Revenue Guard Services: Clinical Trial Financial Management
The complex nature of clinical trial agreements and their payment terms can make the finances of your clinical trials a tricky area in your research administration. PFS Clinical’s seasoned team of financial experts can handle the tracking, reconciliation, and reporting on your clinical trials.
Our approach is customizable to fit your institution. Regardless of specific software or systems, PFS Clinical’s quality remains.
Benefits oF financial management
Gain accessible, accurate, and timely accrual information
Ensure more effective business decisions with enhanced reporting
Create a checks and balances based financial process
Enable a snapshot-in-time of your entire research financial portfolio
Improved ROI for all systems (CTMS, EHR, financial, etc.)
financial management Process
- Complete analysis of each study including payment receipts, subject visit information, revenue, and accounts receivable
- Create and maintain proforma invoices in proprietary accounting system or in the client’s system
- Invoice the sponsor/CRO for pass-through expenses as required (i.e. IRB, pharmacy, and advertising fees)
- Act as a liaison between your organization and the sponsor/CRO and perform collection/reconciliation activities
- Provide online access to clinical trial agreements, collection/reconciliation data, and monthly financial reports