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Improve Profit Margins in Your CRO
As the amount of work outsourced to CROs continues to grow, the challenges to business development change. Now, it is crucial to offer services that continually add value at a high margin. The old saying, “speculate to accumulate”, may be a cliché, but it’s not entirely inaccurate either. Despite our society’s tendency towards loss aversion, innovation in new technology, expansion, and investment are crucial to building customer bases and therefore increasing profit margins. Throughput also presents an ever-greater obstacle; the more you increase your throughput, the better your profit margins will be.
According to PWC’s 18th Annual Global CEO Survey, 50% of pharmaceutical CEOs are concerned about the speed at which technology is evolving. However, the digital transformation taking place in every industry is still pressing ahead, with fantastic results in terms of revenue. A tremendous 87% of CEOs in the technology field are optimistic about revenue growth in 2015, and 74% think that growth opportunities are more numerous than they were in 2012.
The importance of investing in the latest technology is, therefore, clearer than ever before. Richer data and the margin growth potential it offers is not currently available with standard methods. It is also crucial for testing technology to address the importance of rodent welfare and 3Rs compliance. Equipment that offers all of these attributes is available, and it will have a significant corporate social responsibility benefit for CROs that invest in it; a benefit that will be passed down to their clients.
The ActualHCA system provides 24/7 monitoring of group housed rodents in the real home cage with identity retained. The system enables access to a richness of data not offered by any other current technology. Rodents thrive in group environments, but so far the only option for examining their behaviour has involved placing rodents, alone, in bespoke arenas. This can only offer a limited amount of data, as observation can only take place within designated hours. The only alternatives are complex, costly, and an impediment to throughput.
Actual HCA retains the identity of individual rodent behaviour within group housing, and is so accurate that treatment groups can be combined in the same home cage. Rodent throughput also goes up significantly with this system: the University of Strathclyde has identified that ActualHCA delivers 90% more data using 50% fewer rodents. This product has been developed in consultation with the NC3Rs, which means it greatly improves rodent welfare in studies while simultaneously offering gains in throughput and data richness as well as a reduction in costs.
Clients who use ActualHCA have reported a substantial increase in the number of trials they are able to conduct per year, due to the combination of better data and lowered costs. With this success rate, the system can pay for itself in a matter of months or even weeks.
For more details on ActualHCA, get in touch today.