DrugDev Study Finds Positive NPV Associated with Pharma Organizations Sharing Data on Sites and Studies
Study describing a model for quantifying real-world operational benefits of cross-company data sharing for clinical study planning and investigator selection published in Applied Clinical Trials
A DrugDev study published in this month’s Applied Clinical Trials magazine found that data integration and data sharing across pharma companies has a positive ROI. Although the magnitude of savings varies depending on internal company factors (e.g., number/size of studies, non-enrolling sites, rescue sites, start-up costs), the article presents an ROI of $8 million over a 5-year period for a typical pharma company.
The peer reviewed article, “To Share or Not to Share? Exploring the Benefits from Cross-Company Data Sharing for Study Planning and Investigator Selection,” was co-authored by DrugDev senior executives Elisa Cascade MBA and Claire Sears PhD, and Tammy Klein MBA of Hobson & Company. You can read the article here.
Nearly 75% of the ROI to an average company is driven by 3 benefits: (1) reducing the number of non-performing sites; (2) increasing investigator engagement; and, (3) decreasing time spent by staff and CRAs on site start-up. While we had difficulty quantifying the magnitude of benefit, all companies using the ROI model also agreed that collaboration with data sharing would decrease IT time/costs of investigator and site data mastering, especially for companies which have grown through mergers and acquisitions.
Elisa Cascade explained, “We conducted interviews with customers from 13 pharma companies and CROs. In every case, we found data integration and sharing through the DrugDev Platform has the potential to increase operational efficiencies, decrease budget expenditures, and enhance investigator engagement.” To quantify the value of collaboration, Hobson & Company developed an ROI model that can be configured to evaluate company-specific value.
The authors advise companies looking for ways to gain clinical operations efficiencies to consider investing in technology that enables evidence-based site selection through the integration of multiple sources of investigator, site, and study data. Integrating a view across these sources is likely to result in identification of more qualified investigators which in turn facilitates more rapid recruitment as well as fewer zero enrolling sites.
“Our experience with the DrugDev Platform,” Elisa Cascade commented, “is that the more organizations which agree to collaborate on investigator-facing activities and share data, the greater the level of value realized by all participating companies. What’s even more exciting is the potential for collaboration with data sharing to decrease investigator burden and associated investigator turnover, thus enabling the industry to do more trials.”
To read the article click here.