In a previous post we tackled the question What is Clinical Trial Intelligence? It’s a broad topic because CTI systems look at a massive volume of data, and therefore have a countless number of applications. One piece of that article describes the ideal user for a CTI system, and why they may use the tool. We’d like to take that idea further, and describe exactly how a professional in the clinical trial ecosystem could use CTI to:
- Drive revenue growth by finding and winning new business targets faster
- Improve quality of clinical development planning by better understanding market landscape
- Identify optimum locations for patient enrollment
Grow Revenue by Winning Business Faster
Let’s say you’re a business development representative at a CRO that specializes in Phase 3 and 4 Oncology trials. You’re charged with finding new business targets for your company, and you need a starting point. Instead of finding lists of thousands of sponsors and then finding contact information, which can take days or weeks, you’re better off identifying a few hundred sponsors that will be the most receptive to hearing more about your team’s services.
Using a tool like TrialFinder, BrackenData’s visual CTI dashboard, you could, in four clicks, pull up a list of sponsors that have produced phase 1 or 2 trials in the last year in the field of oncology. This list includes the names of trials, links to more data on these trials, and contact information for their program managers. In another click you could export this list to excel and share with your team or upload to your CRM.
In this example you have taken a few seconds to produce a list of new business targets that are in your company’s sweet spot. These sponsors are likely still planning the Phase 3 and 4 pieces of their trials, and would be receptive to your outreach. You also have more information in front of you to use during outreach such as the title of the trial, when it started, where it’s recruiting, and so on. Sounding informed in your outreach will build credibility with the prospect, and expedite their evaluation of your services. Instead of taking a week or more to build a list of possible sales accounts, and spending more time researching on these accounts, a CTI system has enabled you to start outreach within a few minutes. You’ve improved your credibility when having a conversation with these prospects, and you’ve dramatically improved your time to realizing revenue from when you started this business development process.
Improve Planning Quality
In this example, let’s pretend you’re a medical affairs executive. You’re starting the protocol development process for a compound that has just made it out of pre-clinical phases. You’d like to know if there are competing products currently in development, who the sponsors are, and where their trial sites are.
Using a CTI system you could filter clinical trial activity by therapeutic area, conditions treated, or even route of administration for the drug. In this example, you may also want to filter out academic sponsors and activity from non-interventional trials. After a few clicks and typing in your target condition, a tool like TrialFinder can produce a list of trials and sponsors for you. On a world map it will show you where the sites are for these trials, and where the sponsors are located. There is also a link to more data about each trial.
Without a CTI system, the process of attaining all this information would take a team hours. You could look through trial records in online registries one-by-one and skip over trials that seem irrelevant to your search. Even then, you may not be confident enough that you’ve found everything that may affect the recruitment or commercial success of your new drug. In this case a CTI system has saved you hours of work and produced a more thorough (and visual) result than previously possible.
Inform Sensitive Operations Decisions
In our final example, you’re a clinical program director. You’ve been tasked with planning and executing operations for trials of a drug to treat hypovolemia.
In this role, the time and cost sensitivity of your decision making is the difference of millions of dollars spent on development. You need to be confident about setting up recruiting centers where patient enrollment will be most successful, and you need to make decisions on the issue soon so you can tackle the myriad other operational decisions on your plate. In this case, it’s worth spending a few thousand dollars on a CTI system to save time, and provide statistical confidence.
One way a CTI system would accomplish this for you is by providing competitive intelligence. This is similar to the medical affairs example we walked through above. You want to answer questions like what products currently in development are treating similar conditions? Who are the sponsors? Where are they recruiting? What are their anticipated enrollment numbers?
Another angle to understanding the market landscape is comparing the enrollment of a broader set of trials pertaining to your therapeutic by phase and trial site location.
Using a tool like Sunshine Analytics, which looks at payments made from sponsors to physicians, you can indicate the operational cost of a trial by product and region. As an example, let’s look at the development of Albutein in 2015. There are $3.8 million in payments on file sent to 207 institutions. The average payment per physician/institution is $18,676 and the cost per physician in California is almost twice that in Pennsylvania. You’ll want to compare the success of the trials that made these payments, and drill down into those that treated hypovolemia. Combined with information about patient populations, you now have the tools in front of you to make informed cost/benefit analysis about trial site locations.
Of course, all three of the above scenarios are much more involved than what we contain in a few paragraphs. But the examples go to show that from winning research contracts to analyzing trial site locations, CTI systems serve applications across the clinical trial industry.
If you’d like to learn more about BrackenData’s CTI tools, read through our website, or use the button below to sign up for a personal demonstration.