Should You Build or Buy? The High-Stakes Decision in Expanded Access
The Complexity of In-House Solutions
The choice between building a custom solution and purchasing a ready-made platform is not just about customization. It encompasses several key factors:
Risk: In-house solutions often carry a higher risk of failure, particularly if the development team lacks experience in regulatory compliance.
Compliance: The healthcare industry is heavily regulated. Navigating these regulations can be a daunting task for companies attempting to build their own systems.
Cost: Building software can lead to unforeseen expenses that far exceed initial estimates, resulting in budget overruns.
Time-to-Market: Developing a solution from scratch can significantly delay the launch of essential programs, impacting patient access to critical therapies.
Many companies underestimate the complexity involved in developing in-house solutions, leading to costly delays and regulatory headaches.
Buying a Purpose-Built Platform is a Smarter Path
This is where our Build vs. Buy Guide comes into play. It cuts through the uncertainty and provides a clear, strategic case for why purchasing a purpose-built platform like MedaSystems is the smarter path.
👉 Access the guide now to avoid the pitfalls of building and make the most informed decision for your Expanded Access Program.
Insights from Industry Leaders
Matt Rosen, Co-founder of MedaSystems, emphasizes the importance of making informed decisions in this landscape. He notes, "In my experience, healthcare companies tend to build customized solutions, partly due to a lack of generic platform software in the industry. As more platform solutions become available, I urge healthcare business leaders to look deeper into the necessity of building a new software solution when there are existing options to leverage."
Jiang Li, Ph.D., Founder and CEO of Vivalink, Inc., echoes this sentiment, urging healthcare leaders to thoroughly evaluate their options before committing to a build strategy.
5 Reasons to Choose to Buy
Managing Expanded Access Programs (EAPs) is crucial for allowing patients with life-threatening conditions to access investigational therapies. However, this process requires navigating complex regulatory, operational, and data management challenges. Here are five compelling reasons why buying a vendor-developed platform may be the best choice:
Expertise: Vendors specialize in the nuances of EAP management, ensuring compliance with all regulations.
Cost-Effectiveness: Purchasing a platform can be more cost-effective than building one, especially when considering long-term maintenance and updates.
Faster Implementation: A ready-made solution allows for quicker deployment, enabling faster patient access to therapies.
Scalability: Vendor solutions are often designed to scale with your needs, accommodating growth without the need for significant additional investment.
Focus on Core Competencies: By purchasing a platform, companies can focus on their core competencies rather than diverting resources to software development.
While the allure of a custom-built solution may be tempting, the realities of risk, compliance, cost, and time-to-market often make purchasing a purpose-built platform the wiser choice.
👉 Access the guide now to learn more about making the right decision for your Expanded Access Program