Strategikon Pharma announced a global update to the Clinical Maestro outsourcing platform, expanding functionality for sponsors to create budgets and planning scenarios, including:
“Working closely with clients to rapidly address their outsourcing and budgeting process pain points, I’m pleased that we continue to release additional functionality at a swift pace,” said Anca Copaescu, CEO of Strategikon Pharma.
Biopharmaceutical sponsors have several options for budget or scenario development with Clinical Maestro. They can utilize the built-in industry standards rates, which affords them upwards of 95% accuracy. They can use their own rate cards or historical data. Now they can also use the rate card of their preferred provider to model scenarios. Using a preferred provider rate card enables sponsors to see costs based on a provider’s proposed rates and compare that to Clinical Maestro’s estimate. This enables sponsors to easily compare alternatives and manage provider decisions with data-based information.
Clinical Maestro’s database already supports over 800 standardized tasks, however, sponsors also need to create customized tasks for specific trials. Clinical Maestro provides flexibility for unique tasks, either in the task library or directly within scenarios and accurately tracks the task cost and performance.
Clinical Maestro now takes multi-currency capability to a whole new level. Sponsors can specify the currency for their budget or scenario which will also be reflected in the associated rate card. Alternatively, if allowed by the Sponsor, bids from providers can be submitted in a different currency than the one specified by the Sponsor. Most importantly, sponsors will still be able to seamlessly compare RFP bids submitted in different currencies, by automatically applying stored FX conversions.