Reduction of Employee Turnover Costs Not only will a technology-driven research site help team members optimize their day-to-day work and increase skills for their own career trajectory, but its very existence saves costs associated with employee turnover. Universal insights and advanced reporting and audit trails found in eBinders, for example, ensures that a single source of truth and repeatable processes are maintained regardless of site turnover, PI turnover and monitor turnover. Monitor turnover continues to plague the industry: “In 2018, CRA turnover rates in the U.S. reached a five-year high of nearly 30%,” according to a new report from BDO USA, LLP. With clear insights into the previous monitor’s activity and monitoring progress, a new monitor logging into eBinders can essentially pick up where the last one left off without burdening the research site. Elevation of Industry Reputation Having an essential clinical research technology like eRegulatory at your research site is a powerful factor for being selected for a study by a CRO or sponsor. eRegulatory gives these stakeholders advanced ability to easily extract and review data and documents, understand the research site’s productivity and study timeline levels, and finally, contributes to the overall ease of doing business with your site(s). For a Sponsor, this is more poignantly expressed in the findings summarized in the March/April Tufts CSDD Impact Report, which found that “the clinical site initiation process—time needed to identify and select sites and begin studies—takes an average of nearly eight months, longer than it did a decade ago, and remains inefficient.” The research continued stating, “[The] total duration from site identification to study start-up completion is 31.4 weeks, one month longer than the average duration observed 10 years ago. 28% of engaged investigative sites are new relationships with no prior history or familiarity of working with a CRO or sponsor, a proportion that is expected to increase as more clinical trials focus on rare diseases and highly targeted patient sub-populations.”
The ROI of an eRegulatory Platform
www.FlorenceHC.com © Florence Healthcare
Page 12 of 14
Made with FlippingBook Digital Proposal Creator