Learn how adding this one resource can both cut costs and improve performance of outsourced clinical and CMC programs
The costs of working with Clinical Research Organizations (CROs) and other providers are invariably sky high and becoming higher. Why add an expense to this category by engaging an advisor instead of relying on in-house staff?
We hear this question a lot, and yet the clients who engaged our Clinical Business Operations (CBO) services in 2021 achieved $9.3 million in cumulative savings – a return on investment of 520%.
This year we’ve already saved $2 million for one client alone by providing a financial and technical assessment of a manufacturing provider’s proposal. Click here to view the case study.
We act as a highly specialized extension of your clinical operations and finance teams, bringing expertise in the areas of vendor selection, performance-based contract structures, negotiation of statements of work and master service agreements, as well as on-going provider oversight. We identify opportunities to cut costs in many ways, in part by:
- Applying in-depth knowledge of what things should cost and negotiating down excess fees
- Making recommendations regarding cost benefits of certain operational designs
- Leveraging relationships to maximize discount structures
Getting the Best Return
- The earlier you engage us the better. We have the greatest amount of negotiating leverage when we’re involved in the selection process.
- Make sure the right providers are bidding on your programs. We take steps to weed out providers who aren’t likely to meet your expectations. It starts with a unique pre-qualification process and Request for Proposal (RFP) that requires providers to commit to your key terms as part of the proposal response – when you have the most leverage. Click here for additional guidance on contract structure.
- Looking above and beyond the cost savings, our pay-for-performance approach builds accountability into the relationship, incentivizing providers to perform well and achieve the best possible outcomes. Click here to view the replay of our webinar on performance-based outsourcing models.
Learn more about our Clinical Business Operations practice by clicking here.