Bio-IT World reported from the fourth Annual Site Solutions Summit that the attendees achieved consensus on six best practices. One of the best practices is for the sites to request monthly payment terms from Sponsors as opposed to the more common quarterly payment term.
A quarterly payment term impacts the already slim profit margins and places burden of risk on sites.
The challenge for many Sponsors and CROs will be the increased effort to manage a monthly payment cycle because they do not have efficient Payments tools or continue to use spreadsheets to manage this process. We believe this to be the greater issue than variable site performance.
Clinical Force customers continue to benefit from an efficient process reducing the effort and cost by up to 90% through using the Payments module. Learn more by clicking here: