Overcoming Challenges in Selecting CROs and Clinical Trial Vendors

Keith Parent, CEO of Court Square Group and RegDocs365, discusses the importance of vendor management in life science with Kalyan Obalampalli (KO), CEO of ClinAI. KO shares his experience in managing $100 million in vendor contracts and the challenges of using Excel for RFPs and vendor comparisons. He highlights the benefits of ClinAI's platform, which streamlines vendor selection and management, providing analytics and data-driven decision-making. KO emphasizes the need for fit-for-purpose vendor selection, the importance of clear templates, and the potential of AI in predicting costs and ensuring fair vendor payments.

Introduction to Court Square Group and RegDocs365
• Keith Parent introduces himself as the CEO of Court Square Group and RegDocs365.
• Court Square Group has been a managed service technology company for over 30 years, focusing on life science companies.
• RegDocs365 is a validated content repository for regulatory submissions, clinical supply chain, and CROs.
• The company supports startups and large international life science companies with a suite of solutions including validated hosting and AI solutions.

Introduction to ClinAI and Vendor Management
• Keith Parent introduces Kalyan Obalampalli (KO) and his company, ClinAI.
• KO has been involved in vendor management for over 18 years, managing contracts worth millions of dollars.
• KO shares his experience of selecting vendors for over $100 million in 2019 and deciding to start his own company.
• ClinAI was launched with beta customers who became paying customers, and the company has been successful since then.

Challenges in Clinical Operations and Vendor Selection
• KO discusses the challenges in clinical operations, including managing large contracts and comparing vendors.
• He highlights the inefficiencies in current processes, such as using Excel and paper for RFPs and vendor responses.
• KO emphasizes the need for a better way to manage vendor selection and the importance of having clear templates and processes.
• He shares examples of how different vendors present their budgets and RFI questions, making comparison difficult.

The Role of Technology in Vendor Management
• KO explains how ClinAI's platform helps harmonize the vendor selection process by creating and sending RFPs, receiving responses, and providing analytics.
• He discusses the benefits of using a platform like ClinAI, even without technology, to streamline the process.
• KO provides tips for current companies, such as using clear templates, reaching out to multiple vendors, and asking the right questions.
• He highlights the importance of negotiating with vendors and understanding their enrollment projections and risk-sharing strategies.

Comparing Large and Small CROs
• Keith Parent and KO discuss the common practice of choosing large CROs and the potential issues with getting the B or C team.
• KO shares a survey from 2019-2020 showing that most clinical operations experts select vendors based on familiarity rather than specific study needs.
• They agree that smaller CROs can often be more nimble and willing to work with specific software, making them a better fit for certain studies.
• KO emphasizes the importance of fit-for-purpose selection and the need to challenge the status quo of choosing large CROs.

The Importance of Data-Driven Decision Making
• KO explains how ClinAI's platform provides a data-driven decision-making framework, helping companies make informed vendor selection decisions.
• He discusses the challenges of using Excel for vendor comparisons and the benefits of a more advanced platform.
• KO shares examples of how the platform helps negotiate change orders and compare different vendors' promises.
• He highlights the importance of having clear enrollment rates and protocol changes agreed upon before starting a study.

The Future of AI in Vendor Management
• Keith Parent asks about the role of AI in vendor management and the future of ClinAI.
• KO explains that ClinAI is currently focused on vendor selection and management but is exploring the use of AI to predict costs and ensure fair vendor payments.
• He discusses the potential of using data from multiple studies to predict future costs and ensure clients are paying the right amount.
• KO emphasizes the importance of building tools that meet the specific needs of clinical trial departments and are easy to use.

Conclusion and Contact Information
• Keith Parent asks how companies can reach out to ClinAI for more information.
• KO provides the website and LinkedIn as contact points, inviting companies to reach out for a demo.
• He mentions that he is active at clinical shows and encourages companies to reach out in person.
• The podcast concludes with Keith Parent thanking KO for his time and contributions to the inaugural episode.