Majority of Pharmaceutical Companies Report Using Standardized Key Performance Indicator Metrics

Monthly Archives: September 2016

Majority of Pharmaceutical Companies Report Using Standardized Key Performance Indicator Metrics

Friday, September 30, 2016

A newly released report shows that 66% of drug development companies are using or plan to use a standard set of Corporate KPIs to measure clinical development performance and evaluate service provider success. This level of adoption is far higher than expected. The most commonly used functional area metrics pertain to Study Operations, Data Management, Quality Management and Internal Processes.

“Research sponsors are under intensifying pressure to run increasingly complex clinical trials with limited resources. Senior leadership is highly motivated to use KPI results to drive process improvement”, said Linda Sullivan co-founder and president at the industry group Metric Champion Consortium, author of the new report. “While advances in technological solutions have improved the ability to track and analyze performance metrics, which KPIs are most predictive of outcomes and how organizations should utilize these results to improve efficiency are topics requiring further exploration.”

Other findings reported in the new MCC KPI Practices Survey Report, include:

  • 73% of respondents review KPIs on at least on a quarterly basis
  • At least half of respondents use/plan to use 14 of the 40 KPIs listed
  • The top three most used KPIs cited by survey respondents:
    • Data management KPI % final databases locked on time
    • Quality management KPI mean number of protocol amendments after protocol approval, and
    • Study operations KPI % studies completing enrollment on time.
  • Nearly half of respondents use end-of-year KPI results to establish annual goals within the organization.
  • 55% of respondents establish performance improvement plans based on KPI results

More information about the report is available at MCC Survey Reports. To view the press release in a PDF format, click here.

About the Metrics Champion Consortium

MCC—a trusted partner in the clinical trials industry—identifies what to measure, how to assess the critical components of what is changing and how the industry is responding to address the changes to make improvements. MCC continually brings you new insights into the leading trends within the industry.

For more information about MCC publications, metric sets & tools, metric education programs and how you can participate in future surveys and MCC work groups, please visit http://www.metricschampion.org

Contacts:
Metrics Champion Consortium
Linda B. Sullivan
317.622.0266 ext 102
Lsullivan@metricschampion.org

MCC Unveils New Metrics eLearning Program Aimed to Improve Metric Knowledge of Sponsors, Service Providers and Investigators

Metric Champion Consortium (MCC) has launched a series of one-hour eLearning courses to help clinical trial professionals build foundational metric knowledge — knowledge essential for using performance metrics effectively. MCC courses build proficiency in metric basics like: identifying which metrics best fit your organization, department or study team’s needs, applying metrics for effective tracking, and selecting the right charts to interpret and communicate metric results successfully. Role-based eLearning training scenarios embedded in each course allow learners to customize their experience by giving them the option to view Data Management, Study Oversight, Site Monitoring, and Investigator/Site Coordinator examples of key concepts described in the courses.

Additionally, MCC provides learners with a unique opportunity to work with a MCC advisor to reinforce their learning experience through the completion of a MCC Metric Master Certification Independent Project. Upon successful completion of the eLearning courses, learners can opt to complete an independent project to demonstrate an understanding of course concepts by applying them to a real situation.

Learn more

MCC Launching Study Quality Trailblazer Group on October 14

Friday, September 16, 2016

The Metrics Champion Consortium is leading an initiative for change. Despite the advancements that technology has provided to clinical research over the past 20 years, our industry is taking longer and spending more money to complete projects, often because of issues that are preventable. We continue to be timeline driven. We do whatever it takes to start studies on time; often adding time and costs to our projects because of protocol amendments and other forms of “rework”. We hurry, so we can wait and it doesn’t make sense.

We are looking for MCC member organizations interested in working with other members to set an example for the rest of the industry by demonstrating that investing time and resources up front can yield higher quality clinical study performance at a lower cost than fixing quality issues during the study. Members of the MCC Study Quality Trailblazer Team will focus on establishing and implementing performance metrics and procedures in their organizations that produce high quality protocols, that better identify and reduce risks before the start of a study, and that better oversee risks during the study.

To learn more about this initiative, please visit the MCC Study Quality Trailblazer Team work group page.

MCC Launching Study Quality Trailblazer Group on October 14

Wednesday, September 14, 2016

The Metrics Champion Consortium is leading an initiative for change. Despite the advancements that technology has provided to clinical research over the past 20 years, our industry is taking longer and spending more money to complete projects, often because of issues that are preventable. We continue to be timeline driven. We do whatever it takes to start studies on time; often adding time and costs to our projects because of protocol amendments and other forms of “rework”. We hurry, so we can wait and it doesn’t make sense.

We are looking for MCC member organizations interested in working with other members to set an example for the rest of the industry by demonstrating that investing time and resources up front can yield higher quality clinical study performance at a lower cost than fixing quality issues during the study. Members of the MCC Study Quality Trailblazer Team will focus on establishing and implementing performance metrics and procedures in their organizations that produce high quality protocols, that better identify and reduce risks before the start of a study, and that better oversee risks during the study.

To learn more about this initiative, please visit the MCC Study Quality Trailblazer Team work group page.

Standardized Metrics for Better Risk Management

Friday, September 9, 2016

MCC Co-Founder/President Linda Sullivan’s new article “Standardized Metrics for Better Risk Management: The Right Data at the Right Time” posted on Applied Clinical Trials calls for the adoption of standardized cost and quality performance metrics to track and predict performance. View at http://bit.ly/2cpNvNw