Digitalization of Clinical Trials – The Benefits
Clinical tr ials 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 t o 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 – ...