Managing your new study pipeline is a critical component of any successful research site. In order to keep a continual steam of studies rolling into your site it is very important to keep s sharp eye on your study pipeline. Understanding your pipeline and planning accordingly can ensure that you never have gaps in new studies and that you are always on the radar of potential study sponsors. Lets take a look at some of the basic components of managing a study pipeline. In the coming weeks and months we will continue to explore this interesting topic.
Know Your Desired Workload
One important factor that is often overlooked in the pipeline management process is the desired workload for your organization. Do you continually want to be growing and work on more and more studies, or do you want to work to maintain the same level of studies? If you don’t have a clear vision it can impact how you manage your study pipeline, and it also impacts the amount of time you need to dedicate to the process.
Know Your Percentages
What do we mean when we say “know your percentages?” While it would be wonderful if every study we tried to win was awarded to us, the reality is that is never the case. This is why it is important to understanding how many “wins” you get versus how many studies you went for and are not awarded. Knowing this will tell you your “win percentage. “For example if you attempt to get 10 new studies for your site, and are awarded 6 you have a win percentage of 60%.
Let’s take this one step further, you now know your win percentage. This is where the previous point about knowing your desired workload comes into play. Let’s start by saying that your organization wants to start 9 new studies. Now that you know your desired workload and win percentage, you can determine how many studies you need to go for in to get the number of studies you want. If we use our 60% win percentage from before, we need to attempt to win 15 new studies to get the 9 studies we desire.
Know Your Cycle Times
Just as important as knowing your win percentage is understanding you “cycle times.” Cycle time refers to the amount of time it takes to go from initial interest in a study to officially being awarded the study. Understanding how long it takes to go through the process is important because it tells you when you need to start looking for new studies in order to have them in place during the time you want to start.