The Hidden Expenses of Choosing the Cheapest Option

“You get what you pay for” – a timeless saying that holds true when opting for the cheapest model, version, or brand. While this is not always the case, it often is when it comes to clinical trials, where selecting the most economical option can incur unexpected costs, making it a more expensive choice overall compared to seemingly pricier alternatives.

Many translation agencies offer rates as low as $1 per word, which may initially seem like a cost-effective solution for managing trial expenses. However, beneath this attractive surface lie hidden complexities that can significantly impact project efficiency and success.

The Impact of Inaccurate Translations on Clinical Trials

Imagine you engage a traditional translation agency renowned for its general expertise but lacking specialization in clinical trials, pharmaceuticals, and healthcare. While they may deliver translations, inaccuracies or misunderstandings due to technical nuance could necessitate extensive revisions. These corrections consume valuable time and resources, leading to project delays that can escalate costs exponentially.

Statistics reveal the stark reality: approximately 85% of all clinical trials experience delays, with an alarming 94% of these delays exceeding one month. Such setbacks carry substantial financial implications, potentially ranging from $600,000 to $8 million per day for each day of delay in a trial. These figures underscore the urgent need to make the right decisions to avoid such financial losses and the strain on relationships with sponsors investing heavily in these projects.

Each delay not only incurs financial losses but also jeopardizes the integrity of trial outcomes and strains relationships with stakeholders. Sponsors who commit substantial resources and support expect efficient progress toward trial completion. Delays can erode trust and confidence, impacting future collaborations and investments in research and development.

Instead, investing a bit more upfront in a qualified translation service with expertise in clinical trials may be better. While the upfront costs may appear higher, the return on investment becomes evident in terms of greater accuracy, streamlined processes, and overall project efficiency. This strategic investment not only ensures the integrity of your trial outcomes but also saves you money in the long run by reducing the need for costly revisions and delays.

Investing in Expertise for Long-Term Savings

When you partner with a translation agency like DTS Language Services, an ISO-certified agency specializing in clinical trial translations, you secure not only high-quality translations but also peace of mind. These specialists understand the nuances of clinical trial documentation so that every word accurately reflects the intended meaning. This precision minimizes the risk of errors that could lead to costly revisions and delays, giving you the confidence that your project is in safe hands.

By choosing expertise over affordability, you safeguard your trial timelines and maintain the confidence of your sponsors. Delays can incur staggering financial losses, as highlighted by industry statistics showing daily costs ranging from hundreds of thousands to millions of dollars. With a dedicated partner like DTS, you mitigate these risks through reliable turnaround times and proactive project management, keeping your trials on track and within budget.

While larger translation providers may tempt you with lower rates, DTS distinguishes itself with a proven track record of quality and commitment to client success. With over 50 years of experience, their specialize ensures that regulatory requirements are constantly met, reducing the likelihood of setbacks that could jeopardize your trial outcomes.

In essence, choosing quality over cost minimizes the total expenditure associated with translation services. By investing in a trusted partner like DTS Language Services, you secure accurate translations and lay a solid foundation for your clinical trials, improving efficiency and maintaining stakeholder satisfaction. This strategic investment not only ensures the success of your project but also saves you money in the long run.