Here’s how business analytics can optimize clinical trials
A panel of Pharma industry leaders like GlaxoSmithKline, Bristol-Myers-Squibb, AstraZeneca, Sanofi, Eli Lilly, Pfizer and Shire talked about the importance of Clinical Trials Optimization for 2 days at the recently concluded conference in Philadelphia clearly showing the importance of this topic in the present times of economic hardships and FDA’s pressure to lower healthcare costs. Pharma companies spend millions of dollars on research and probably even more on these clinical trials to ensure safety and efficacy of the drugs. Developing the right protocols, selecting the proper sites, setting the right expectations with all stakeholders, developing and tracking the right metrics and effective communication is the key to optimizing the resources and cost of clinical trials.