The US CRO claims the IMPACT Express Clinical Trial Management System (CTMS) offers a new way for small to mid-sized biopharmaceutical companies to manage clinical trials and monitoring – One of the most expensive steps in the drug development process.
“Conducting clinical trials is a complex, challenging series of tasks that involves generating and consolidating data from many sources, coordinating numerous functions, and making timely informed decisions,” Patrick Nadolny, VP of Product Management, Data and Analytics Services, PAREXEL Informatics told Outsourcing-pharma.com.
Biopharmaceuticals companies can save time and money by applying integrated processes and data driven approaches to trial management and monitoring according to Nadolny, who said the firm's new technology simplifies the process, in addition to improving patient safety oversight and regulatory compliance.
Nadolny said the platform promotes “robust clinical trial management from a single, easy-to-use implement, hosted solution” adding that capabilitiesinclude oversight, trial tracking, site monitoring, investigator management and selection, as well as payment management.
Industry forecast
When asked what could be expected from the industry in the next five years, Nadolny said advancements in patient centric technology, which will be critical in successfully developing cost effective medicines.
“We see many examples of technological devices used in academic and clinical trial settings as an exciting trend towards mHealth,” he adds. “It is also important to note that clinical trials generate an increasing volume of data that requires new approaches to data integration and analysis.”
According to Nadolny, drug companies will need to re-engineer their technology platform and corresponding processes to extract the right information to drive real-time decision making.
With the IMPACT Express CTMS, the company is also including a training program and expects pharmaceutical and biopharmaceutical companies to be able to start managing their clinical trials in as little as four weeks.