RESEARCH TRIANGLE PARK, NC--(Marketwire - April 23, 2009) - The ability to consistently meet
trial deadlines is the most important quality a clinical research
organization (CRO) can offer its clients, according to Cutting Edge
Information's latest report, "Clinical Outsourcing Strategy: Selecting
Partners and Managing Relationships." In fact, 19 of 21 survey respondents
ranked a CRO's skill to meet deadlines as either "extremely important" or
"very important" when choosing which CRO to hire.
Missed deadlines are nearly unavoidable during the clinical trial process,
often due to lackluster patient recruitment. Every time a trial runs over,
costs escalate and targeted milestones such as regulatory submission get
pushed back even farther. Being able to guarantee trial duration, on the
other hand, prevents these damaging results and makes planning easier.
"Meeting deadlines does not necessarily mean the CRO must produce more in
less time," says Jeremy Spivey, research analyst for Cutting Edge
Information and lead author of the report. "Just having the ability to
gauge how trial protocols will manifest in real life enables CROs to help
sponsors plan better trials and budget based on real-world projections.
That saves everyone from financial and organizational strain."
In this environment, says Spivey, the lowest project bids do not guarantee
new clients. Sponsor companies have experienced too many trial delays to
overlook a CRO's history of meeting -- or failing to meet -- deadlines.
Cutting Edge Information's report examines clinical outsourcing trends and
provides strategies for eliminating common obstacles in CRO selection and
management. It shows trial sponsors how to formulate a proactive
outsourcing strategy, establish criteria for selecting a vendor and manage
day-to-day CRO relationships. It also breaks down the risks and benefits
of outsourcing to underdeveloped countries.
Key metrics measure the following vendor-selection criteria:
-- Overall cost and preferred status in CRO selection
-- CRO size and geographic reach
-- Vendor work quality
-- Relationship management
-- Different CROs' ability to meet deadlines
The report also breaks down the outsourcing timeline with a focus on the
following points:
-- Number of CROs submitting proposals by clinical phase
-- Weeks elapsed from proposal deadline to final CRO/vendor selection by
clinical phase
-- Time spent negotiating contracts with CROs/vendors
Free report brochure available here:
http://www.clinicaloutsourcingstrategy.com.
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Contact Information: CONTACT:
Contact
Jeremy Spivey
919-433-0373