Analytics and Metrics Help Pinpoint Costs of Study Startup
Using data analysis, it's time to introduce parallel processes to optimize and accelerate studies
The clinical trials sector has done a good job tracking costs associated with study execution, but costs linked to study startup are conspicuously absent. A quick look at industry research confirms this gaping hole in cost accountability. For Phase III clinical trials, for example, it is widely recognized that total costs are substantial, ranging from an estimated $11.5 million to $52.9 million, depending on therapeutic indication. Upon closer examination, it is apparent that identified costs are almost exclusively tied to study execution, and rarely include details on the hefty costs incurred early on, namely those tied to study startup and site overhead. In fact, data from an often-quoted 2014 study published by the Department of Health and Human Services (DHHS) indicate that unaccounted for costs may represent upwards of 43% of the total cost of conducting a clinical trial.
Download our white paper "Analytics and Metrics Help Pinpoint Costs of Study Startup" to learn how by embracing a systematic, data-driven approach, it is possible for metrics to identify more accurately the best sites, steps causing delays, the associated costs, and why this is happening
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