THE DEVANA SPRING CLEANING CHECKLIST
By Barry Lake CEO & Executive Chairman, at Devana Solutions LLC
April 4th, 2017
At the risk of sounding like Martha Stewart, I was inspired by these early days of Spring to create my own list of tips to get your clinical trial site all spruced up and looking good, ready to build your business and win more trials.
- GIVE YOUR DATA A SCRUB
There are more than 6,000 clinical research sites in the US alone. With a few notable exceptions, trial sites are a cottage industry, fragmented, relationship-driven with little data publicly available to drive effectiveness. A site with great data is part of the solution – then you can prove the effectiveness of your site.
- PUT YOUR PERFORMANCE ON DISPLAY
‘Good’ trial sites are the ones that enroll more patients faster; follow the protocol, producing clean and accurate data in a timely manner; don’t leave too many outstanding questions or let them linger when the trial is complete. Overall, they reduce the cycle time and lower costs. If you are one of these sites – you need to get your story out there to the CROs and Sponsors.
- TIDY UP THE MESSY BITS
What strong data will also tell you is where your performance needs a little buffing up. So take a look at where performance could be stronger and make a plan to invest in that area of your game.
- HELP CLEAN UP A $20B PROBLEM
It is estimated that 50 cents in every $ spent by a sponsor to develop a new drug is paid to trial sites. Yet, according to research conducted by Devana Solutions® of publicly available data, around 25% of the entire clinical trial spend is deployed on zero-enrolling or under-enrolling sites. That makes it a $20bn annual problem. The more sites which adopt technology to capture data to prove their effectiveness, the quicker we can make a hole in that number.
- BRING A LITTLE SUNSHINE
Everyone wants to lower the cost of prescription drugs to patients. ‘Everyone’ includes the President of the United States and all the pharma companies which are under such scrutiny for their pricing practices. The escalating cost of drug development is the major factor behind the high prices. A more efficient clinical trial site industry would play a huge part in lowering costs and reducing the cycle time, without reducing effectiveness or increasing risk.
We believe the technology that Devana Solutions® is bringing to the clinical trials industry is a game-changer – using Devana Solutions® Ignite for Sites technology, the ‘good’ sites use performance metrics data that enables them to demonstrate their effectiveness and the sites that need to improve get valuable data that helps them to see where they need to invest and strengthen their performance.
And it all makes for a better looking and attractive clinical trials site sector.
ABOUT DEVANA SOLUTIONS LLC:
Devana Solutions® is a SaaS provider driven by a core belief that data transparency and data analytics technology to aid in selection of the top-performing Research Sites to align with pharmaceutical sponsors and CROs is key to reducing drug costs and curing disease. Devana Solutions® IGNITE FOR SITES cloud-based technology adds value to top Research Sites by centralizing study leads and contacts, automating pipeline administration and study document tracking to cut management time in half while proprietary algorithms simultaneously track site timing and performance metrics from study lead through trial completion. With a couple of mouse clicks, these metrics can be standardized into robust reports for drug sponsors and CROs to validate the sites’ capabilities. Devana Solutions® MATCH PERFORMANCE reduces site selection risk for sponsors and CROs by providing dashboard and report capabilities not limited simply to a site’s historical trials; but, real-time site performance & timing metrics on currently running trials, improving trial feasibility and performance while reducing clinical trial cycle time and costs. Devana Solutions® technology is leading a transformation of the clinical trials industry and each investigative site’s “Devana Score” will become the “S&P Global Ratings”-equivalent for the clinical trials industry against which clinical trial performance by sites is measured. To learn more visit http://devanasolutions.com.