The Big Picture in Safety, Part 4 of 4: Finding the Savings: A Whole-System Approach to Safety

Oct 04, 2016

CostsThe final installment of our four-part series on the importance and opportunities of a Total Safety approach to pharmacovigilance explores total cost of ownership.

Just as compliance demands become more pervasive and product development complications intensify, life sciences companies are under pressure to keep costs flat. Most companies prefer not to cut investment in product development, and with departments already operating with fewer people, staff cuts are difficult to achieve. So where exactly can life sciences companies effect appreciable cost control measures?

One way is through reducing the total cost of ownership of key technology solutions, such as for pharmacovigilance regulatory reporting. Cost cuts can be achieved during both maintenance and upgrade.

Lowering hard drive space demands can provide significant cost benefits, such as through centralized administration – for example having dictionary management by way of a common company drug dictionary or centralized user management. Simplifying submission rule management is another way to lower maintenance costs, which can help to drive faster compliance due to less dependency on IT teams to implement change.

Automating upgrades can help to minimize the risk of human error, while taking advantage of leaner installation quality processes during upgrade. Critically, in a fast-moving pharmacovigilance regulatory reporting environment, automating upgrades can ensure continuous product alignment with changing regulations.

The cost of running multiple disconnected pharmacovigilance solutions and the expense from upgrades – not only in financial outlay but also in lost time – can weigh heavily on life sciences companies. Enabling systems to communicate and enable an end-to-end view of data helps to break down the barriers, remove complexity and improve compliance. A more progressive approach to systems maintenance and upgrades can result in huge time and cost savings, which mean both a better bottom line and more investment in future drug development.

Contact ArisGlobal to learn about the recently launched TotalSafety 7.3, an innovative upgrade featuring technical and usability enhancements to the company’s leanest and fastest integrated suite of safety products.