Achieving Harmonious and Optimized Site Budget Negotiations

Inadequate site budget negotiations can contribute to trial timeline delays, poor patient enrollment, and financial instability for sites and sponsors. According to the life science industry, this activity tends to be burdened by siloed data, manual activities, and a lack of trust between the sponsor, CRO, and clinical research sites. If not handled efficiently, delays in the process can negatively impact an entire study.

As clinical trials become increasingly complex, the weight on sites and patients continues to grow, making clinical trial agreements and site budget negotiations imperative to the financial health of sites. Many factors make reaching a consensus on CTAs and budgets challenging, including inflation, hidden costs, and difficulty accessing fair-market-value data.

While these negotiations are often handled manually through emails and spreadsheets, a lack of visibility and a central audit trail for sites, sponsors, and CROs remains, often leading to confusion, inaccurate budgets, and dissatisfied parties.

Review findings from research efforts into how principal investigators survive the complex process, identify coping strategies, and combat budget negotiation challenges.