What is TrialValue App for?
It's a tool and platform for planning, estimating costs and developing benchmarked budgets for clinical research projects
What problem does it solve?
It helps teams to start estimating the costs of clinical study design from the concept stage to final protocol. It can help provide budget oversight and ensure money is well spent.
What questions can it help me answer?
How much will this study cost based on key assumptions and different scenarios? How simple or complex is the study? What is a reasonable benchmark budget for the study? etc
How accurate are the benchmark estimates?
For a given set of core assumptions, a variance of ±15% is justifiable for most situations. However, for special cases, (eg, no of patients < 10; site > 2) additional inputs (eg, fixed costs) will need to be taken into account
What are the benefits?
No spreadsheet, easy to use, seamless access to estimates (cloud or mobile), expert guidance, value assured
Where did the source data come from?
It’s based on a deep knowledge of clinical development/research costs, simulations, insights shared by experienced industry professionals and published research.
What methodologies drive the algorithm?
A combination of cost estimation relationship analysis, regression analysis, weighted averages, fixed and variable cost analysis, sensitivity analysis, cost models and a good dose of sanity checks.
Create an estimate - please sign-up to request a Trial Account. Follow these steps:
1. From Home page - Select estimate type button
2. Enter project and estimate titles and assumptions
3. Complete estimate module per protocol/synopsis tasks and procedures
4. Generate cost estimate and summary
Share, revise, compare and complete budget
From Project module - select Project and click on Estimate name. Click on menu options and select the required action
Collaborate with other people (teams, CROs, sites) to develop estimates and budgets
From Request Cost module - select existing or create new a estimate. Send email invitation to site or CRO contact for completion or comments.
Can other methods or sources be used in addition to the app?
Yes, in fact, it's advisable to use at least another approach for comparison eg, obtain quotes, check historical costs if available etc.
Can I compare estimates with bids from CROs?
Yes. It can facilitate bid discussions and cost analysis.