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Unlocking Clinical Trial Efficiency: Embracing Digital Solutions
Clinical trials can be both costly and time consuming, but there are solutions that can help lower costs and create efficiencies. This article provides insights and tips that are sure to help you overcome some of the obstacles keeping you from optimizing your clinical trials.
If you work for a life sciences company specializing in the development of new drugs and therapeutic biological products, then you are probably aware that costs associated with clinical trials have skyrocketed. In fact, according to a 2018 study published in JAMA Internal Medicine, they have increased by nearly 100 percent over the last 10 years.
Clinical trials alone now cost life science companies, on average, anywhere from $12.2 million to $33.1 million. One of the biggest reasons for the rise in cost has to do with optimizing how the trial is conducted and the resources used to execute it.
The good news is, technologies are available today that can help pharmaceutical developers save significant time and money, while also improving processes and workflows. However, CIOs need to look beyond traditional clinical applications and work to implement digital solutions developed specifically for clinical trials, but that also keep the entire enterprise in mind. The reason for this is simple; traditional technologies are somewhat siloed and do not always stretch across research department boundaries. For organizations focused on agile methodologies, this old way of managing clinical trials makes no sense.
