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According to Professor Harold E. Glass, Ph.D. (Research Professor and TTC Principal), clinical trials are the largest single area of R&D operating expenses, and clinical investigator grants represent the bulk of these costs. With the pharmaceutical industry facing major and growing costs for developing new drugs, cost controls represent an effective way to rein in costs while providing effective treatment. Avoiding double payments for activities that would be normally covered by third party payers, including Medicare and Medicaid in the US, as part of the standard care that any patient would receive at a clinical research site, makes good economic sense. TTC’s Standard of Care helps sites control costs with accessible standard of care data.
TTC’s Standard of Care data includes smaller procedures outside oncology: TTC’s analysis of US Phase I and III clinical studies, outside of oncology, shows that 22% of clinical trial procedures paid for by pharmaceutical companies would be covered by public and commercial third party payers as part of their standard of care treatment (SOC) for these patients. TTC’s Standard of Care product saves money across all procedures, not just oncology.
All therapeutic areas can benefit from TTC’s Standard of Care: Many pharmaceutical and biotech companies routinely include SOC payment considerations in their clinical grant payment agreements with sites conducting oncology studies. SOC has a broad acceptance in oncology, but TTC’s SOC data can help all therapeutic areas.
TTC’s Standard of Care aims to save valuable clinical funds: TTC’s Standard of Care provides a ready data source for US clinical sites, and can even be used where SOC data has not already been used to design a clinical grant.
TTC’s Standard of Care responds to a global concern for additional SOC information: Many clinical sites that incorporate SOC considerations into developing clinical grants think they need more information. While those working in oncology are more comfortable with the SOC information they receive, even in oncology one in four participants see the need for more information.
One-stop shopping: TTC’s Standard of Care enables users to identify which of the protocol’s visits and procedures are covered by standard of care—with data based on actual payments to physicians.