Managing Clinical Research Revenue Cycle to Improve the Bottom Line by Understanding Financial Strategies and Budget Negotiations

Sachit Verma, MD, MBA, FAPCR, CRCP
Director, Research Revenue and Billing Office of Research at Inova Health System

Abstract: Optimizing financial performance in the clinical research revenue cycle processes is important. This article outlines key steps in the clinical research revenue cycle and describes drivers of budget negotiations and the research billing continuum related to financial performance. Strategies and processes to enhance billing compliance to mitigate billing errors are highlighted.

Disclosures: The opinions expressed in this article are those of the speaker individually and do not reflect the policies or position of the speaker’s employer. The following information is for educational purposes only and should not be considered legal advice.

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Budget Development and Negotiation for Investigative Sites

Budget Development and Negotiation for Investigative Sites

Author: Anna K. Rockich, MS, Pharm D, Director, General Surgery Research Program, University of Kentucky Medical Center

Abstract: Effective budget development and negotiation is critical for investigative sites. This article provides an overview of budget requirements for the conduct of a study, identifies common mistakes in developing budgets, and highlights how to effectively develop the budget and negotiate with the sponsor. Tools to assist in managing the budget on a daily basis are provided.

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Digital Tools for Billing Compliance

By: Kelly Willenberg, MBA, BSN, CCRP, CHRC, CHC
Kelly Willenberg & Associates

Abstract: Mobile technology, social media, and health information technology can help clinical research sites handle billing compliance. This article describes digital tools that clinical research professionals already have that they can use to facilitate billing compliance as well as the benefits and challenges of each tool. Clinical research professionals must determine which tools will be most effective at their site.

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