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ReCES 5x ROI Case Study

The information used in this case study is actual data compiled by Olive Branch Family Medical Center during the last two years while using earlier versions of ReCES.  The information was applied to a slightly larger research department to demonstrate the impact ReCES has on the departmental efficiency gains, qualified candidate referrals and error reduction.  Not only does ReCES allow you to accurately evaluate more patients, it also allows you to manage more studies without placing a burden on providers and research personnel

The Research Department
Practices Monitored	1
Principal Investigators	2
Clinical Research Coordinators	6
Regulatory Assistant	1
Practice Providers	20

Facts:
	1.  ReCES will analyze criteria for each patient seen
	2.  ReCES will notify providers of all candidates that qualify for a study.
	3.  ReCES will flag enrolled patient in the EMR for retention purposes.
Assumptions:
	1.  60160 patient visits annually (20 providers @ 16 patients per day @ 47 weeks @ 4 days per week)
	2.  30 active enrolling studies per year.
	3.  Each Nurse Coordinator will maintain 5 active enrolling and 5 follow-up studies.
	4.  Clinical Reimbursement for each Research Patient will equal $5,000.
	5.  Clinics have lab results posted to data fields in the EHR
	6.  ReCES will increase enrollment by average of 2 patients per study.
	7.  Prior to ReCES minimum of 1 patient deviation per study. This is where patient was given
	medication that may disqualify them from the study. The research coordinator would have
	to spend on average two hours documenting events and contacting the sponsor and IRB in
	order to keep patient enrolled. On average 1 patient in 15 would have to be dropped.
	These errors would be eliminated by 95 %.
	8.  Research nurses chart reviews to find patients would be reduced by 8 to 10 hours per
	week per nurse.
	9.  The average salary plus benefits for a research coordinator is $50,000.
	10. Time for Principal Investigator and Research Dept. manager to select a study would be
	reduced by several hours.
	11. The salary plus benefits of the Principal Investigators is $225,700.
Chart Review
	48 weeks  (Actual work weeks without vacation and Holidays)
	6 coordinators
	8 hours per week
	2304 hours saved
	$24.04/hr		hourly rate per coordinator ($50,000/2080 = $24.04/hour)
	$55,388		Salary Savings (2304 hrs x $24.04/hr)
Enrollment
	$300,000		Additional Study Revenue (2 patients/study, 30 studies @ $5000/patient)
Patient Retention
	30		(On average 1 per study)
	2		hours each
	60		hours
	24.04		hourly rate per coordinator ($50,000/2080 = $24.04/hour)
	1440		Time spent to retain patients before ReCES
	5000		Cost of a dropped patient on average.  $2500 at one half of earned $5000
			amount before drop status.  Two patients (on average 1 in 15 have to drop).
	6440
	95%		reduction in errors
	$6,118		Savings based on less time spent working to retain patients because of errors
Study Selection
	30		studies annually
	2		hours/study
	60		hours
	$132.54/hr		hourly rate per Principal Investigator and Research Dept. Manager
			($275,700/2080=$132.54/hr)
	$7,952		Salary Savings (60 hrs x $132.54/hr)
	$369,458		Revenue Earned or Expense Saved

 

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