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Monday, January 23, 2017

SimuLyve® Saves Research Dollars

A Case Study

After spending 10's of millions of dollars every year on face-to-face physical Investigator
Meetings, a pharmaceutical client of ours said enough is enough. They heard every reason why the investigator meeting "had to be" face-to-face:  rapport, hands-on training, too complicated, etc. The reality though was that today's barebones yet expensive face-to-face investigator meetings weren't creating any rapport at all.  "Hands on" training could actually easily be trained online through video (just as we train in surgery).  And research showed that complex studies are actually better understood on-demand since the attendee then has the ability to self-study over a longer period of time in the privacy of their clinic, just as they study the protocol.

So we went to work implementing SimuLyve company wide. First we created SimuLyve video presentations of all standardized non study specific trainings (GCP, SAE,etc.). Those were put up in the cloud and then eliminated from every investigator meeting.  This reduced the length of the investigator meetings by 50%.Then we looked at all of the meetings and "triaged" them, determining which should be just face-to-face (10%) which should be hybrid (15%) and which should be virtual SimuLyve (75%).  Because we supply the AV, the virtual SimuLyve meetings and the face-to-face meeting planning all in-house, we were able to achieve impressive economies of scale.  Instead of 3 companies producing each meeting (logistic company, virtual company and AV company) which increased cost and confusion, our client was able to turn to one source, MBM Productions International and our SimuLyve Network. This reduced cost and increased clarity of execution.

Net Savings:  Meeting cost was reduced by 75%, leaving millions of dollars a year that could be better spent on research, rather than funding the travel, dinners and drinks of attendees.

It's Not Webcasting, It's SimuLyve®

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