Quintiles ($Q) has rewired its risk-based monitoring service to include analytics technology the CRO says can better predict pressure points in clinical trials, touting its new offering as the first of its kind.
Risk-based monitoring, or RBM, is the process of focusing study resources on the trial sites most likely to pose risks to its overall success, managing time and effort in the monitoring process.
Quintiles has integrated its predictive analytics capabilities into its RBM offering, creating a model-based technology that taps the CRO's years of trial results to identify warning signs before they can derail a study, the company said. As the world's largest contract researcher, Quintiles has amassed huge swaths of data, and its new RBM service is the only one on the market that puts such institutional knowledge to use in identifying risks, according to the company.
"The ultimate goal of risk-based monitoring is to increase the efficiency of drug development while improving quality and patient safety," Quintiles Senior Vice President Margaret Keegan said in a statement. "The ability to cut through all the noise and predict potential risks before they occur means we can target the right action at the right place at the right time."
Quintiles bills itself as the market leader in RBM, currently employing its technology in more than 130 studies across roughly 26,000 sites.
Meanwhile, Quintiles is shooting for between 7% and 8% annual revenue growth in 2015, expecting about $4.5 billion in sales on the year. The CRO dialed back its projections last quarter to account for a strong dollar and an unforeseen jump in cancelations, but the company is counting on its sizable backlog to balance things out as the year goes on.
- read the statement