Many companies operating in the medical and pharmaceutical industries can benefit from the services provided by full service clinical research organizations. However, companies need to do their research to understand how they can benefit from these services.
The following are four things you should know if you're interested in contracting with a clinical research organization at your company:
A full service clinical research organization carries out clinical trials or other types of medical research for companies wanting to outsource these tasks.
Clinical research organizations give pharmaceutical companies the opportunity to outsource a lot of the leg work of developing new drugs and getting them approved for market. These companies will typically handle clinical trials.
Although the clinical research organization handles the trial functions, the company that hires them is responsible for ensuring the reliability of trial data and supporting the trial with sound science.
Working with clinical research organizations makes it possible to take advantage of the organization's expertise without the need to hire new full-time personnel.
Increasingly, more pharmaceutical and medical companies are seeing the value of outsourcing trial functions. When a clinical research organization is hired, companies can streamline their staff and don't need to hire on expertise to handle their own trial- and regulatory-approval tasks.
You can pick from among a long list of possible services your clinical research organization offers.
There are many different types of research and development services that clinical research organizations can handle. For example, they can handle database design, data entry, project management, data management, and medicine coding. They can also offer their expertise to handle validation programming and safety summaries.
If your company is going to work with a clinical research organization, you should pinpoint the exact services you need. Clinical research organizations typically custom design a service plan based on the individual needs of the companies that hire them.
Clinical research organizations can make it more affordable for pharmaceutical companies to develop new drugs.
In the past, developing a new drug was sometimes too expensive for companies to pursue because of approval requirements.
Before clinical research organizations became available to handle a lot of the development tasks, pharmaceutical companies generally only pursued drugs that they were almost entirely sure they would achieve large market approval for.
Clinical research organizations have benefited both pharmaceutical companies and consumers by making it easier for niche market drugs to get attention and be developed