Clinical trials in the development of any new medicine are time-consuming as well as costly. Over the years, the pharmaceutical industry has been trying all means and ways to reduce cycle times and costs in clinical trials through clinical trial process redesign, Business Process Outsourcing (BPO) and risk-based monitoring. However, nothing worked wonders in having a transformation on the overall clinical trial process.
Fortunately, with the advent of new digital technologies, there is a huge scope to optimize the clinical development process. A recent research revealed that by 2020 digitalization will pave way for 40% of the profitability in the Pharma industry. Most of the companies hesitate to embrace digital because of alleged compliance risk and uncertain return on digital investments. But, the R&D executives strongly believe that digitalization will play a primary role in delivering patient outcomes.
Digital trial offers the following three major benefits –
From design to analysis, reducing costs comes in all aspects. Unlike, traditional clinical trials which are extremely expensive, digitally managed clinical trials focuses on results rather than wasting time and resources. It reduces costs greatly associated with unnecessary technology. Consider the cost of clinical studies with thousands of participants. By adapting to digitalization, the obtained data can be easily transmitted to study organizers. Digital collection knocks number of expensive tasks and reduces the complication of the mandatory training.
2. Get rid of Errors
Switching to digital greatly reduces the risk of human error. Nowadays, patients also prefer to use digital reporting devices. They can simply submit data on the go with their mobile devices, instead of waiting till end of the day to pen down on paper which makes the data less precise. On the other hand, digital data collection in clinical research will improve the quality of the results by eliminating most of the human errors. Digital sources provide accurate data straight to researchers and patients by removing the need of a middleman.
3. Results at a faster pace
Due to the enormous amount of data that has to be collected, entered and analyzed, it takes months or even years to release results. Faster results mean quick progress in studies. Whereas, mobile technology allows submitting data which means you will receive data in real time. When data is readily available in the system, it is much easier to generate reports quickly.
When pharmaceutical sponsors and healthcare providers switch to digitalization, we will be experiencing a picture perfect integration of all digital health tools in clinical trials. Thus, it will lead to faster and efficient clinical trials resulting in faster penetration and development.