Transparency and trust are paramount for the relationship between research site and trial sponsors – the pharmaceutical, medical device, academic, or government bodies who fund clinical trials. This is particularly true regarding the financial arrangements between the parties.
Elias Research Associates is a study management organization (SMO) that specializes in connecting sponsors/CROs with qualified clinical research sites, offering a comprehensive suite of services tailored to enhance revenue generation for research sites. Elias provides administrative services, including business development, contract negotiation, payment, and follow-up with sponsors/CROs, freeing sites from the costs and burdens associated with operating their own administrative and accounting staff. By becoming a member of the Elias Research Network, research sites can capitalize on the expertise of Elias Research to unlock business opportunities, streamline their overall operations, and focus more on the core aspects of running clinical trials.
One area of particular benefit to research sites is that the personnel at Elias Research Associates offer financial expertise. When negotiating a contract on behalf of our research sites, Elias is careful to ensure that all costs of the study are accounted for, including overhead, third-party services, and other matters, including our fees; our research sites will not end up “eating” costs that they failed to account for in the negotiating process of a trial opportunity. We scrutinize every aspect of a trial project, ensuring that our sites understand every budget item included in the study.
Maximizing Trial Revenue: The Advantage of Joining the Elias Research Network
Another area where the Elias Research Network excels is in handling financial transactions. Becoming part of the Elias Research network costs nothing to research sites. Acting as the intermediary payee, we ensure seamless transactions between sponsors and research sites. Our thorough scrutiny of payments detects and rectifies errors promptly, safeguarding the interests of our members. Moreover, our process is entirely transparent. Through our SMO Payment Agreement, research sites understand our fee structure upfront. We act as an intermediary for the invoicing process on behalf of sites, minimizing their administrative burdens and mitigating the risk that revenue may be lost due to an oversight.
We also promptly handle all financial transactions, including invoicing and payment collection for sites. We thoroughly monitor all trial costs, ensuring that sites are compensated for every aspect of the trial as it progresses.
Transparency and integrity are central to our ability to provide value to the members of our research site network. We give our sites access to comprehensive payment information for every transaction, and our personnel are always available to answer queries – usually within one day. Our commitment to open communication fosters trust and confidence, paving the way for long-term partnerships built on mutual respect and collaboration. We are confident in our ability to offer value to our sites. Our performance over thirteen years of operation and completion of over 2,000 clinical trials is a testament to our success in helping our research sites gain quality trial contracts and operate these trials at a profit.
We offer extensive support behind the scenes. Our dedicated specialists provide professional guidance and handle communications, administrative, and accounting tasks, assisting at every step of the trial process, particularly at the start-up stage.
Joining the Elias Research Network is a strategic move for research sites seeking to maximize their trial revenue. Through our services, we empower research sites to capitalize on more trial opportunities and to streamline their business operations, improving their profile among sponsors. If you are interested in partnering with Elias Research Associates, reach out to us today to learn more or fill out an application on our site.