When it comes to negotiating budgets for a clinical trial, sponsors, CROs and sites all have the same goal: to run the study. Yet just like most business relationships, the conflict comes in what defines a fair price for services rendered.
Now, with inflation at its highest rate in four decades and attrition rates at clinical research sites exceeding most industries, developing fair marketing value (FMV) for investigator grants is more contentious than ever.
- Understand the purpose of a FMV benchmarking tool and how budget data is transformed and conveyed
- Explain relationships between exchange rates and inflation and methods to mitigate volatility
- Compare sponsor approaches to utilizing benchmark data