What You Should Know:
– Medidata, a Dassault Systèmes brand and a leading provider of clinical trial solutions, today announced the integration of data from the UK interactive Costing Tool (iCT) into its Grants Manager platform.
– The collaboration with the National Institute for Health and Care Research (NIHR) provides life sciences organizations with a streamlined and standardized approach to clinical trial budgeting, enhancing efficiency and transparency in research funding.
Partnership with NIHR Enhances Efficiency and Transparency in Research Funding
The iCT, hosted by the NIHR, provides a centralized resource for costing clinical research in the UK. By integrating this data into Grants Manager, Medidata enables researchers and sponsors to:
- Access consistent cost data: Utilize standardized cost information for various aspects of clinical trials, ensuring accuracy and consistency in budget development.
- Simplify budget creation: Automate the process of generating budgets, reducing manual effort and improving efficiency.
- Enhance transparency: Promote transparency in research funding by providing clear and consistent cost information to all stakeholders.
Collaboration with NIHR
Medidata has worked closely with the NIHR to ensure the seamless integration of iCT data into Grants Manager. The company’s active participation in the National Contract Value Review Advisory Board and UK Commercial Costing Reference Group further demonstrates its commitment to advancing best practices in clinical trial budgeting.
“The ability for clinical trial teams to efficiently develop grant budgets and administer site negotiations is a crucial function of a trial,” said Meghan Harrington, vice president, clinical financial management, Medidata. “Incorporating the UK iCT into Grants Manager streamlines the study start up process and improves budget precision by up to 80%.”
The UK approach for commercial study costing and contracting relies on a standardized budget template with specific codes and costs to ensure efficient budget preparation. The manual transfer of data from the UK iCT system into budgeting applications creates inefficiencies, including delays and duplication of efforts that increase the risk of errors. Integrating UK iCT data directly into Grants Manager overcomes these challenges by eliminating the need for manual data entry, significantly reducing preparation time and supporting data consistency across platforms.
