Tips to Expedite Your Site Payments

Contracting Process

  • Ensure payee name and address are clearly stated within the site contract (CTA)
  • Disclose 3rd parties who will serve as your payee early (during site selection process)
    • SMO 
    • Brokers
    • Networks
  • If you were not involved with the contract, make sure you obtain a copy of your CTA after execution
    • Understand your site budget within executed contract
    • Ask if something does not make sense
  • Complete any banking and financial information forms in a timely manner (e.g. EFT)
    • Make sure applicable colleagues are aware of contacts provided for checks/EFT/remittance statements

Planning Your Cash Flow

  • Be aware of data entry cutoff dates that trigger payments
    • Understand what qualifies as data entered to trigger payment
    • Monthly/Quarterly Cutoffs (specific days?)
  • Request definition of “monthly” or “quarterly”
    • Is it 45/60 days past data cutoff at the end of the specified period?
  • Make sure you account for any holdbacks that may be taken in your study when planning your receivables forecast

Invoice Submission

  • Understand what items require invoice, which do not, and where to send them
    • Pass-Throughs/Invoiceables
    • Visit Payments (US)
    • Visit Payments (Outside US)
  • Include the following information on invoices when submitted:
    • Sponsor & Protocol ID
    • Investigator Name
    • Site Name and Number 
    • Invoice #
    • Details of expense
    • Make sure all patient info is blinded on invoices (e.g. X-Rays, tests, etc.)
  • Be sure that the expenses submitted align with your signed contract
  • Obtain sponsor/CRO/payment provider approval for expenses outside of the contract budget
    • Items not in CTA may require an amendment depending upon terms
  • Include a 3rd party invoice or any additional backup documentation required per your CTA
  • Ask your payment processor what the net terms are on all invoices if not clear in CTA