Critical Financial Challenges for Biobanking: Report of a National Cancer Institute Study

Area of Science:

• Biobanking
• Biorepository Management
• Biospecimen Science

Background:

• Many biobanks lack a clear understanding of operational costs and financial challenges.
• The National Cancer Institute's Biorepositories and Biospecimen Research Branch (BBRB) initiated a survey to assess biobank financial sustainability.
• Interviews and focus groups informed the survey's design.

Purpose of the Study:

• To investigate the financial challenges faced by biobanks in supporting ongoing operations.
• To understand the relationship between staffing, strategic planning, and financial sustainability.
• To gather data from U.S. and international biobanks.

Main Methods:

• A survey was administered to U.S. and international biobanks.
• The survey covered demographics, operations, funding, costs, and financial challenges.
• Staffing and strategic planning were explored in relation to financial sustainability.

Main Results:

• Biobanks predominantly rely on public funding and often lack long-term collection stewardship plans.
• Staffing levels are critical, with limited capacity for further reductions.
• Smaller biobanks require assistance in establishing cost-recovery user fees for biospecimens and services.

Conclusions:

• Survey findings underscore critical issues for long-term biobank sustainability.
• Effective biobanking is essential for advancing precision medicine.
• Proactive planning is necessary to address financial and operational challenges.