Dear Fellow C-Levels,
Hope this note finds you well. Please excuse my absence
during our final decision meeting. I would like to take this opportunity to
provide you with my final recommendation on the issue at stake. As our current
paper based process is inefficient and outdated, we need to implement an
effective and sustainable solution that will allow for better management of our
trials.
As you are aware, my initial recommendation pertaining to
reducing time to data lock was to implement the Web-enabled EDC system on all
of our trials. After the consultant’s presentation I am even more convinced
that this is the only viable option that will address our problem and provide a
sustainable solution. Opting for improvements to our paper based process, even
with implementation of the digital image processing, will only address the
symptoms of our problem and provide little improvement. It may also prove to be
costly with additional resources spent on scanning, storage and/or expedited
shipments of trial materials. The consulting team cited some interesting cost
savings associated with the Web-enabled EDC System, such as $872 thousand per
drug saved from reduced data entry, additional $4 million per drug saves from
reduced CRA visits, and let’s not forget, the $84 million per drug in increased
sales due to decreased time to data log.
It is our duty and objective to maximize returns to our
shareholders, cultivate the relationships and cooperative environment with the
key players in the process as well as ensure integrity and security of patient
data. Further delay in implementing the Web-based EDC system not only put these
goals in jeopardy but also position our company in competitive disadvantage. As
our business needs and circumstances and technology change, we need to change
with them. In the face of global economic volatility and dwindling consumer
confidence, we need to act on our commitment to innovation, driving long-term
business growth. The benefits of implementing the Web-based EDC system will not
only improve our bottom line but also allow us to introduce our drugs to the
market, to our consumers that await the treatments and benefits we promised to
offer.
Without much ado, let’s vote for innovation!
Best regards,
MKO
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