Clinical Research Billing supports independent clinical research sites with CTMS management, financial reporting, and billing on industry-sponsored clinical trials. Our services include performing internal audits to ensure all billable items have been collected according to contractual payment terms, invoicing for budget items, following up until the site is paid, and reconciling payments. Without full reconciliation, it is impossible to know if all visits were paid. We implement clinical trial management systems and do on-site chart reviews to find billable items. Currently, Clinical Research Billing works with the following CTMS: RealTime, CRIO, or Clinical Conductor.
We aim to help our clients grow by supporting them with financial expertise and systems experience to increase site revenue. We get paid when the site gets paid. Our objective is to get sites paid for all the work they do.
Site Financial Audits
Are you getting paid for all the procedures, visits and extra procedures you performed in the study conducted at your site? Are you collecting invoiceable items? Most research sites leave money uncollected – let us audit your trials to ensure nothing is left unpaid. We review the clinical trial agreement, the budget, payments, and charts to find all procedures that can be invoiced. We work for clinical research sites and invoice sponsors on your behalf.
CTMS Implementation and Management
We run a billing service for clinical research – we work with the site’s Clinical Trial Management System (RealTime, CRIO, or Clinical Conductor) to manage visit payments, extra procedures, billing, and payment reconciliation. We review protocols, clinical trial agreements, and budgets to invoice extra procedures/fees and reconcile payments.
An optimized and up-to-date CTMS is the best way for a site to track all the financial detail in a clinical trial. A well-managed CTMS also supports operations. Implementation is time-consuming and is best performed by experienced staff. If you do not have a CTMS or are running it sub-optimally, let us help you!
We take the stress out of CTMS!
Clinical Trial Budget Negotiations
We support your site’s finances with budget negotiations to ensure the site is paid fairly and all extra costs are included in the clinical trial agreement. We track visit payments and holdback, then invoice for and collect the extra procedures and fees in the budget. The site receives the funds, and we charge a percentage based on the funds received.
Reporting
Most owners and site directors are too busy to sort through the CTMS for financial reports. We provide concise reports on a monthly basis on Accounts Receivable, Payments, and Revenue. We can report Accrual Revenue if requested. Our sites have consistently expressed their appreciation for these reports. We save you time and get you paid, and we help you understand the revenue side of your business.
Clinical Research Billing
Our goal is to support independent sites with financial and systems expertise. We have real site experience and we know the challenges that sites face. Sites need to get paid for all the work they do in order to operate efficiently. Medical staff should be focused on clinical research, not billing. We do not take up space in your site or require oversight; we understand protocols, CTAs/budgets, and have experience interacting with sponsors and CROs. We provide a team to support your site. We are more efficient and get better results.
For advice on Medicare billing and coverage analysis, we can recommend experts for you to contact.
We get paid when you get paid!
Let us audit your study payments (they audit you enough!)
to ensure that you are paid-in-full for all the work done
How many of those extra procedures are you doing free?
Have those unscheduled visits been invoiced?
Do you know how much you have in receivables?
What about retainage?
Independent sites deserve the same financial expertise that large networks enjoy
We run your CTMS, keep payments reconciled, invoice for extras and fees, and provide reports.
It takes a team to provide these services: we have experts in finance, systems, and billing.
We charge a percentage of gross receipts, so our interests are completely aligned.
There are no upfront or fixed costs. Our success depends on your success!
Is it time to modernize? Ready for eSource?
Research is moving to eSource and we can help with the transition. We have an experienced team that creates eSource for CRIO. Because of our financial experience, we ensure the eSource is set up for compatibility with billing. For RealTime eSource, we will set up the budget to catch all invoiceable items.
Research is all paper
When you track visits and procedures on paper, or even Excel, we have found that invoiceable items are missed, leaving money on the table. The busier you get, the more work you do free of charge. If the rate is in the CTA, the sponsor is willing to pay for it. Let us help you manage in order to collect it.
A system pulls all the information together
There is a lot of heavy lifting to install a system, which is why we are here to help. We have the experience, expertise and manpower to get it done right. If your CTMS has been neglected or mismanaged, we can take over, clean it up, and run it for you – all from off-site.
Then we run your billing and your CTMS
Using your CTMS, we will run your billing for you. Because we get paid a percentage of what you get paid, and not until you get paid, our objectives are the same. The site benefits from a functional operating system, searchable patient database, visit tracking, calendars, and workload oversight, allowing better management.
Accounts Receivable Reporting
We will provide reports detailing invoices submitted for payment as well as work completed that has not been paid. This gives the site an expectation of pending receipts.
Accrual Accounting
The visits reports will allow conversion to accrual accounting and the generation of financial statements. Presenting accrual accounting is important when requesting bank financing or determining a valuation for investors.
Patient Database
Using a CTMS will result in a patient database. You can build a database of patients that will be available for recruitment, ease your feasibility studies, and enhance the value of your site.
Look No Further. Get Started Today
