Health Decisions Launches Advanced Strategic Development Division to Ensure Faster and More Efficient Drug Studies
Evofem Chooses New Group as a Strategic Partner for Substantial Female Contraceptive Study
Health Decisions has created a strategic development division that aligns the interests of pharmaceutical companies, medical device companies, physicians, and patients with a risk sharing model that accelerates clinical development through incentive based performance and fixed price investments.
Evofem, a women's sexual and reproductive health company, recently chose Health Decisions strategic development division for a global female contraceptive study that will involve 60 sites and 2,800 patients. The objective of the trial is to determine the efficacy and safety of Amphora contraceptive gel compared to a known marketed vaginal contraceptive gel.
On average, only 10 percent of traditional clinical research studies enroll on time and go over budget by 30 percent. Traditional CROs that use a time-and-materials-based model have little incentive to complete a study on time and are actually rewarded the longer the study takes, resulting in more revenue for the CRO.
The fixed-price strategy requires no additional costs outside of the initial partnership from the client, regardless of reworks or delays. Health Decisions becomes a business partner and aligns its goals to the client which is getting safer and better products to patients earlier. Incentive plans are designed to accelerate clinical study performance by reducing timelines focusing on getting the studies completed earlier. Unlike the traditional clinical development model, the Health Decisions strategic development model rewards performance that results in products to patients faster.
Health Decisions' new strategic development model creates a sense of urgency to complete the study as efficiently as possible without sacrificing quality to meet the pharmaceutical or medical device companies budget requirements of a fixed-price investment and to be rewarded with incentives for exceeding performance expectations.
Health Decisions designed its new strategy thanks to the results of the Agile Clinical Development approach. Agile Clinical Development takes adaptive research a step further by integrating adaptive design, adaptive operations and Health Decisions' HD360° proprietary technology platform, to target every source of inefficiency in clinical research - from design elements to the day-to-day operational pain points.
About Evofem
Evofem Inc., formerly Instead Inc., advances women's sexual and reproductive health through personal care, disease prevention, contraception and conception products. Evofem is a unique provider of feminine hygiene, in that it doesn't manufacture other consumer products such as diapers, cleaners, and other unrelated products. Evofem is dedicated and passionate about the struggles and issues of all women and work to improve their lives, not only through innovation but through charity and working with other people and organizations with the same mission.
For more information, contact Betsy Carr, Marketing Manager at [email protected].