A balanced scorecard is the spot of KPIs (key performance indicators) which includes the EQTCS (enrollment, quality, timelines and customer service) that are the demand of the site’s customers. The balance scorecard is the balancing point of health of research site with servicing the needs of customer. These EQTCS should be included in the scorecards of all the sites.
Desire of client:
Organizations as the customer or clients of the sites want them to:
1. Move rapidly in order to run their study trials appropriately.
2. Sites to be able to make rapid decisions of feasibility questionnaire.
3. Rapid study startups.
4. Quick patient enrollment for the study.
5. Quick query resolution.
6. Rapid database lock.
7. Responsive evrytime.
Clients want their site to be responsive because they want to know if they have found the cure to a disease and as soon as they came to know that they are close to conclusions, they file their copyrights for that cure that is for lifetime. The data or medications came into existence from trials take too long to get through R&D pipelines. It takes fifteen to twenty years to complete a research and then submitting the data to FDA for approval that also reduces the patent life. This makes the drugs costly because sponsors have made huge investments for all the years before the drugs get to the market and start making profit.
Proceed faster to reduce cost:
Sponsor organizations care about the timelines and want their sites to proceed faster that enhance the patent life that also reduces the cost for the drugs in the market. Drugs prices can be reduced by doing R&Ds at faster rates to reduce timelines that will allow certain aspects as:
1. Serving customer better.
2. Speeding innovation.
3. Faster supply of the drugs to the worthy patients.
4. Reduced cost of drug in the market.
Perks for cheap drugs:
Sponsors also want to come in the market with their drugs at cheaper price that will allow more physicians to write for that drug to their patients, more drug utilization, more insurance companies will allow for that drug on formulary. There is also a disadvantage for high price as expensive drugs is that it gets less utilization in healthcare.
To move faster:
Things that can help to move faster are as follows:
1. By excluding the unnecessary waste of time in study start-ups.
2. Don’t graph the time it takes to do study startups.
3. Graph the time that will take to perform actual study activities.
Eliminating number of days from the period of contract and budget negotiation.