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May 03, 2013 -- Clinical research is one of the most expensive areas of drug development. Bringing an approved new drug from initial private investment to a patient takes over 13 years and $1.3 billion, or an average of $146 million per year.1
Industry data shows clinical trials costs are growing across all development phases. A 2011 report, Clinical Operations: Benchmarking Per-Patient Costs, Staffing and Adaptive Design by Cutting Edge Information, tracked costs for 100 trials across multiple therapeutic areas finding that per-patient clinical trial costs rose an average 70% from 2008 to 2011.2 The largest increases occurred in Phase IIIa and Phase IIIb. Phase I trials are also suffering from cost inflation, with per-patient costs increasing by an average 46% over the same time period.3
Electronic Data Capture (EDC), which collects clinical trial data electronically rather than on paper, is becoming an increasingly popular solution for streamlining data processing. This white paper will review benefits that EDC brings, extending beyond, and contributing to, cost-efficiency. It will also discuss challenges and limitations that sponsor companies can expect when implementing EDC solutions in clinical research.
The paper lists and details the main benefits of EDC: 1 - Cost-saving 2 - Time-saving 3 - Cleaner data and reduced queries 4 - Traceability 5 - Simplified monitoring 6 - Reduced data entry 7 - Reactivity 8 - Reusability 9 - Mid-study changes 10 - Patient Safety
Read the full white paper on www.clinovo.com/resource-center/white-papers
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