Industry Provider Profiles
CFS Clinical formerly Clinical Financial Services
Company Type Services
CFS Clinical (CFS) is the only company to offer turnkey business and financial management services for clinical trials - helping CROs, biopharmaceutical sponsors, and medical device companies address today’s complex management challenges. Located in the heart of the "Pharma-Belt" in suburban Philadelphia, we combine focused expertise, innovative processes, and state-of-the art technologies to streamline operations and improve the way companies manage the business of clinical trials. Ultimately, CFS helps clients bring products to market faster.
CFS offers a unique blend of contract, regulatory and cutting-edge investigator grant payment services. Core competencies include in-depth knowledge and understanding of clinical trial budgets and agreements, contract negotiation and administration, regulatory documentation, and finance and accounting specific to clinical trials.
CFS offers services to:
- Biopharmaceutical Sponsors
- Medical Device Companies
- Clinical Research Organizations
CFS provides focused business and financial services for clinical trial sponsors and CROs that help clients speed the initiation and completion of studies, enhance investigator relationship management, operate more efficiently, and meet growing compliance requirements. All services are easily tailored to allow clients to use only what they need when they need it.
Contract and Regulatory Services:
Study startup activities including regulatory document collection and contract management.Complete lifecycle management of clinical trial agreements, including investigator budget development and contract administration and negotiation.
- Experienced site activation resources solely dedicated to this critical task
- Site profiling enables CFS to leverage information based on previous studies and track relevant data for use in future negotiations and document completion
- CFS Startup InSite system manages the entire contract lifecycle, including essential regulatory documents
- Electronic distribution and collection of site activation documents via a secure portal environment
- Proprietary technology used to review and track Financial Disclosure Forms
- Access to IMS Grant Plan® plus large proprietary database of procedures and costs
- Access to vast legal network in more than 60 countries
Critical balance of speed without sacrificing quality.
- Accelerate cycle times: Site profiling maximizes the number of activated, "enrollment-ready" sites when the trial begins.
- Improve budget management: With access to IMS Grant Plan® plus a large proprietary internal database of procedures and costs, CFS works with clients to develop a realistic and fair investigator grant budget and payment schedule.
- Streamline negotiations: CFS Startup InSite delivers all the efficiencies and benefits of contract management processes while leaving clients in complete control of the negotiation. It tracks project and site information, key negotiated terms stratified by budget, contract, and regulatory document clauses, redlined agreements with version control, and negotiation status.
- Improve compliance: The legal network supports contract negotiations around the world with efficiency and clarity, so clients’ legal teams are fully prepared to manage risk on an enterprise level. We also ensure that agreements are structured appropriately to handle country-specific tax regulations.
Global Payment Services
Global administration of investigator grant payments and pass-through expenses in a highly-controlled and fully integrated global payment-processing environment.
- Expert teams with a proven understanding of the inherent complexities of global grant payments, including navigating local tax implications, foreign exchange, and risk
- Timely and accurate electronic payments in local currency
- Detailed remittance via the Internet in local language available 24/7
- Unparalleled visibility via CFS Payment InSite , the CFS exclusive investigative payment environment for sponsors, sites, and CROs
- Project and portfolio dashboards that support tactical project and strategic program management, facilitate collaborative communication, and serve as an online data repository
- Flexible integration options that allow subject visit information to be captured via Web services (XML), secure FTP upload or Microsoft Excel CSV file; CFS is a technology partner of Medidata for streamlined feeds from Medidata Rave® EDC
- Proprietary application that automates the grant calculation process
- No software implementation or knowledge transfer, or conversion issues
Turnkey Services: All the benefits of great technology supported by our payment experts and proven, SOC 1 compliant processes
Financial control and compliance: CFS’s innovative software and rigorous processes allow clients to precisely calculate monthly spend. With that insight, organizations can make just-in-time payments and better manage trial budgets. Accurate, real-time accruals and reporting enhance business intelligence - while electronic billing transactions and straight-through processing enable superior financial control. Moreover, as a result CFS’ adoption of SSAE 16 Type II (SOC 1) compliance as part of our control environment, we help meet our clients’ Sarbanes-Oxley Act requirements regarding Service Organizations.
Enhance investigator relationships: CFS’s automated data extraction process allows us to meet investigators’ expectations for prompt, accurate, and transparent payments. Outside North America, CFS’s advanced invoicing process and payment tracking further eases our clients’ site burden. Investigators are guided with automated alerts to our site portal to see details of their payments. The CFS Payment InSite system allows for unprecedented financial visibility for sponsors.
Accelerate cycle times: Because we extract payments from EDC data (eg. Medidata Rave®), investigative sites are incentivized to input data quickly, ultimately providing trial results faster.
Kevin T. Williams, MBA/MS
Vice President, Corporate Development and Marketing
CFS Clinical formerly Clinical Financial Services
1000 Madison Avenue, First Floor
Audubon, PA 19403
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