Clinical Trial Forecasting Managing the Challenges and Avoiding the Fines

Speakers:
- Jay Trepanier, Senior VP and General Manager, Bioclinica Financial Lifecycle Solutions
- James Sacchetta, Manager, Technical Operations, Premier Research

With globalization, large numbers of sites, recent regulatory requirements and an increasing number of CROs and vendors, clinical trials are constantly becoming more complex. Given that clinical trial costs are one of the biggest expense categories for biopharmaceutical companies—the average cost of bringing a drug to market in the US is estimated to be $1.3-1.7 billion—it’s critical that CROs and Sponsors forecast accurately.

However, manual processes have made forecasting of clinical trials challenging, leading to difficulties in reforecasting and cash management (and as a result, difficulties in maintaining site satisfaction) as well as hefty fines.

Viewers will learn more about:
- The consequences of poor forecasting
- The difficulties of reforecasting with manual systems
- The complexities that make forecasting so challenging
- How technology that is purpose-built for clinical trials can help CROs and Sponsors forecast more effectively and accurately