For research sites, it’s important to select the right studies for their organization. All too often, sites become concerned with simply taking whatever study comes along. Unfortunately, failing to vet potential studies can have long-term consequences. Luckily, a CTMS can make study selection much more streamlined. By using a CTMS to track various metrics within your organization, you can develop a clearer picture of how your site operates, allowing you to find the perfect studies that fit your key strengths and help you attain maximum profitability. Below are just three of many metrics you can track with a CTMS to improve your study selection process.
Patient Database Analytics
When reviewing a potential study, a key step in your process should be to analyze your CTMS patient database. A great CTMS will give you the filtering capabilities to look up the ideal patients for your potential study. From here, you can get a number of potential patients that could possibly be recruited for a relatively low cost. If this number is low, you can eliminate the study. If you have the right number of patients, then you can begin to make a call list for once you choose to accept the study.
Even with a large database, some recruitment will be necessary. Recruitment can quickly get expensive depending what channels are used and for how long. By tracking recruitment effectiveness, you can develop a clear picture overtime of how to successfully market your studies to specific demographics. Eventually, you will be able to generate accurate estimates of recruiting costs which can be used to rule out studies or for more negation power with sponsors.
Cost of Procedures
Studies often lose money because they don’t understand truly understand the costs of each required procedure in a study. With a CTMS, you can lay out the cost for each procedure and visit for a study to get a clear picture of how much everything will cost. Now, with this information, you can negotiate the right amount of money from sponsors. What’s more, tracking your procedure costs can quickly show you whether or not a potential study is feasible or not.