With manual or semi-automated financial processes, payments due for clinical research work can easily be overlooked. An automated product, however, can often justify its own cost just by ensuring that you’re not leaving money on the table.
Velos eResearch not only automates financial tasks, but also integrates them with research activities and clinical systems. When coordinators log patient events, accounting receives immediate access to that information in a familiar format. Not only does this save you from double data entry, but it ensures the collection of milestone-based billing for complex contracts.
In addition to billing, Velos eResearch includes budgeting capabilities to ensure that studies are feasible for the site to participate in. It separates standard-of-care costs and research costs, capturing a complete coverage analysis to streamline both budgeting and billing.
“Velos eResearch makes sure we bill sponsors, have the right payers, and understand financial status of our trial.”
Financial capabilities include:
- Budget design and review
- Milestone processing