Billing Sponsors for Site Expenses: How to Budget, Handle and Track Payments
Your site can’t afford to walk away from hundreds of thousands of dollars of uncollected revenue.
Billing Sponsors for Site Expenses: How to Budget, Handle and Track Payments can help. This management report presents best practices for billing, collecting and auditing payments to help close gaps that funding can slip through. You’ll get advice on setting up a water-tight system, auditing your finances regularly to look for lost cash and making sure your contract with the sponsor covers every little cost you’ll incur in conducting a trial.
This management report sheds light on key best practices, including:
- Discovering how to do a financial review of studies both open and in closeout to spot funds that need to be recovered
- Identifying language to use and points to include in a clinical trial agreement to ensure the study sponsor/CRO knows exactly what they will be paying for
- Assessing how to minimize co-mingling of trial funding with operational expenses
- Determining how to create a discrepancy report for each study that you can share with the sponsor
- Mastering how often to conduct a financial audit and what events might trigger an audit outside the regular schedule
Don’t let any more money from sponsors slip through the cracks. Order your copy today.
About the Author
David B. Russell, Director, Site Strategy, PFS Clinical has more than 25 years of experience in the healthcare industry, the last 14 of which specifically focus on clinical research. He currently serves as Director, Site Strategy for PFS Clinical, with responsibilities including oversight of accounts utilizing multiple administrative services that PFS Clinical offers. Mr. Russell has extensive experience in the areas of financial reporting, budget/contract negotiations, PI compensation, coverage analysis, research billing adjudication, process improvement, decreasing study start-up times, hospital operations, and improving research site financial performance. He has been instrumental in the building, restructuring, and turnaround of numerous research sites throughout the country.
Who Will Benefit
- Research financial specialist/manager
- Research department managers/directors
- Manager/director of research business office
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David B. Russell
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