5 Ways Academic Research Organizations Can Cut Clinical Trial Costs

HealthcareAcademic Research Organizations (AROs) face one specific challenge in performing clinical research: strict budget requirements.  AROs usually secure funding from the institution itself, private foundations or even government funding, however with economic downturns and budget costs, AROs are finding it increasingly difficult to secure the appropriate funding for research. Many have partnered with large pharmaceutical companies to bring new drugs to market, but in this case, the university usually takes on a CRO role performing data collection and analysis activities to help the pharma companies cut costs. 

To maintain the integrity of original academic research, ARITHMOS has identified 5 potential ways to cut clinical costs implementing basic technology solutions.

  1. Go Paperless. By now, even AROs can recognize the benefits of EDC vs paper. Besides higher data quality, better patient compliance and real time results, using electronic data collection can significantly reduce costs. Those evaluating the clinical data will have access to data in real time and can make decisions that will reduce trial timelines. The financial benefit of EDC systems is that they produce an overall better Return on Investment in terms of quality and efficiency.
  2. Enlist an expert to define requirements. You’ve made the decision to go paperless, now consult a technology/EDC expert to define user requirements for your organization. Technology business analyst with expertise in life sciences suggest time-saving and cost-cutting measures and make sure your system is compliant with Best Practices and regulatory requirements.
  3. Select an EDC Vendor Wisely: While you’re primary concern may be budget, consider the intuitiveness and operational effectiveness of EDC systems as well as possible integration with ePRO devices. These are all requirements to define in the evaluation phase which can save costs in the long run. Lastly, be sure your EDC vendor provides technical support to prevent cost consuming errors.
  4. Join the Cloud. Consider EDC and pharmacovigilance solutions offered in cloud computing mode – or Software as a Service (SaaS). Cloud solutions can offer scalability, flexibility, self-service and pay-as-you-go options. This allows clinical researchers to pay for the functionalities needed and not pay for those not applicable to the study.
  5. Consider eLearning. Any time a new technology is implemented, training is needed for all users. Rather than factoring in travel and logistical expenses for training purposes, ask your technology provider for an eLearning solution that can be completed in-house and at the user’s pace. This will not only reduce the training budget, but will increase compliance.

ARITHMOS SOLUTION

ARITHMOS caters to the requirements of AROs by defining user requirements that meet strict budgets. As your technology provider, an expert business analyst will define user requirements and provide complete technical support.

ARITHMOS has an EDC solution specifically tailored to the needs of AROs. Symphony EDC is a simple, easy-to-use, intuitive EDC system that has the main functionality of EDC as is relatively inexpensive. This EDC platform is available as Software as a Service and is therefore customizable and with payment options that reflect the functionalities used. Training can be done by academic leaders directly to the end users.

For more information, visit http://www.arithmostech.com or http://www.symphony-edc.com.

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