally farther along in implementing data strategies, new mechanisms and infrastructure.”
For more on the key findings from The Tufts-eClinical Solutions Data Strategies & Transformation Study:
see Beth Harper, Senior Consultant, Tufts CSDD, discuss study highlights, read a copy of the Tufts CSDD’s March/April Impact Report: Analysis & Insight into Critical Drug Development Issues here or watch the webinar with key data presented by Ken Getz.
About eClinical Solutions LLC
eClinical Solutions is a leading global provider of cloud-based enterprise software and software-driven clinical data services. The elluminate platform provides life sciences companies with greater control of their clinical trial data. elluminate software and data driven services have been used by more than 100 life sciences companies. For more information, visit http://www.eclinicalsol.com.