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Related Concept Videos

Clinical Trials: Overview01:11

Clinical Trials: Overview

Clinical development focuses on how the drug will interact with the human body and encompasses four key phases of clinical trials, each serving a specific purpose in assessing the safety and effectiveness of new drugs. These phases overlap and build upon one another. Phase I involves a small group of healthy volunteers (typically 20-80 individuals) or, in cases where significant toxicity is expected, patients with the targeted disease, such as cancer or AIDS. The volunteers are tested for...
Clinical Trials01:16

Clinical Trials

Clinical trials are prospective experimental studies conducted on humans to determine the safety and efficacy of treatments, drugs, diet methods, and medical devices. Using statistics in clinical trials enables researchers to derive reasonable and accurate conclusions from the collected data, allowing them to make wise decisions in uncertain situations. In medical research, statistical methods are crucial for preventing errors and bias.
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Statistical software is pivotal in data analysis and clinical trials by providing tools to analyze data, draw conclusions, and make predictions. These software packages range from simple data management applications to complex analytical platforms, supporting various statistical tests, models, and simulation techniques. Their significance lies in their ability to handle vast amounts of data with precision and efficiency, enabling researchers to validate hypotheses, identify trends, and make...
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Types of Biopharmaceutical Studies: Controlled and Non-Controlled Approaches

Biopharmaceutical studies constitute a vital field aiming to enhance drug delivery methods and refine therapeutic approaches, drawing upon diverse interdisciplinary knowledge. In research methodologies, the choice between controlled and non-controlled studies significantly influences the study's reliability and accuracy.
Non-controlled studies, commonly employed for initial exploration, lack a control group, rendering them susceptible to biases and external influences. In contrast, controlled...
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Health Information Technology and Healthcare Information System

Health Information Technology (HIT)
Health Information Technology, commonly called HIT, integrates advanced information systems and technology in healthcare settings. Its primary functions include:
Decision Making01:20

Decision Making

Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
Automatic decision-making is fast, intuitive, and relies on gut feelings...

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In Silico Clinical Trials for Cardiovascular Disease
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Published on: May 27, 2022

Interactive financial decision support for clinical research trials.

Benjamin Holler1, Dana A Forgione, Clinton E Baisden

  • 1College of Business, University of Texas at San Antonio, USA.

Journal of Health Care Finance
|May 3, 2011
PubMed
Summary

This study introduces a budget decision support tool to help physicians evaluate clinical trial financial viability. The interactive spreadsheet aids in assessing costs and income, preventing potential financial losses.

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Area of Science:

  • Health economics
  • Clinical trial management
  • Decision support systems

Background:

  • Physicians often lack the time or expertise for comprehensive clinical trial budgeting.
  • Existing evaluation methods may overlook potential financial risks associated with research trials.
  • Accurate financial assessment is crucial for the sustainability of clinical research.

Purpose of the Study:

  • To describe a decision support approach for evaluating clinical research trial proposals.
  • To assist physicians in accounting for all trial-related expenses and income.
  • To provide a clear method for assessing the financial feasibility of clinical trials.

Main Methods:

  • Analysis of clinical trial budget templates from various academic institutions.
  • Compilation of a cost databank from hospital and university financial records.
  • Development of an interactive, spreadsheet-based decision support tool.
  • Review of recent clinical trials from a major academic health science center.

Main Results:

  • An interactive spreadsheet tool was developed to manage clinical trial income and costs.
  • The tool facilitates quick data entry and accurate cost-per-subject calculations.
  • It provides clear go/no-go signals to aid physician decision-making.
  • The approach accounts for diverse financial aspects of clinical research.

Conclusions:

  • The developed decision support approach offers a practical solution for clinical trial financial evaluation.
  • It empowers physicians to make informed decisions regarding research trial proposals.
  • This tool can enhance the financial oversight and success rate of clinical research endeavors.