There is no denying the fact that clinical research is quite expensive, especially if you are considering outsourcing to a CRO. The cost can vary according to the type of research and the medicinal and therapeutic development in question. It is hard to precisely budget for a clinical trial, as they can vary as you go along. Therefore, it is essential to have flexibility in your budget when conducting trials.
In saying that, you can consider outsourcing your clinical trial to a specialist CRO who can take care of all your needs. It will cost you money, but nearly not as much when you decide to conduct the trial yourself. You need to have all the stakeholders on board to make such decisions. You’d also need to find a CRO with significant capabilities and tools such as EDC systems for clinical trials that will help you get positive results. Let’s look at the critical cost considerations involved when outsourcing to a CRO.
Monitoring is quite expensive in a clinical trial. As a researcher, you’re likely to spend significant time monitoring processes to ensure their efficacy. Outsourcing to a CRO will ensure that you have significant time and resources on hand to carry out other fundamental tasks. Monitoring every data point in a clinical trial can be costly and time-consuming.
Using CROs outsourcing services will ensure that your trial is in safe hands. Risk-based monitoring can save you a lot of money by reducing the staff required on trial. A robust CRO can implement an EDC system that aids in remote monitoring. You can monitor everything remotely through a modern EDC system.
A patient-centric approach is a key to reducing your costs in a clinical trial. Now, you may not have the needed systems to conduct a patient-centric trial. A CRO can use a robust eCRF system that shifts the responsibility of data collection toward the patient. The CRO will be responsible for encouraging patients to fill in critical data from their homes.
A patient-centric model eliminates the need for having a physical presence at sites as data is collected and stored automatically. There is no need to activate and monitor sites, hire external staff and pay their salaries. It also improves the patient experience as they no longer have to visit research sites for data collection.
Implement an EDC System for Patient Studies
One of the best ways to optimize your clinical trial costs is to implement a robust clinical data management & EDC system that can help streamline processes and ensure a successful clinical trial. If you don’t have the budget and resources to implement such a system, then look for a CRO who has advanced EDC systems that can produce reliable results.
Electronic Data Capture (EDC) Systems by ClinicalPURSUIT
Struggling to find an intelligent electronic data capture system for your research? You’ve come to the right place! ClinicalPURSUIT are pioneers in providing quality CTMS solutions that’ll help you automate your processes, provide real-time reports, and help you collaborate with your peers.
We also offer various other services such as Randomization and Drug Supply Management, Electronic Patient-Reported Outcome Software, etc. Schedule a one-on-one free demo today!