The importance of managing the clinical trial process cannot be overstated. With budgets in the hundreds of millions of dollars, time frames measured in decades and the cost and complexity of trials increasing, pharmaceutical firms know the critical importance of managing plan accuracy and timeliness and making better resource allocation decisions.
Overcome the limitations of transaction-based systems
Understanding and predicting the exact performance of a large phase 3 trial can be challenging. Forecasting with transaction-based CTMS typically follows the accrual method, with all its limitations:
- An inability to link in and update the plan based on actual spending.
- Phasing is based on a representative patient across the entire study, rather than on individual visits and their associated costs for forecast generation.
- Difficulty of integrating with other financial forecasts to present a consolidated view of the overall department.
- Finance requirements, such as accounting periods and foreign exchange rates, are not well supported.
- Lack of up-to-date accounting information.
Implement a proactive, activity-based approach
The IBM Cognos Clinical Trial Forecasting Performance Blueprint is designed to help financial professionals and clinical trial managers better forecast, plan and manage trial expenditures. It is an activity-based approach that matches expenses to activities:
- A driver-based model enables companies to allocate the right mix of resources in the right amounts, so clinical trials meet their filing dates.
- Communication is facilitated across all stakeholders in the clinical trial process.
- A standardized corporate rationale ensures a consistent, focused and cost-effective approach to clinical trial planning.
- A consolidated view of clinical trials is visible across the organization.
- Effective transfer of resources to under-performing clinical trials ensures their completion.
- Input from thousands of field-level reps is accommodated.
- Visibility and predictability into spending on the overall clinical trial is provided to senior executives.
Learn more about the IBM Cognos Clinical Trial Forecasting Performance Blueprint.
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Pharma resources
- 10 Ways to Drive Performance: Pharmaceutical Sales and Marketing white paper (100KB)
It starts with identifying your most valuable customers. It ends with budgets you can trust, and clear metrics you can track and share across your organization.
- Performance Management in Healthcare white paper (358KB)
- IBM Cognos Clinical Forecasting Performance Blueprint demo
Learn proven best practices in enrollment indicators that can affect the progress of costly clinical trials.