PHARMACEUTICAL COMPANIES
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THE PROBLEM
The cost of developing drugs has skyrocketed!
THE SOLUTION
Hold down the cost of drug development by substantially increasing the pace of enrolment for clinical trials.
Approximately 1 million Americans - 25 percent of the adult population - volunteer their time to nonprofit organizations. (Independent Sector).
CliniSpan Health’s resource platform for nonprofit organizations can speed trial enrolment by involving the whole community in recruitment as part of a fundraising campaign.
The CliniSpan approach also improves public perception of the Pharma industry since contributions are upcycled back into local communities.
Big Data and AI may ultimately improve trial recruitment but are currently lacking much in the way of validated research:
Rock Health, a large venture fund specializing in health care technology had this insight in a recent editorial:
February 20, 2018
“We’re tired of healthcare cover stories about AI featuring pictures of robots, of debates focusing on semantics, not substance, and of exaggerated claims AI will save—or destroy—healthcare as we know it. We see algorithms being trained on dumb and dirty data, and companies building analytics on retrospective EHR data that should be validated through clinical trials (but they’re not)”
- Recent findings published in the Journal of the American Medical Association (March 13, 2018) found that the US spends double on healthcare as other wealthy countries achieving the same or less quality.
- The time between the Investigational New Drug (IND) application to the FDA and New Drug Application for marketing (NDA) has now climbed to 6.8 years burning up much of the patent life of the drug affecting the R&D bottom line.
- According to a 2014 US Department of Health report, 41% of clinical study start up delays are due to patient recruitment issues. This issue can cost Pharma companies 600k to 8 million for each day of delay.
- A 2017 report by Deloitte’s Center for Health Solutions surveyed 12 large-cap biopharma companies. The report concluded that their R & D returns have declined to 3.2% in 2017 from 10.1% in 2010.