Great summary! And yet, for all their problems, CROs are sometimes still the fastest alternative. We did a clinical trial for a software platform a few years ago, and hoped to partner with a prestigious hospital system to run the trial.

The hospital partner was 100% on board—our protocol just had to pass their internal review board (IRB). IRB is a black box, and they could only give us a vague estimate of how long this would take. We had a huge team, and every week we sat around waiting cost about $200k.

Finally the client couldn't take the uncertainty and burn rate anymore, and they reached out to a CRO they had used in the past. The CRO's IRB had a fixed timeline (2 weeks?), and we were onboarding patients a short time later.