The pharmaceutical sector is challenged to apply out-of-the-box thinking and speed the adoption of new solutions to better address future global health emergencies. Though the pharma industry has often been slow to adopt new technology, the COVID-19 pandemic has ushered in a new ‘age of urgency’ for developing treatments and vaccines.
One area in particular – unaffected by regulation or therapeutic nuances – is the business side of clinical trials. Both sponsors and service providers spend an enormous amount of time managing these critical functions in Microsoft Excel or aged point solutions. The resulting inefficiency may go unnoticed during good times, but it’s a critical point of failure when plans change. Strategikon Pharma is out to modernize outsourcing by digitizing core processes to achieve efficiencies and speed time to market. Clinical Maestro represents a giant leap forward to improve business process management and decision making, from clinical trial planning to budget simulation through outsourced services management for clinical trials, end-to-end.
Clinical Maestro’s secret sauce marries process and data to provide business users with rich, actionable insights. It helps users extract insights from clinical trial data and optimize their processes. Improved processes lead to better quality data creating a cumulative effect that helps pharma and biotech companies attain firm control over their business operations, be it defining a funding strategy or optimizing the bidding process.
“Clinical Maestro is part of the tool set for clinical trials alongside other major digital initiatives such as virtual trials or risk-based monitoring”, says Anca Maria Copaescu, Founder and CEO of Strategikon. “We are now seeing unprecedented need for flexibility, resource management and long term sustainability.
No one foresaw the COVID-19 Pandemic or its dramatic impact on clinical trial management,
but we can learn and improve through investments in technology and process optimization that will ultimately reinvent the clinical trial business model”. In the wake of the COVID-19 Pandemic thousands of new trials will be put on hold. Existing trials will be rescued, re-planned and ultimately restarted. Pharma companies will face producing impact analyses, mid-year and total budget reforecasts and an ‘interesting’ 2021 with reduced resources. “Clinical Maestro’s ability to model clinical study scenarios and evaluate the impact on cost, timelines and operational strategy becomes critical when everyone from the CFO to the Head of Operations needs to quickly determine an optimal course of action. Clinical Maestro’s advanced automated scenario modelling and contract budget management can help pharma companies manage the massive amount of change orders and pipeline reforecasting that are expected in the wake of the Pandemic.”
Upon return to normalcy, the pharmaceutical industry will be presented with another major challenge: making up for the lost time by restarting new studies quickly, onboarding new service providers and reducing the overall cost of outsourcing. “I cannot imagine a better tool than Clinical Maestro in a time crunch when efficiency is critical”, says Anca. “Outsourcing departments will soon be overwhelmed with RFP initiation, bid evaluation and due diligence and mandated to save cost - all in record time. Clinical Maestro delivers both savings through fair market value negotiations and efficiency by reducing the RFP to award cycle by up to 75%”.
Strategikon’s record of client success springs from three key characteristics: a singular focus on modernizing the business side of clinical trials, technical excellence, and a customer-centric approach. Anca explains, “Our team of domain experts has lived through the same pain that our clients are experiencing. This motivates us! Unlike companies who chart their technology roadmap with a ‘company vision’, we are driven by our ‘customer’s vision.’ Resolving customer challenges and constantly learning from every interaction and engagement is part of our daily repertoire. We obsess over listening to clients and creating tools that are simple and easy-to-use so they get the maximum value from them.”
Strategikon Pharma is offering Clinical Maestro pro bono to any company Sponsoring COVID-19 clinical trials, in order to help researchers battle this public health emergency faster. For further information please see www.clinicalmaestro.com
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