Category: Clinical Trials

WHO CAN LOWER YOUR EQUIPMENT COSTS FOR CLINICAL TRIALS?

Clinical trial studies are an essential part of pharmaceutical and biotechnology product development. Governed by strict protocols, these crucial tests ensure the safety of the public while confirming the reliability and effectiveness of manufactured drugs and medical devices. But the necessity of these trials can come at a steep price.

Clinical trial equipment rentals can be a great way to loosen the budgetary constraints felt by most companies when starting their trials, and there are many providers that offer this type of service. However, sourcing a quality provider isn’t always easy. And since the majority of studies are completed in smaller environments with limited human resources, it’s important to work with a partner that can not only lower your equipment rental costs but also offers full-service support while managing the logistics of your trials from start to finish.

So how do you know if you’re getting the value you need from your clinical trial equipment solutions provider? Here are a few things to consider when choosing the right company to work with.

Competitive Equipment Rental Costs

The financial investment to run a clinical trial is significant, so saving on medical equipment and supplies can make a positive impact on your budget allotments. However, while renting or leasing your clinical trial equipment on a regular payment schedule can save you a considerable amount of up-front capital, it’s important to ensure you are maintaining the lowest cost of ownership over time. To do this, it’s important to compare rates across multiple providers ensuring they can meet your short- and long-term financial goals.

Axelerist is a clinical trial equipment leasing specialist that provides cost-effective solutions to organizations managing clinical trials. When compared against other providers in the industry, Axelerist offers the lowest prices available on new and used medical equipment and are experts at creating financially sustainable rental solutions for their clientele.

Healthy Inventory Levels and Procurement Capabilities

Clinical trial equipment suppliers typically only maintain a certain level of inventory on-hand, and this limits the level of service they can provide. Limited stock availability can sometimes force sponsors into having to work with multiple providers for the same clinical trial, or source and procure their own specialized materials. This can be a time-consuming and resource-heavy process and takes away from the financial benefits of getting your trial supplies and equipment from one main supplier.

Axelerist helps companies eliminate these issues by keeping a large portfolio of equipment inventory at our U.S. and European depots. But more than just a provider of in-stock equipment, Axelerist is able to use their strong monetary resources to source any of the specialized equipment and resources you need to make your clinical trial a success. Whether your business needs access to centrifuges, EKG and ECG rentals, incubators, or high-quality cooling equipment turning to an Axelerist lease option is a smart choice for most sponsors.

One thing to keep in mind is many suppliers don’t keep largescale equipment like Ultra-cold Freezers in stock at all times. When selecting a solution, keep that in mind that you may end up waiting weeks or months for a -86° freezer to be manufactured. That’s where Axelerist’s model differs. Axelerist has you covered and keeps a stock at all times of the typical items needed most by sponsors, including -86° Ultra-cold Freezers.

Among other products, Axelerist is a provider of the ULT-25NE Ultra-Low Temperature Shuttle Freezer. For smaller laboratory spaces this Ultra-cold Freezer is a perfect blend of both maneuverability and energy-efficient cold-chain management. The equipment plugs into any outlet and maintains the smallest footprint in its class. And as your clinical trial needs scale, Axelerist gives you the ability to upgrade your smaller equipment for larger applications with quick turnaround times.

Full-Service Support and Fast Lead Times

Regardless of whether you purchase or lease your clinical trial equipment, the costs associated with initial installs, equipment calibration, and collection of materials pre- and post-trial adds up quickly. This doesn’t even consider the expense of having to upgrade equipment over time or transferring to new trial locations. It’s important to note that not all clinical trial suppliers feature the same level of service, and it’s in your best interest to align with one that can actively support your business objectives.

Axelerist is dedicated to caring for all your lab equipment requirements, giving you back the time and resources you need to develop quality pharmaceutical products. They do this by providing the very best rates in clinical trial equipment rentals while including all associated shipping and collection costs. Their service also includes a full-time, dedicated project manager as a single point of contact for clients and an online portal for project details including shipping and tracking details.

Axelerist is a global equipment rental service provider with over 30 years of experience serving the Life Sciences industry. They specialize in clinical trial equipment solutions and maintain a large quantity of on-hand inventory for all of your laboratory needs. If you’re interested in a cost-effective, sustainable way of managing your laboratory equipment needs, contact Axelerist today and speak with one of their industry experts.

