Top 5 Metrics for Winning More Studies: Part 2

 

Last week we featured the Top 5 Metrics for Winning More Studies, Part 1. In part 2 of our feature, we’ll introduce you to the Devana Solutions IGNITE platform for Sites. IGNITE is an easy-to-use software platform that simplifies the complex pipeline management process by consolidating all trial opportunities in one place.  IGNITE makes the management of business development, contact management, start-up activities, study execution and performance metrics easier and faster.

Purpose & Value Proposition.

Benefits:

  1. An end to end solution to easily capture data, or manage data form other systems such as CTMS.
  2. Track and report all timing and performance metrics.
  3. One custom platform for transparency, efficiency and accountability.
  4. Better data helps operations to:
    • Identify bottlenecks, implement improvements and performance benchmarks
    • Increase revenue by negotiating from a position of strength, trend identification and optimizing trial opportunities.
    • Demonstrate reliability, predictability and accountability to Sponsors/CROs.
    • Use data trends to allocate resources, develop new capabilities and identity areas for growth.

Trial Milestone Tracking & Reporting.

Benefits:

  1. Customized milestones and workflows to manage entire start up process.
  2. Real-time metrics and reports on individual and aggregate trial performance.
  3. Current recruitment numbers, enrollment rate and contract percentage.
  4. Trial stage automatically advances as milestones are completed.
  5. Compare internal vs. Sponsor/CRO timelines for key milestones.
  6. Track key budget and negotiation details.
  7. Automated and custom reminders and tasks assigned to staff for key milestones.

Timing and Performance Metrics Reports.

Benefits:

  1. Combined trial data for analysis and trend identification.
  2. 100+ standard reports.
  3. Unlimited custom reports
  4. Export, print, or create a visual dashboard.
  5. View data for any time-frame.

Real-Time Study Status Reports.

 

Benefits:

  1. View full study pipeline, stage and compare progress across all sites.
  2. Full visibility of workflows and next steps across the team- saves time and reduces risk.
  3. Establish benchmarks to improve efficiency and measure improvement.

Devana Solutions®, LLC is a SaaS provider driven by a core belief that data transparency through technology is critical to selection of the top performing research sites to align with pharmaceutical Sponsors and CROs to reduce drug development costs and cure disease. Devana Solutions® offers three platforms, IGNITE, PROPEL and IQ for sponsors and cros, to provide historical and real-time data capture, aggregation and display to drug development stakeholders.

For questions and to schedule an introductory call or demo, contact Barry Lake, CEO & Co-Founder.

Barrylake@devanasolutions.com

(301) 471-6962

Top 5 Metrics for Winning More Studies: Part 1

Metrics in a Changing Site Landscape

Today’s research organizations face more challenges than ever before. Cycle time reduction, operational efficiency and standardization, revenue growth, and regulatory needs are increasing the complexity of site operations.

Many research organizations look to operational data and metrics to track, manage, and ultimately improve their performance in key areas. As Sponsors/CROs collect data on sites for their own use, it’s even more important for a site to know their own metrics.

While there are hundreds of data points and metrics that can be measured, they typically fall into the categories of timing or performance metrics.

Key timing and performance metrics are then used to find bottlenecks and establish benchmarks to improve operational efficiency, and to help win more study awards through demonstrating a site’s predictability and reliability to a Sponsor/CRO.

Here are the top five metrics used by research organizations successfully winning more awards aligned with their capabilities using the Devana Solutions operations and analytics platform.

 

#1 – Time from Award to Active

Why Track?

This metric, measured in number of days, demonstrates that your site can mobilize quickly, and reflects the level of organization and efficiency a Sponsor/CRO can expect from your site.

 

What to Measure?

The Site Activation Date – The Date of Award = The Time from Award to Active in days. Calculate the average or median across all trials.

 

Bonus Tip!

Not impressed with your site’s performance data? Use the data to reflect an improvement. Is there a positive trend (Ex. 25% reduction in the last 2 years)?

 

#2 – Days from Active to Screening

Why Track?

This metric, also measured in number of days, shows that once a site is activated, they are immediately screening patients. This is reflective of a thoroughly planned and executed Patient Recruitment Strategy.

 

What to Measure?

The Date of First Patient Screened – Site Activation Date = The Days from Active to Screening. Calculate the average or median across all trials.

 

Bonus Tip!

As trials can have unexpected delays out of a site’s control, measure days from Site Activation rather than Start Date. Once Activated, there are fewer variables that can impact a site’s timing.

 

#3 – Contract Met Percentage by Indication

Why Track?

Almost half (49%) of sites awarded a trial either under enroll or do not enroll at all.

As the saying goes: “past performance is the best predictor of future success.” This metric represents a site’s historical enrollment performance within an indication and is one of the best predictors of expected enrollment.

Showing that the contracted number of patients within an indication is met, or even exceeded, reduces the risk to the Sponsor/CRO in awarding a trial to your site.

 

What to Measure?

By Indication: Completed Number of Patients / Contracted Number of Patients x 100 = The Contract Met Percentage on the Trial. Calculate the percentage across all trials in the same indication.

 

Bonus Tips!

Track the Primary and Secondary Indications to have options in reporting, and more relevant data.

Once you’re tracking completed trials, start measuring currently running trials to see trends.

Determine your trends! How does this metric look as a 2-year average? 12 months? Across all historical trials?

 

#4 – Patients Completed, Screened and Enrolled by Primary Indication

Why Track?

Three different metrics: 1) Patients that have Completed a Study; 2) Patients who have been Screened; and 3) Patients Enrolled. Patients Completed or Screened are more likely to participate in a trial which – from the perspective of a Sponsor/CRO – means a site should not have enrollment issues and is likely to enroll faster.

Patients Enrolled shows current performance in that indication and, simultaneously, that the site is not overextended in that indication.

 

What to Measure?

Completed Number of Patients from all historical trials, by Primary Indications.

All Patients Screened for a primary indication, track by Primary Indications.

Patients Enrolled on all current trials within Primary Indications.

 

Bonus Tip!

Track Secondary Indications as well for options in reporting and more relevant data.

 

#5 – Studies in Indication by PI and Site

Why Track?

Demonstrates the experience of the PI and site within the indication which communicates experience and confidence to the Sponsor/CRO. Experience within the indication can also mean quicker enrollment or certainty of reaching or exceeding contracted enrollment.

Tracking pending, enrolling and completed trials tells a story of the ability of the PI and site to deliver results, and shows that other Sponsors/CROs have trusted the organization with their study.

 

What to Measure?

For each PI and site, track studies in the pipeline, in progress, and completed. Track the primary indication and any relevant secondary indications for each study for help with filtering future search results.

 

Bonus Tips!

Also track the Sponsor/CRO on each study to show indication experience with those specific organizations.

Track other relevant PI experience such as having been a Sub Investigator, certifications, credentials, awards and recognition, interest in other indications, and for new PI’s, track those interested in doing research.

 

Recommendations and Next Steps

Having the data and metrics through tracking all relevant associated trial details such as CRO, Sponsor, Indication, etc. provides options on how to tell your site’s story when seeking trial awards from Sponsors and CROs.

Metrics for winning awards are part of the larger pool of Site Operations Metrics. To win more awards, track and analyze your site’s key timing and performance metrics.

The best time to plant a tree is 20 years ago, the second-best time is today! If you don’t have historical data, start now! Most organizations only provide two years or less of performance metrics.

Start small with the five key metrics provided, but if you want even more awards and site efficiency now, Devana Solutions can import any historical data and have a site automatically capturing new metrics within a few weeks.

Research organizations using the Devana platform know that our technology and their metrics are proven to standardize workflows, improve communication, cut trial cycle times and win more awards.

Next week, in part 2 of this series, we’ll spotlight a few features of the Devana platform. For questions, or to learn more, explore our website, DevanaSolutions.com, or contact us today.

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About Devana Solutions, LLC

Devana Solutions®, LLC is a SaaS provider driven by a core belief that data transparency through technology is critical to selection of the top performing research sites to align with pharmaceutical Sponsors and CROs to reduce drug development costs and cure disease. Devana Solutions® offers three platforms to provide historical and real-time data capture, aggregation and display to drug development stakeholders: IGNITE for sites and PROPEL for networks,advanced operations and data analytics technology for sites and site networks and IQ for Sponsors and CROs. www.devanasolutions.com

Contact: Matt Smith, Executive Director, Strategic Partnerships msmith@devanasolutions.com (608) 285-2151