NewswireToday - /newswire/ -
Philadelphia, PA, United States, 2011/10/18 - Web-accessible standard of care™ provides objective data on how sites, actually treat patients within the standard of care.
• TTC’s Standard of Care™ draws from 1.2 billion claims. Every year, Standard of Care tracks about 1.2 billion medical claims submitted by physicians and 200 million claims submitted by hospitals and clinics.
• Standard of Care at forefront of benchmarking innovation. TTC, the nation’s first drug development cost benchmarking company, provides the only tool on the market that provides current information on what is considered to be standard of care procedures.
• TTC’s Standard of Care provides comprehensive data. Derived from HIPAA compliant, de-identified, third party medical reimbursement claims across various third-party insurance providers, Medicare and Medicaid, and covers approximately 70% of reimbursed care in the US.
• Standard of Care is Web accessible. TTC’s Standard of Care, easily accessible through the Web, allows the users to identify which of the protocol’s visits and procedures are within the standard of care claims.
• One mouse click does it all. TTC’s Standard of Care highlights all the protocol procedures that are standard of care. That means savings from reduced payment overlap from sponsor and third party payers. Standard of Care also reduces the time and effort it takes to gather standard of care information, and gives companies confidence in negotiating Fair Market Value payments to investigators.
• TTC’s Standard of Care creates savings industry-wide. Based upon a global study of 2,300 sites, there is no evidence that paying above the industry median improves data quality or reduces study completion time. Most companies rely upon laborious processes and sources, e.g., sites and internal experts, for information. TTC’s Standard of Care makes finding SOC data easy.
"Clinical grants constitutes a large portion of clinical development spending, and companies must find better ways to use their clinical grant dollars" - Professor Harold Glass, PhD
Harold Glass (TTC Principal): TTC’s Standard of Care helps sites control costs with current and accessible standard of care data. Our database, a one-of-a-kind resource, covers approximately 70% of reimbursed care in the US. Standard of Care. Annually, we track about 1.2 billion medical claims submitted by physicians and 200 million claims submitted by hospitals and clinics. Clearly, no study wants to pay more than it must for per patient care. As the pharmaceutical industry uses standard of care data to ensure that it is using financial resources effectively, it can also ensure that it is paying appropriate fair market rates.
Ying Jiang (TTC Director): Companies are concerned about fair market value and more effective clinical grant management and TTC’s Standard of Care data gives them the cost saving information they need. Our analyses of thousands of companies tell us that almost three-quarters of them consider SOC an essential part of developing clinical grants.
Founded by Dr. Harold E. Glass and other principals, TTC (TTC-LLC.com) provides drug development organizations with state of the art cost benchmarking tools and analysis. TTC’s management team is unique in the industry experience it brings to the issues of drug development cost benchmarking. The TTC principals have been at the forefront of benchmarking innovation since founding the first drug development cost bench-marking company in 1990. They have been involved in all aspects of outsourcing cost management, from the selection of vendors, to the budgeting of protocols and CRO projects, to the negotiations with clinical sites and other providers. TTC combines a strong financial base, an international outlook, and a proven customer focus to help industry professionals understand and manage both the costs and speed of drug development.