Many research clinic owners have ambitions of building large research centers. While that is a perfectly noble ambition, you must start out small and lay the foundation brick by brick. In this video I discuss how clinical trial site owners can start off small and scale their way up.
One of the largest growing segments of clinical research site owners are CRA's. In this video I answer a viewer's question on how they can start not only a clinical research site, but a Site Management Organization (SMO).
Site Management Organizations (SMO's) evolved over the past several decades from small research sites to nationwide research networks. Unfortunately many developed bad reputations and Sponsors as well as CRO's have shied away from using the, This video explains why, and I also get into some other topics such as how to obtain studies for your company and more. Enjoy!
It is natural for companies to want to expand. I believe that we as entrepreneurs are always looking for ways to increase our market share. Unfortunately, too many research clinics try to grow too big too quickly, and we end up with failed companies. I have countless viewers that email me that they would like to launch their own Site Management Organization (SMO). Not only do SMO's have bad reputations, it is my personal opinion that you should start off with one clinic and only expand when you have to, or when the market dictates. In this video I answer a viewer question in regards to their site expanding out of necessity-they simply ran out of real estate in their existing office. I go through some of the challenges, and explain how to perhaps make the process a bit easier. Let me know your thoughts.
I was fortunate enough to have one of the industry's most innovative CEO's, Ibs Mahmood from Drug Dev come on the show and share his insights in regards to what is happening in the clinical research industry. We especially dive into issues such as clinical trial site payments, how risk based monitoring is affecting research clinics, and also how big data is allowing for transparent and clear site metrics to be tracked and shared by and amongst sponsors and CRO's.
In this video that was shot right before the Holidays in 2015, I go in depth on numerous clinical trial issues pertaining to research sites, clinical research organizations (CRO's), and site management organizations (SMO's). Budgets and contracts are discussed as well as potential clinical research company profit margins. I also delve into the ever popular topic of Principal Investigator experience, and how savvy Investigators can establish their research practice.