3rd Clinical Trial Financial Management Summit (description)

Managing clinical trial finances is an ongoing challenge throughout the entirety of a study. Each trial is unique in its inception, and therefore budgets can be difficult to forecast and control. Operational decisions made by stakeholders can affect the finances of a trial in a multitude of ways, often causing a study to go over budget and over time. The success of any study is contingent on the effective collaboration of a sponsor, research site and a CRO.

Ensuring adequate information is provided to the various stakeholders can be difficult. Protocol amendments can be expensive and problematic without proper negotiation, communication and contracting. Massive sets of data are collected from each trial and with the help of technology these metrics can be used to more accurately forecast expenses, screen fail rates and clinical supply needs. The Summit will bring together all stakeholders, including sponsors, sites, and CROs, to discuss the best practices for managing clinical trial finances.

Special Focuses
- Analyze the methods of identifying study factors that create value and determine the value of vendors to enhance the vendor selection process
- Consider the relationship between procedural costs and protocol complexity to understand how it affects the total clinical trial cost
- Invest adequate time to review budget logistics with internal stakeholders, drive institutional compliance and identify payment structures that minimize account touch time
- Define, discuss and exercise the best negotiation tactics to ensure effective collaboration during an interactive mock negotiation
- Develop and assess realistic expectations of resources to mitigate economic risks through the understanding of supply chain management
- Understand how protocol amendments impact budgets, timelines, and forecasts by investigating the most common causes of delays and unexpected expenses

Schedule:

Time: 8:00 am - 4:00 pm