Pricing Norms for EDC Solutions: Ripe for Change
Today, EDC solutions can take many forms. Just as different solutions offer different levels of functionality, there’s also variation in how an EDC tool can be priced. There are, however, certain pricing patterns that tend to emerge:
- Big companies with price tags to match – Many EDC solutions are, quite simply, unaffordable. These tend to be big companies targeting big studies with big budgets. Their pricing is complex, riddled with additional fees, and sky-high.
- Low prices with invisible extras – Other companies may quote a low monthly subscription price – or even claim to offer the EDC for free – but their users later find themselves paying extra for additional modules, or racking up expenses in the form of specialized programming contractors and slow build times.
These types of companies differ drastically in many ways, but they do have one thing in common: Whether the costs are transparent or hidden, you’re paying too much for your eClinical system.
The Medrio way: Keeping Costs Low from Beginning to End
Medrio has avoided the pitfalls of both of these models, offering a total cost of ownership that keeps your studies comfortably within their budgets. The price of our monthly subscription beats that of many companies flat-out. And customers can conduct their research without worrying about unforeseen expenses surprising them at every turn.
- Simple, consolidated pricing
- Keep your studies in your hands – Users can build their studies and make mid-study changes with no programming required, eliminating the costs of programming and IT staff.
- Work fast! Time is money – The absence of required programming, as well as efficiencies like the ability to make mid-study changes without taking your study offline, empowers researchers to accelerate their timelines – and save costs as a result.
By The Numbers
We compared our pricing to that of several other EDC providers, based on the cost of running a 1-year early phase oncology study. Here are the results:
- Compared to two large EDC solutions, the cost would be an average of 63% lower in Medrio.
- Another provider offers a lower monthly subscription than Medrio – but would charge up to $25,000 for study build and EDC system setup – probably requiring additional staff and elongated timelines – and another $1,000 for additional modules. The result: The lower subscription price is negated, with Medrio offering more robust functionality and better ease of use.