Monday, February 27, 2012

Clinical sites on the budgeting problems they face

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Oftentimes, one of the largest problems faced by Clinical Sites in the trial process is not patient recruitment.  Instead, it's their budgets.

Christine Pierre, President of RxTrials, says “The budget still comes so late in the study start up process for the site. We’ve been trying to address this for more than two decades, and here it is 25 years later, and we still are being asked to consider studies and go through site selection, the pre-site visit and regulatory process before we have the budget in front of us. It makes no business sense.”

According to BioIT World, a few of the things Pierre mentions in the article is that sites need to be able to justify their costs and be able to explain that to the other parties.  They also need to use more negotiations up front for money, as they usually experience cash flow problems as they only receive quarterly payments.

At the 21st Annual Partnerships in Clinical Trials, taking place next week in Orlando, Florida, a full day will be dedicated to Operational Excellence, including the session "Proven Tactics to Help you Navigate the Clinical “Bermuda Triangle” of Site, Sponsor, and CRO Communication."  A panel of members from many parties in the process will be on hand to discuss how to improve communication for situations such as these.  It's not too late to register!  Register today and mention code XP1700BLOG to receive 15% off the standard rate!  For more information and the most up to date agenda, visit the webpage.

Do you see the effects of sites budgeting a major problem in the clinical trial process?  Why or why not?

1 comment:

0s0-Pa said...

Yeah, that seems to be a problem for most businesses when it comes to any form of investment. People want to have a guaranteed ROI before they will do anything, or so it seems.
-Jack @ Incentive Meetings