The service provider selection process is a complicated one. Many factors come into play during this process. One critical factor is undoubtedly the presence of preferred provider agreements. Companies can spend a great deal of time negotiating these agreements and their presence, or lack thereof, can make or break which CROs are shortlisted or awarded a Phase I study. Industry Standard Research surveyed 194 respondents from North America, EMEA, and APAC about Phase I provider selection and performance in its Phase I CRO Benchmarking (15th Ed.) report.
Overall, 46% of respondents indicated that their company has formal preferred provider agreements for Phase I services. (Check out the report to see how the proportions change by company size). We asked respondents about service provider attributes in effort to understand what is prioritized in selection.
When asked which attributes were gaining importance when selecting among preferred providers for Phase I services, Access to patient populations, Low cost, and Operational excellence were chosen most frequently. This suggests strong operations and access to the right populations are integral to establishing and maintaining relationships between CROs and sponsors, in addition to affordable cost.
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