It is crucial for a clinical research organization to partner with universities and hospitals, and other research institutions to guarantee the success of their Veristat studies. Studies have shown that experts expect partnerships to increase in the coming years. So how do you ensure you get the most out of your partnerships?
Here are some essential tips you can use to ensure that you get the most out of your partnerships:
Set your expectations early
One of the ways that successful CROs like Veristat ensure that they get the most out of their partnerships is to ensure that they define their expectations early in the study. When you have defined expectations, all your partners are aware of what they need to do. Here you should consider developing a standard document with all the types of information you plan to exchange across all the partners, how you plan to share the information and the personnel that will have access to the shared data. It is also essential to define your CRO’s strategic objectives and Map out what the exit strategy will look like once the partnership has concluded. All the information should always be documented, shared, and stored in a secure, centralized system that is easy to access for all the relevant parties.
Leverage your network
Your network will get you the best partners for your research study. To partner with the best, you must reach out to candidates you know. You will also need to create a repository contact list for all the organizations that will help you reach your goals fasters. We recommend having a system that integrates organizational data, contact information, expertise information, and other features, including contracts, so you can easily integrate the CDAs and NDAs without switching between different systems. You can also take advantage of online invention and intellectual property marketplaces to expand your network of experts you can add to your project.
Take control of your budget and standardize your process
Budget complexities are the most significant barriers to successful research partnerships. Having multiple organizations with multiple line items with no central budget tracking system can create a disaster that could potentially stall your study. It is crucial to have a system with a central budget tracking capacity and robust financial support. Your research team should track critical dates, assign costs, monitor progress, and easily report on the status of the budget as it relates to the different stages of the study. While coming up with the different processes that work for your project, it is essential to standardize the process to replicate it for future projects. External partnerships are more common than ever and are here to stay. We recommend you develop a broader research strategy with a centralized implementing system that will make partnering in different opportunities and deals easy.
You must implement research strategies to ensure you get the most out of your research partnerships. It is also essential to set your expectations right from the beginning of your project and have a centralized budget to avoid chaos.