Does tracking sponsor payments keep you up at night?

Using a CTMS is key for clinical trial financial management.

One of the biggest challenges for research organizations is financial management of clinical trials. Does your site struggle with answering any of the following questions:

• How can we easily track when patient events have been completed and then notify our billing department?
• How can we manage the checks we receive from the sponsor and ensure we’re being paid for what we’re owed?
• What is our revenue for any given month?
• Do we have any accounts that are past due?
• How do we keep track of that 10% holdback to make sure to make sure we’re paid the full amount when the study closes?
• How do we keep track of that 10% holdback to make sure to make sure we’re paid the full amount when the study closes?
• How do we keep track of that 10% holdback to make sure to make sure we’re paid the full amount when the study closes?
• How do we manage the invoices we get from labs and other providers and track these payables?
• Administration needs financial details immediately. How can I pull this information together quickly?
• How can I assemble the data for my monthly financial reports in minutes instead of hours (or days)?

A clinical trials management system can, and should, be able to provide solutions to all of these questions and more. If your organization is not currently using a CTMS for financial management, it’s time to explore your options!