Clinical trial delays have become the norm for the vast majority of drug research and development. Across the board, 8 out of 10 trials will face delays and 94 percent of delays are longer than one month.

While even the briefest delay can significantly increase costs, others may impact long-term drug profitability or even result in failure.

To reduce delays, it is important to first understand why they are so persistent and then evaluate and implement proactive solutions.

Common Reasons for Delays Include:

• Unmet or complicated compliance and regulatory standards
• Procedure management gaps
• Inefficient processes
• Communication difficulties

How to Be Proactive and Avoid Delays from the Start

Although it’s impossible to account for all the unexpected challenges of an increasingly complex research environment, there are ways to minimize the odds of clinical trial delay.

One obvious solution is ‘hands-on’ management. By establishing an open and close relationship with each study site, management is able to maintain optimal workflows while minimizing routine administrative challenges. It will become easier to react rapidly before a minor equipment problem turns into a considerable delay.

Having a carefully planned study design in place, well-executed regulatory submission documents should be generated. This will not only keep the trial on schedule but also keep costs down.

Finally, accurate data entry and integration is critical to ensure usability and avoid delays due to otherwise avoidable errors. Personnel responsible for data entry must be provided with sufficient training. Also, monitoring and control mechanisms should be put in place and data entry deadlines carefully tracked.

Meeting Compliance and Regulatory Standards

Another area that can cause otherwise avoidable clinical trial delays is the complexity of meeting compliance and regulatory standards.

Pharmaceutical companies and academic institutions all have particular requirements for reviewing myriad aspects of a clinical trial. Issues arising from meeting these standards can cause considerable delays.

Export compliance applies to everyone, and any organization that sends products, services or technology to foreign countries is subject to export control regulations.

Regardless of what is exported, you need a comprehensive program in place that ensures you’re compliant in all areas to prevent time lost due to export violations holding up delivery.

Furthermore, investigators can be significantly challenged by various state and federal regulatory requirements that can also adversely affect your trial’s timeline.

Communication and Procedure Management

The importance of communication and procedure management in avoiding clinical trial delays cannot be overstated.

Effective communication is not only critical to explain the value of a trial to participants, funders, and other stakeholders, but will also ensure support for your research (and any future studies) in the region where the research is conducted. Avoiding miscommunications can also prevent misinformation causing overreactions that lead to otherwise avoidable delays.

Communications are intimately linked to the conduct of the research and optimally, are addressed in the trial’s protocols and standard operating procedures.

Procedure management itself is another mission-critical component to maintain the trial schedule, remain in compliance, and keep personnel on the same page as the study progresses.

Proactively Reducing Delays Raises Odds of Success

The research landscape grows increasingly difficult to navigate. Managers who proactively confront known challenges reduce the odds of costly delays that could significantly impact both time to market and a medication’s long-term profitability.

A hands-on approach, training, and close monitoring of personnel will help prevent small problems from developing into considerable delays. Established standard operating procedures that include communications guidelines smooth processes and prevent delays due to negative public relations through misunderstanding of key facts about the research.

Compliance and regulatory standards vary between academic institutions, pharmaceutical companies, and government agencies; investigators must meet these challenges head-on. By devoting the necessary resources to researching and meeting standards, delays caused by failing to meet these requirements are avoided.

Outsourcing as a Solution

Preventing clinical trial delay can consume time and resources better dedicated to the trial itself. Axelerist Financial provides project managers who will help you meet documentation and compliance requirements while seamlessly getting the equipment you need, where and when it’s needed.

Outsourcing clinical trial equipment rental offers advantages that can speed up time to market and significantly aid in project management.

The Benefits of Outsourcing Clinical Trial Equipment Rental

A strong argument for clinical trial equipment rental is how much more affordable it can be when compared to the cost of buying. Purchasing equipment is not only expensive but may also make it difficult to see a return on that investment.

The lower costs of equipment rental offer better financial leeway. Instead of a larger upfront cost, renting provides a regular payment schedule that can free up cash flow to be used in other areas. Additionally, accounting for depreciating assets is no longer a problem. You’ll be funding rentals from an operating expenditure budget rather than your capital expenditure budget.

A critical factor in ensuring the success of a clinical trial is sourcing the right equipment. Rather than looking at unit costs for individual pieces of equipment, and dealing with multiple providers, trial equipment rental provides one-stop cost and time-saving services like: