Over the years, the size and complexity of conducting clinical trials have grown tremendously. The recent pandemic has only increased the need for robust, efficient, and quick trials that aid therapeutic and treatment development. However, the cost of conducting such trials can’t be ignored. The estimated cost of bringing a viable drug to the market is $2 billion.
The most significant portion of such a mammoth cost is associated with conducting human clinical trials, specifically phase III trials. Those involved in clinical research, such as pharmaceutical companies and medical device manufacturers, are constantly looking for ways to optimize their costs in clinical trials. At the center of optimization is implementing robust clinical trial data management software that helps streamline processes. Let’s look at some ways through which clinical trial specialists can optimize their costs.
You can adopt a patient-centric approach when conducting clinical trials. It shifts the responsibility of data collection towards the patient. You can conduct such processes by implementing a robust EDC system where patients can fill in critical data from their homes, and you can receive it at your research center.
A patient-centric model eliminates the need for 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.
One of the most significant cost accumulators during the clinical trial is monitoring. Researchers spend a lot of time monitoring every data point in a clinical trial, which can be costly and time-consuming. Implementing robust clinical trial data management software will ensure that you don’t need to monitor every data point.
Risk-based monitoring can save you a lot of money by reducing the staff required on trial. A robust EDC system can help implement risk-based monitoring as you’re not required to be at your site for a considerable amount of time. You can monitor everything remotely through a modern EDC system.
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. An EDC-powered clinical trial will be fast, effective, and produce reliable results. Manual processes take time, and sensitive clinical trials need quick and efficient results to help in developing medicines and treatments. EDC systems are crucial in such aspects.
Where To Find EDC Software?
If you’re looking for electronic data capture (EDC) systems that can help you cut costs and improve the efficacy of your clinical trials, then check out ClinicalPURSUIT. We are pioneers in providing quality medical technology and have helped several organizations implement robust systems.
Our state-of-the-art products and services list includes Randomization and Drug Supply Management, Intelligent Electronic Data Capture System, Clinical Trial Data Management Services, Electronic Patient-Reported Outcome Software, and more. Schedule a one-on-one free demo today!