Complex clinical trials generate a maze of critical payment transactions across multiple countries and currencies that can easily create leakage without oversight. Through AI-powered Contract Management services, PRGX optimized payment processes and strengthened financial controls to drive substantial cost savings and recoveries.
$40M+
Corrective Actions Identified
$13M
Cash Recoveries Realized
$800M+
Auditable Spend
Challenge: Unwieldy Visit Payments and Expenses Required Better Contract Controls and Visibility
A Fortune 500 pharmaceutical company was challenged managing visits and related expenses in their multi-year global clinical trials with an auditable spend of $800M. Overcharges for visits, excess travel expenses, foreign exchanges errors required more visibility to prevent leakage.
Solution: Contract Management Services Delivers Over 6% Savings with Clinical Trial Audit
The many stages, locations, travel, and screenings involved with clinical trials can make expense management more complex. A detailed contract review can identify errors and provide recommendations to prevent future errors and unlock substantial savings.
The PRGX Contract Management services team provided the business intelligence based on years of pharmaceutical and contract review experience to unlock more than $40M in future savings and $13M in cash recovery.
Breakdowns Identified
- Inaccurate price per visit payments
- Overcharges for visits after a screen failure, early termination or early dismissal
- Multiple visit types identified on one visit
- Primary investigator paid under multiple sites
- Sites paid for two visit types on one visit
- Travel expenses in excess of policy or supported by internal documentation only
- Volume discount and foreign exchange errors
Key Learnings
- Inadequate billing documentation and transparency
- Insufficient controls and review protocols
Streamline Your Clinical Trial Spend with PRGX Contract Management
The PRGX Contract Management team is ready to help you gain greater visibility and insight into contract details and address systemic errors, ensuring immediate cash recoveries and long-term cost savings. PRGX partners with many global pharmaceutical and health organizations to overcome S2P challenges.
PRGX has analyzed $2.3T client spend with $2.3B client revenue across industries and services, yielding 10x average ROI. Chat with our team of experts about your unique goals and or watch a demo to see our solutions in action.
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