Top 10 Bio Tech Startup: Strategikon Pharma Driving Operational Excellence

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Strategikon Pharma Driving Operational Excellence Through One-Stop Clinical Trial Managemen

For years healthcare has heavily depended on randomized clinical trials as the yardstick to evaluate a novel drug, new therapies, vaccines, or a medical device. But despite its significance in advancing medical care, clinical trials have always been a chaotic state of affairs. Whenever biopharma companies set out to plan budgets, select vendors, or manage contracts for outsourcing a clinical trial project to a certain CRO, the whole process is riddled with a lot of mishandlings, mismanagements, and of course, guesswork.

The primary reason being all the crucial stages of a clinical trial are still tracked through notes jotted down on the backsides of envelopes, Excel spreadsheets, and emails running back and forth between multiple stakeholders. Most importantly, the request for proposal (RFP), through which pharma companies gain crucial insights on the budget that is instrumental in outsourcing the clinical trial to a preferable CRO -is heavily reliant on legacy tools. And quite expectedly, those tools are unable to provide quality oversight of the clinical trial-keeping biopharma companies in the dark regarding the actual budget, change orders of the project, and performance of the CRO.

Strategikon Pharma has now changed the picture.

The California-based leading-edge pharma-tech company has become the long-awaited guiding light for pharma companies to help them efficiently budget, source, forecast, and manage the business aspects of clinical trial projects.

The Magic of All in One

With its SaaS business platform-Clinical Maestro™™, Strategikon Pharma helps biotech startups and biopharma organizations coalesce all the key processes for planning a clinical study. As an upshot of this integrated approach, the platform turns clinical trial budgeting, sourcing, and outsourcing management into one seamless experience. Clinical Maestro acts as a one-stop shop through which pharma companies can prepare RFPs for the entire clinical trial and select their desired CRO by comparing the responses across different CROs to effectively manage the budget for a clinical trial. "Clinical Maestro brings operational excellence into the entire process of clinical trial outsourcing process, eliminating the need for Excel- based financial modeling skills, or other file storage and sharing solutions," says Radhika Sivaramakrishna, Head of Project Delivery at Strategikon Pharma.

By bringing operational excellence into the entire process of clinical trial outsourcing, Clinical Maestro eliminates the need for Excel-based financial modeling skills, or other file storage and sharing solutions

Clinical Maestro, while bringing a new level of precision and speed to outsourced clinical trial operations, comes with a few groundbreaking characteristics. First, Clinical Maestro provides benchmark costs for over 800 standardized tasks, timelines & billing rates across 70 roles and 80 countries to speed budget creation and give you confidence in your numbers. Additionally, Biopharma companies use its scenario modeling features to run simulations through predictive models that give a better understanding of their clinical trial budget options. Customers can very easily add and subtract countries along with other protocol amendments and build predictive models under multiple different scenarios. For example, companies can compare the cost of carrying out a clinical trial outsourcing operation in the US to that of South Korea and accordingly make the best decision from a time and budget perspective to conduct their clinical trial.

The White-Glove Partner

However, in addition to their cutting- edge functionalities, Strategikon Pharma's strongest pillar of success is its high-touch model for onboarding clients. The clients undergo very intensive training right from the beginning using a real-life case study. Thereafter, the experts at Strategikon guide them and offer insights on testing different scenarios while the customers themselves build the study. These trainings are recorded so that clients can refer to it later while training others in the company. In addition, Strategikon views training not as a one-time event/effort, but as a continual journey along with the client, where the client is provided just- in-time refreshers as and when they need it, as well as training can be customized across multiple sessions to ensure better retention. In addition, client questions/ concerns are addressed immediately to ensure that the tool usage experience is as smooth as possible.

For an organization that is carving out an entirely new path for outsourcing clinical trial operations, it is a no-brainer that Strategikon Pharma has added a host of biotech startups and eminent biopharma organizations to their clientele. Radhika recalls a success story when one of their clients, with the help of a single training session, could create different RFPs that were distributed to various vendors. "It was so easy for clients to compare the budgets proposed by different CROs, that they could also delve into granularities of every project detail and pinpoint the differences between the project specifications and cost proposed by each and every CRO," extols Radhika.

Powered by an ambition to revamp the clinical trial outsourcing landscape by leaps and bounds, Strategikon Pharma is continuously evolving its platform by incorporating constructive feedback from clients. They are also building a user forum where customers can share their opinion and inputs on further advancing its capabilities.

"We are on-track to redefine the transactional space between pharma companies and CROs with a host of exciting, upcoming releases in the near future," concludes Radhika.