This webinar was recorded on Thursday, June 27, 2019.
This webinar explored the different avenues of paying both PIs and Sub-Is for their oversight and involvement in clinical trials. It also showed you how to automate the required finance function to track your model using your CTMS.
From percentage to flat rate, the sponsor and indication can determine the best way to set up your site’s expenses and provide compensation to all parties involved. The most important part of the payable process is to remain consistent and fair so that not only are you building a relationship with your PI, but ensuring your site is profitable and successful in each and every trial.
Specific topics covered in the webinar included:
- When to pay a flat rate vs. a percentage
- What part of the visit yields a payable? Visit? Passthrough? Invoiceable?
- Does your rate increase with exceeding enrollment?
- Tracking payments made and payments owed
- Utilizing a CTMS to streamline/automate the process
PRESENTER:
Chris Monaghan, Clinical Financial Manager
Chris is a Clinical Financial Manager at BTC Network. Previously, he worked in credit and collections where his customer service skills were used to manage a large AR and protect company assets through contract review and negotiation. He utilizes his current and previous skills to maximize profitability for his clients and establish new relationships within the field of clinical research. In his spare time he enjoys spending time with his two daughters, working on his house and watching the New England sports teams in action.
