Effective Management of Your Clinical Trial Budget

Clinical Trial Services

Effective management of your clinical trial budget is critical when trying to meet your study timelines. Successfully executing a clinical trial is a large undertaking that requires strategic planning and cooperation. Even if you have appropriate staff, it is often necessary to hire a contract research organization (CRO) to help share the workload. A CRO is a company that provides clinical trial services for the pharmaceutical, biotechnology, and medical device industries. There are different types of CROs, but typical CRO services in the medical device industry include regulatory affairs, clinical trial planning, site selection and initiation (including contracting and budgeting), patient recruitment support, clinical monitoring, data management, trial logistics, biostatistics, medical writing, and project management. CROs have the knowledge, capabilities, processes and procedures that are needed to develop and run a successful clinical trial, while ensuring trial quality and compliance with national and international standards. Working with a CRO can provide access to innovative tools that can increase efficiencies, leading to shorter timelines and decreased cost.