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Greetings!
Check out the
latest industry news and insights into clinical cost benchmarking as
brought to you by GrantPlanŽ,
CRO CostProŽ, IISiS™ and Standard of Care™.
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Welcome to the "Other Side" of
Grant PlanŽ
...Online Negotiation |
Online Negotiation, with
investigator sites, is the 2010 trend for the industry. Once you try
it,
you will never return
to the telephone, paper based and fax methods again. It is faster, easy
to use and a greener way to negotiate.
TTC has documented
significantly reduced times between negotiation start and budget lock.
This reduced cycle time improves the
time to study start.
Getting
started
is as easy as 1, 2, 3...
1)
Prepare for negotiation by setting the
study specifics
to be forwarded to the
investigator sites.
2)
Begin the negotiation by
having TTC connect with and
train your
investigators on the
use of the online
capability.
3)
It's a lock... any changes and acceptances to the
proposed
costs are highlighted
and recorded.
GrantPlanŽ retains a record of
all the study budget transactions, keeping the entire study in one
secure
location available for your access at a later date. This feature
provides for
speed to budget agreement, saving time and getting to start of study
quicker. The "Other Side" is just
another way GrantPlanŽ serves clients with an effortless means of
negotiating
budgets.
Investigators and sponsor
alike, quickly adapt to the other side of GrantPlanŽ vowing never to
return to
their antiquated ways again.
For a demonstration of the
GrantPlanŽ on-line negotiation, please contact TTC at (215) 243-4103 or
email
at
help@ttc-llc.com.
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Why Apply Standard of Care
in Clinical Trial Research? |
Current Payment
Overlap for Standard of Care Treatment in U.S. Clinical Trials, As a Percentage of
the Total Cost Per Patient 
The financial aspect of
standard of care in patient
treatment has become a major issue for many companies conducting
clinical
research. Of equal
importance is the focus of legislative and regulatory agencies on all
payments
made to physicians from the pharmaceutical companies involved in all
phases of
clinical trials. The issue of fair
market value payments to physicians is called into question by these
agencies.
It is known that subjects in later phase clinical research
must have the malady being treated in the clinical trial. Consequently
many of the treatments
these patients receive would and should be covered by third party
payers,
typically government programs as Medicare and Medicaid or by commercial
insurance companies.
Furthermore senior clinical development management is simply
looking for better ways to contain rapidly increasing drug development
costs. The application of Standard
of Care™ is one way to
avoid double payments for medical procedures that are
covered by third party payers. A
review of over 100 current protocols* demonstrates that, while companies
are
introducing standard of care considerations into their clinical grants,
there
remains a substantial amount of potential payment overlap. Even where
pharmaceutical sponsors have
considered standard of care in their grants, analysis reveals an
additional 22
percent of clinical grants, can be
identified as payments by these third party payers. Standard of care is
substantiated by, what physicians are
routinely paid to treat a patient for a specific indication according to
actual
payment records**. Moreover, 80%,
of this payment overlap take place for less expensive procedures, that
is,
procedures costing less than $1000.
* Subscribers to GrantPlan conduct over 76% of all clinical
trials, ClinicalTrials.gov; March
1, 2010.
** Trialytics payments data covering over 800 million
payment records from commercial insurance companies, Medicare and
Medicaid.
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From the Help Desk
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Procedure Codes in Search of Non-Procedure Partners
Negotiated grants TTC receives
from GrantPlanŽ subscribers have identified some procedure codes in need of
additional non-procedure codes. This is especially pronounced in protocols
specifying procedures as longer term glucose testing, spirometries and the more
complex, invasive procedures including biopsies and colonoscopies.
GrantPlanŽ highlights several
options to account for additional resources at the institutions performing
these procedures. According to the
type of procedure GrantPlanŽ has codes for day facility fee simple, complex and
overnight simple and complex.
Users have applied simple daily
facility fees used for glucose tolerance testing, spirometries lasting several
hours and longer term pharmacokinetic sampling. Complex daily facility fees can be considered when
bronchoscopies and colonoscopies are performed and the subject will need a
recovery room for several hours including additional attention by the
staff. In situations where there
is a bone biopsy with potential bleeding or infection, an overnight facility
fee might be appropriate.
Please feel free to contact us at
help@ttc-llc.com
with any questions. As always, happy benchmarking from the TTC team!
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Contact TTC,llc
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www.ttc-llc.com
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TTC Corporate Headquarters
4548 Market Street
Suite M-20
Philadelphia, PA
19139
215.243.4103
(tel)
215.895.4001 (fax)
info@ttc-llc.com
816 West Evergreen
Suite 200
Chicago, IL 60642
773.799.9378 (tel)
773.681.7144 (fax)
info@ttc-llc.com
TTC European Headquarters
136 Delaware Road
London, W9 2LL UK
44 (0)7792 145 831 (tel)
44 (0)2086 584 033 (fax)
info@ttc-llc.com |
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