Updated: The infographic was replaced on 12-Feb.
If you are a procurement or operations professional responsible for delivering successful clinical trials, you will be under constant pressure to keep your budgets in check and meet study deadlines, to ensure your company’s drugs make it to market before the competition.
As you know, it costs on average $50K to activate a single site, regardless of its final performance. Some ‘waste’ may be inevitable but a recent study from Cutting Edge Information* showed that, between 2008 and 2011, per-patient clinical trial costs rose by an alarming 70%. 46% of this increase is attributed to patient enrollment: some sites never manage to enroll a single patient; even worse, others wait for a long time and eventually recruit one patient but still have to expend resources and supplies until the patient completes the study or withdraws. Under-performing sites result in budget overruns – almost $2 billion dollars wasted in the global pharmaceutical industry between 2006 and 2010, delay the introduction of new drugs and ultimately seriously jeopardize revenues.
Clinical Trial Optimization
If only you could use predictive tools to enable you, at least, to reduce the number of non or under-performing sites, you would limit the escalating costs of conducting your clinical trials. Covance can help you do just that: by harnessing the power of the largest clinical trial knowledge base in the industry and applying advanced data analysis and modelling, Xcellerate® Clinical Trial Optimization® approach can match sites and investigators to your study requirements, thereby helping you curb costs and delays.
(Click Image to View Full Size)
Learn more about Xcellerate® Clinical Trial Optimization®:
* Source: Cutting Edge Information (Clinical Operations: Benchmarking Per-Patient Costs, Staffing and Adaptive Design)