8 Days of Site KPI Advice to Bring Fortune in 2020

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8 Days of Site KPI Advice to Bring Fortune in 2020

 

Day 1:

Monitor your contract and budget timelines, establishing a 3 week window from award to full CTA execution

Day 2:

Establish vendor costs to ensure expenses are covered, minimizing out of pocket expense

Day 3:

Review personnel expenses compared to revenues, keeping in mind your labor cost.  In our industry, it should be at or close to 30%

Day 4:

Monitor your receivables and cash closely.  Large accounts receivable is good if it is current.  Your DSO (Days Sales Outstanding – how quickly you get paid) should be under 40 days

Day 5:

Review screen failure to randomization ratios – are all screen failures being reimbursed?  Can you renegotiate while the study is enrolling?

Day 6:

Set goals for each coordinator regarding studies managed and visits per week

Day 7:

Compare overall marketing budget to patient budget.  Were you given enough funds and what was the ROI?

Day 8:

Familiarize yourself with your CTMS or look into a CTMS.  Automation saves time and allows for productivity elsewhere.

BTC Staff

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