Therapeutic Expertise
General Medicine
Our expertise in General Medicine plays a pivotal role in the financial foresight of clinical trials. We possess a unique ability to identify and quantify the costs incurred at various scenarios throughout a clinical trial lifecycle.
Effective Payment Conduct and Oversight: Our understanding of real-world clinical operations allows us to guide the practical implementation of payment processes. This includes collaborating with operational teams and financial experts to ensure timely and accurate payments, which are crucial for maintaining site morale and participant satisfaction. We can anticipate potential payment-related challenges from a medical operational perspective and proactively design solutions
Reconciliation
Monitoring all payments, reconciling expenditures against the budget, and ensuring financial compliance.
Investigator Compensation: Payment for the time and effort of the principal investigator and their study team (co-investigators, study coordinators, nurses, etc.) in managing the trial, overseeing patient care, and collecting data.
Overhead Costs: Compensation for the site's infrastructure, utilities, administrative support, and other general operating expenses related to hosting the trial.
Per-Patient/Per-Visit Fees: This is a common payment model where sites are paid a predetermined fee for each participant enrolled and for each completed study visit. These fees often vary based on the complexity of the visit and the procedures performed (e.g., blood draws, imaging, specific assessments).
Procedure-Based Payments: Specific payments for certain procedures required by the trial protocol, such as specialized lab tests, scans, or interventions.
Start-up Fees: Payments to cover the initial administrative work involved in getting a site ready for a trial, including institutional review board (IRB) submissions, staff training, and site initiation visits.
Close-out Fees: Payments for activities related to closing out the study at the site, such as archiving documents and resolving outstanding data queries.
Payment Schedule: Payments to sites are often milestone-based (e.g., upon IRB approval, first patient enrolled, completion of specific patient visits, database lock) or on a regular schedule (e.g., monthly/quarterly) for ongoing operational costs. Automation through integrated systems linking Electronic Data Capture (EDC) to payment platforms is becoming increasingly common to ensure timely and accurate payments based on completed activities.