ROI Approaches and Assumptions How can the ROI of eRegulatory and eSource tools be calculated? Using input from NCI centers, we detail how tools like Florence eBinders return 2 to 7x their cost each year via six economic benefits totaling nearly $20,000 in potential positive economic benefit per study:
Per Study Benefit
Per Study Impact
Revenue from the capacity to run more studies $12,000
Cost reduction from streamlined workflows
$3,600
Revenue from startup bonuses
$2,000
Risk reduction through compliance assurance $2,000
Revenue from document management
$1,000
Cost reduction during remote monitoring
$400
The next sections will detail how the Florence team got to these six conclusions. Throughout we’ll use the following simplistic assumptions for cancer research centers. Other disease areas will be directionally similar, contact your Florence representative (info@florencehc.com) to help adjust these figures for industry-sponsored research outside of cancer. Readers can extrapolate from these assumptions to apply the six frameworks to their research center: • Center activity: 50 active studies per year • Average study annual revenue: $100,000 • Median fully-loaded annual cost of study personnel $75,000
20K Financial Impact per study
The ROI of an eRegulatory Platform
www.FlorenceHC.com © Florence Healthcare
Page 4 of 14
Made with FlippingBook Digital Proposal Creator