Prevail Project Accounting ensures that the success of clinical research is measured by financial outcomes in addition to scientific ones. All cost related activities can be linked to the clinical budget, financial reporting and invoicing, allowing real-time project P&L statements, percentage of completion reporting, automated review of supplier invoices and payments with audit trails, etc.
The Investigator Grant Navigator dynamically generates accruals for sites without requiring an invoice – it is based purely on data from completed procedures being received and QCed.
The Grant Navigator™️ simplifies the payment process for you and the investigator sites by automatically calculating accrued fees for each payment period, thereby eliminating the tedious task of manually determining the invoiceable procedures and assessments.
Patented tools can also benchmark clinical trial assumptions and costs against a vast library of industry pricing to validate the projected budget and to standardize, normalize and equalize the varying bids from venders for a vital “apples-to-apples” comparison.
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.
Project accounting and financial tracking systems without integrations are no better than static excel documents. The Prevail Project Accounting System integrates with clinical and third-party databases for automated reconciliations and allows exports for to third-party systems.
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 Grant Navigator for Site Payments can help make your study a success.