Investigator Payment accounts for a significant portion of a clinical trial budget. On an average, investigator payments account for half of the study trial budget. Therefore, it is imperative to get the investigator payment process right. You have to strike the right balance for establishing and managing the investigator payment process. As the success of your trial depends on meeting the enrollment target, it is very important to establish and maintain good relationship with your investigators. Paying the investigators accurately and on time goes a long way in winning your investigators confidence and trust. It is one of the critical factors in establishing positive relationship with your investigators.
Many organizations still rely on excel spreadsheets to manage investigator payment process. Processing investigator payments accurately using the spreadsheets become extremely challenging. Incorrect information, errors, and delays in calculating investigator payments lead to dissatisfied investigators impacting your overall enrollment targets and budget.
Octalsoft CTMS (Clinical Trial Management System) helps you manage the investigator process efficiently. Octalsoft CTMS enables you to automate the investigator payment process. With the ability to manage global clinical trials, you’d be able to process investigator payments accurately in their local currency and based on the terms and payment milestones agreed to in the Clinical Trial Agreement with the investigator. With online payment tracker maintaining the required granularity and aggregation of all your investigator payments, you’d be able to reconcile your payments and address the regulatory demands for transparency, including the Sunshine Act.
Get rid of your excel spreadsheets by managing your clinical trial operations from a single database of Octalsoft CTMS and improve your team’s efficiency and productivity. Gain complete control and real-time insight into your clinical trial operations.