Neuroute - Fix Costs to Save Time
Currently costs in the industry are structured as per output, product or project to maximize on revenue rather than value.
Broken costing systems make processes inefficient
Studies estimate that it now costs somewhere between $161 million and $2 billion to bring a new drug to market (Wong & Jessop, 2014). Although other industries follow Moore's Law, for example computers: $95,000 in 1972 vs $1-3000 in 2024, there has been an opposite effect in clinical development with spending expected to reach $68.9 billion a year by 2025.
Applying Moore's law to clinical development
There are a myriad of reasons for why costs in clinical development have risen so steeply but most can be boiled down into incentive alignment. It is critical to understand that CROs and service providers are negatively incentivised to accelerate your clinical development, thereby lowering their revenue per client. This means that, ultimately, the cost per clinical trial increases for sponsors with each consecutive clinical trial.
How can we fix this? Well let's look at how it was done for computers, and how we can repeat history for clinical development:
Integration of Components: early computers required separate parts for processing, memory, input/output operations, and storage; connecting site operations, historical studies, programs and opportunities together will enable us to form a more efficient unit.
Economies of Scale: computer manufacturers were able to reduce cost per unit by spreading costs in design and development over a larger number of units; connecting design and development across studies will reduce cost per clinical trial.
Reduce Administrative Burden: automated assembly lines and precision machinery increased the efficiency of computer production; automation and precision will lead to faster clinical development times and lower administrative costs.
Competition and Innovation: competition drives innovation, leading to more efficient designs and the development of new technologies that can be produced at a lower cost.
Our guarantee to you
One standard price across your entire team and pipeline at a fraction of the cost of 1 single output from players like Citeline, allowing you to connect the dots between your existing pipeline, the landscape, sites and new opportunities.