Why LifeSciHub?

LifeSciHub News

LifeSciHub is an ever-growing network of independent drug development subject matter experts.  Every year, more and more industry veterans leave the corporate ladder to become independent consultants.  From manufacturing experts to medical affairs, there is a vast abundance of the highest quality, most valuable drug development talent available to industry.

The average member of the LifeSciHub network has at least 20 years of industry experience.  The most common reason for becoming an independent expert is wanting to practice their “craft” ie area of expertise.  Consider Deana, former head of Statistical Programing for a top 5 CRO:  “As VP of Statistical Programming I may have been managing 75 accountants for all I touched anything resembling data science.  At the VP level all I did was P&L, budget and HR.  To be frank, I hated it.  I am now fully engaged with my area of subject matter expertise, data management and data science, as an independent small business of 1.  My specialty is providing drug sponsors with CRO data vendor oversight and I couldn’t be happier.  Or busier!  There’s quite the demand for this type of expertise.”

When a drug sponsor puts a Master Services Agreement in place with LifeSciHub and seeks drug development expertise, the drug sponsor is introduced to several qualified experts for the needed task or project.  The drug sponsor then selects who they want to work with.  The independent SME proposes a Statement of Work (SOW) and pricing, perhaps the two parties negotiate and come to an agreement.  As there is already an MSA in place with LifeSciHub, there is no need for another Agreement, just an SOW between the drug sponsor and LifeSciHub.  LifeSciHub then puts an identical SOW in place between LifeSciHub and the small business SME.  LifeSciHub handles all invoicing and payment processing.

In essence, this is the same subcontracting that is already happening throughout the vendor ecosystem.  The difference is the radical transparency, low fees, and majority of “spend” going to the actual SME, which results in a much higher quality of expertise being made available to the drug sponsor.

These Experts are Not Available by Traditional Means

Most drug sponsor have complex human resources systems, including carefully selected staffing agencies, built upon powerful traditional beliefs, such as:  all workers prefer 40 hour workweeks, all workers are totally dedicated to the climbing the corporate ladder, the greatest achievement a worker can make is to be promoted to that next rung of the ladder, and so forth.

These beliefs are still true for the majority of workers.  However the gig-economy has created a whole “new” class of workers- independent small businesses.  These are workers who, for whatever reason, don’t need or value traditional benefits such as health insurance and paid vacations.  They prefer valuable, interesting project work over titles.  They don’t need a guaranteed paycheck and in fact prefer to manage their own utility rates and, like any small business, own the risk of utility peaks and valleys.  They recognize the value of diversifying that risk by having several different clients at a time.  They see themselves as small businesses and want to pay taxes as the small businesses they actually are (1099).  They do not want to be forced to be taxed as employees (W2) when they have none of the “benefits” associated with being an employee.

If a drug sponsor’s only way to engage expertise is through traditional human resources channels and thinking, the drug sponsor is missing out on this very valuable “new” pool of drug development talent.  What is needed is a new way to engage, one predicated on resilience and agility, a channel that is designed for the Future of Work:  LifeSciHub.

Get in touch today!  sheila@lifescihub.com