Webinar: Budget Negotiation Strategies
This webinar was recorded on April 24, 2019.
Budget negotiation is an integral part of the clinical trial start-up process, and tends to require a unique skill set and careful attention to detail from the person doing the negotiations on behalf of the site. A well-structured and negotiated budget can mean the difference between the trial funding itself or a research program subsidizing the trial from internal funds, potentially affecting a research program’s financial stability for years to come.
Specific areas covered:
In this webinar, GuideStar Research Finance Specialists, John Tiley and Steven Sands, provided a high level overview of clinical trial budget negotiations and effective strategies to ensure your site’s costs are covered.
- Effective strategies for covering administrative & start-up costs
- Establishing financial feasibility
- Determining your true start-up costs
- Ancillary start-up costs to consider
- Hidden costs/fees
- Effective strategies for covering per patient costs and strategies for handling difficult negotiations
- Conducting an effective per patient cost analysis
- Negotiation strategies and budget formats
- Being prepared for the different types of counter offers
- Budget finalization