How Can Technology Help Contract Research Firms Succeed?
pharmatechoutlook

Pharma Tech Outlook: Pharma Tech Magazine

How Can Technology Help Contract Research Firms Succeed?

Pharma Tech Outlook | Saturday, November 27, 2021

Constant communication is the first step in matching a sponsor's aims with a contract research organization’s goals.

FREMONT, CA:Clinical trials rely heavily on contract research organizations (CROs). In 2020, the CRO market was valued at 61 billion dollars, and by 2026, it is estimated to be worth 99 billion dollars. During the pandemic, CROs assisted sponsors in testing COVID vaccinations and keeping vital trials in cardiology, oncology, and rare diseases operating.

Sponsors and CROs can work more efficiently with clinical trial software since it allows them to share protocols, documents, and data instantaneously. Working jointly on protocols and study functions will be easier with this direct communication, resulting in more efficient trials. Below is how technology can help contract research firms succeed.

Define Clear objectives

If CROs want to keep receiving studies from sponsors, they must demonstrate that they can give the quality that sponsors would not get if they went to sites directly. However, contract research groups and sponsors often have diverse ideas about what constitutes a good study. This gap could explain why more than a third of sponsors are dissatisfied with their CRO's work, even though 90 percent of CROs believe they are producing high-quality trials.

Although each trial requires sponsors and CROs to sign a Clinical Trial Agreement, these CTAs do not always include key performance indicators (KPIs) acceptable to both the contract research organization and the sponsor. Although the sponsor is ultimately responsible for the contract's structure, negotiation procedures, and obligations, CROs can nevertheless play a role.

Collaborate on Goals with the Help of Technology

Constant communication is the first step in matching a sponsor's aims with a CRO's goals. Sponsors and CROs can interact more quickly and frequently by replacing some in-person meetings with video conferences or secure online chats rather than holding long, infrequent sessions. CROs can stay competitive by providing technology and the capacity to communicate rapidly. Sponsors and CROs can define KPIs that they both agree on when communicating. These can include activation times, recruiting numbers, case report form completion rates, and data quality.

Use Technology to Gather Data for Initial Decisions

It is critical to use statistics while defining goals to make them feasible. Clinical trial feasibility software, for example, could be used by a contract research firm to determine which sites are most likely to obtain enough patients for a particular study. Technology can also provide dashboards that illustrate how recruitment, documents, and tasks progress on a site. If a sponsor later questions why a CRO chose a specific venue or schedule, the CRO will provide evidence to back up their decision. This information could help explain why some sites took longer to recruit patients than others or why some sites were ultimately unsuitable for the trial.

Weekly Brief

Read Also