One of the most exciting aspects of the blockchain industry is its ability to improve processes and industries that have traditionally been slow to change. One such industry is clinical trials. In this post, you’ll explore some key differences between a centralized and a decentralized clinical trial management system, along with a look at some of the benefits both offer.

Access to Patient Data

The blockchain is immutable and transparent, meaning that once data has been stored there, it cannot be changed or tampered with. This makes the blockchain a great choice for storing patient data since it’s fully encrypted and cannot be accessed by third parties unless permission is given.

Additionally, clinical trial administrators can access all of their patients’ information at any time if needed. Patients also have full control over their own data so they can share it with other parties as needed.

Cost-Efficient Clinical Trials

A decentralized clinical trial platform is a storage and processing solution for medical data. This means it can be used to store the personal details of each patient participating in the study, as well as their vital signs and other health information.

It also allows for the processing of this data, which means it can conduct statistical analyses that help researchers determine whether or not a treatment is effective and safe for patients.

One advantage of using decentralized platforms is that they reduce costs by cutting out middlemen such as pharmaceutical companies or academic institutions. The absence of these middlemen can result in lower fees for both researchers and participants who want to participate in clinical trials.

Regulatory Compliance

You may be wondering how clinical trials are regulated and what the difference is between a centralized and a decentralized trial. Clinical trials are regulated by the Food and Drug Administration (FDA), which requires that each trial meets certain standards for patient safety, data accuracy, and regulatory compliance. The FDA will only approve a trial if it meets its standards.

This means that any clinical trial platform must comply with FDA regulations to conduct trials on its platform. If you want your company or start-up involved in clinical research or running clinical studies, then you need to ensure that your platform is compliant with these regulations! 

According to Medable professionals, “Compliance and security at the core.”

All-in-one Solution

If you’re looking for a truly all-in-one solution, these platforms offer just that. They provide everything from patient recruitment and eligibility screening to data management and results reporting. 

With these platforms, you won’t have to worry about coordinating with external vendors or tackling the paperwork involved in multiple contracts.

One of the most appealing things about the blockchain is its potential to make the clinical trial process much easier by reducing the number of vendors and simplifying information sharing between healthcare providers, researchers and sponsors (the people funding clinical trials). 

If you want your entire team coordinated on one platform that integrates with third-party services like CRFs (clinical research forms), then one of these all-in-one platforms could be perfect for your company!

Implementing a decentralized clinical trial platform saves time and money while also improving regulatory compliance. It’s an all-in-one solution that helps streamline the trial process and make it more efficient. The benefits of using a decentralized clinical trial platform are clear:

• Less paperwork
• Better tracking of data with built-in features like electronic medical records (EMRs)
• Reduced costs due to decreased administrative overhead