There is possibly nothing as overwhelming as negotiating a clinical trial budget and contract for the first time. Of course, there are very few resources for learning more about this. These are the exact kind of reasons why I started this blog in the first place. In one of our recent webinars, Chris Sauber and myself demystified some clinical trial contract and budget concepts. Hope you find some value here. If interested in learning more about our consulting services, please take a look at our consulting company here.
If you run advertising and marketing or contracts and budgets for your clinical research site, you most likely are familiar with advertising budgets that sponsors will give to sites to expedite and assist with patient recruitment. In this interview I conducted with one of my patient recruitment experts, we discussed creative ways that clinical research sites can gain access to these funds and provide some excellent marketing and branding opportunities for themselves.
The title says it all. Please contact me with any questions, comments, or concerns.
It is important that clinical research sites invoice regularly for any pass through costs that they incur while running a particular study. In this video I explain what some of these costs may be, and when it would be appropriate to invoice a Sponsor or a CRO.
In one of our recent webinars, Chris and I discussed ways for clinical research sites to get better at negotiating their contracts and budgets. We share many actionable strategies that can and should get implemented at your clinical research site as soon as possible.
In today's video, I interview a client of my consulting company that started her own clinical research trial site at the beginning of 2016. 8 months later she is well on her way to having a profitable and sustainable business. While she has certainly faced her fair share of challenges as all startups do, she was prepared to weather the initial onslaught that comes with launching any new venture. Although there are always more challenges to face, I believe we have helped her build a solid foundation from which to grow on.
Many novice clinical research sites and Investigators feel that they should not negotiate a budget or contract because they fear losing the studies. This is the furthest thing from the truth, and actually, NOT negotiating your budgets and contracts is a red flag which telegraphs to the Sponsor or CRO that you are inexperienced.
So many entrepreneurs, physicians, CRA's or CRC's who end up wanting to start their own clinical research site eventually want to look into the profit margins that are possible to generate in this industry. This video explains exactly what you can expect.
In my day job, I help research sites, both experienced and novice, negotiate their contracts and budgets. Here is what I have found in regards to what many often forget to negotiate.
This is some very simple but practical advice for my research sites out there: do not put your contract and budgets in the regulatory binder. Instead provide a note to file that explains where these documents will be kept.
One of the seemingly most popular subject matters that I have covered on this blog has been contract and budget negotiations when it comes to clinical research sites, contract research organizations, and pharmaceutical sponsors. The better each site gets at negotiating contracts and budgets actually bodes well for the rest of the industry in general. Hope this video can help you out with a few strategies.
I was fortunate enough to have one of the industry's most innovative CEO's, Ibs Mahmood from Drug Dev come on the show and share his insights in regards to what is happening in the clinical research industry. We especially dive into issues such as clinical trial site payments, how risk based monitoring is affecting research clinics, and also how big data is allowing for transparent and clear site metrics to be tracked and shared by and amongst sponsors and CRO's.
In this video that was shot right before the Holidays in 2015, I go in depth on numerous clinical trial issues pertaining to research sites, clinical research organizations (CRO's), and site management organizations (SMO's). Budgets and contracts are discussed as well as potential clinical research company profit margins. I also delve into the ever popular topic of Principal Investigator experience, and how savvy Investigators can establish their research practice.