Site Payments
Manage site budgets and payments with ease
Manage site budgets and payments with ease
Automatically calculate earning for sites and vendors at a touch of a button thanks to integrated clinical and financial systems. Save costs by spending less time on laborious reconciliations and by preventing overpayment. Benchmark your budget against industry norms and perform multi-scenario analyses in days.
Prevail’s Grant Navigator automatically determines what a site is owed by comparing the established budget and payment triggers (visits, assessments, procedures etc.) with actual clinical data – saving you a substantial amount of time and cost by reducing laborious reconciliations and preventing overpayment.
Comparing and reconciling site invoices with data received ensures you are paying only for work completed but can be manual labor intensive. Prevail ties receipt of data on procedures performed with their appropriate unit or visit cost to automatically calculate accruals for sites, improving accuracy, timeliness and preventing overpayment.
Timely and more frequent site payments reward and promote sites that produce results. Also, programmatically tying payment to data entry leads to more timely data gathering which gives you visibility sooner.
Track budgets versus actuals or accruals versus invoices with automation by tying unit costs to clinical data being collected. Beside saving money and allowing for earned value management, tracking any partner’s cost-overruns can also be another way to identify an operational issue or inefficiencies in a project.
Site costs can vary significantly, particularly with KOLs, so projecting enrollment across a variety of different budgets can prepare you for all eventualities. The benchmarking library can also help financially forecast multiple study designs, enrollment scenarios or even entire programs.
Project accounting and financial tracking systems without integration are no better than static excel documents. The Prevail Project Accounting System integrates with clinical and third-party databases for automated reconciliations and allow exports for ERP or accounting systems and SOX reporting.
Manage site budgets by patient, by visit or by procedure and automatically calculate overhead while incorporating start-up, IRB or other fixed costs. Items can be assigned to Standard of Care or tracked as Reimbursable and multiple currencies can be managed simultaneously.
Industry pricing information can be used to forecast upcoming study costs or to compare bids to an objective industry average. Patented tools allow for standardization, normalization and equalization of vendors costs to enable apples-to-apples analyses.
Learn how Prevail’s Site Payments can help make your study a success.
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