Drug and device companies must conduct clinical trials when pursuing breakthrough research in the medical field. Clinical trials are vast undertakings, and when research sites pursue contracts with the sponsors of these trials, they must assess how to obtain the best budgets for conducting the trial. Helping sites achieve exceptional trial budgets is one area where Elias Research excels.
Elias Research Associates is an experienced study management organization (SMO) with over thirteen years in the clinical trial industry. Elias works on behalf of clinical research sites to provide comprehensive administrative expertise and support, enabling the sites in our network to operate efficiently and profitably. We have executed over 2,300 contracts for our extensive network of sites.
The sites in our network benefit from the services we provide by streamlining their operations in three areas: business development, contract negotiation, and administrative efficiency. By taking full advantage of the operational efficiencies we provide, our clients can obtain optimal trial budgets.
Benefits of Working With Elias
Business Development: Finding the Right Trials
One of the foremost challenges for research sites is attracting sponsors and Clinical Research Organizations (CROs). No matter how effective your site’s operations are, capturing trial opportunities requires expending resources to develop the right contacts and leads. Elias can help sites by acting as an intermediary.
With a proven track record of success in effectively managing clinical trials, Elias Research Associates has access to many sponsors and CROs seeking trial partners. By joining Elias’ network, sites can access a wide range of trial opportunities. Elias works diligently to match its sites with suitable opportunities. This advantage alleviates the requirement of sites to invest significant resources in business development and expend effort pursuing trials that may not be an ideal fit for their capabilities.
Contract Negotiation: Comprehensive Coverage of All Costs
The negotiation table can present difficulties for research sites, especially those with limited experience and resources. Elias Research has over a decade of experience assisting sites to negotiate contracts for research trials. Sites can be confident that Elias will meticulously detail every cost, ensuring that a contract budget does not overlook any aspect of the trial. Moreover, Elias is careful to stay current with prevailing market costs for all budget line items, including:
- Investigator fees
- Study coordinator salaries
- Supportive services such as laboratory testing, imaging, and data management
- Patient recruitment costs, such as study advertising, pre-screening, screening, and enrollment
- Facilities and equipment
- Site overhead costs
Elias’ expertise in this area is significant given ongoing concerns about inflation and economic volatility; Elias can document and support anticipated and contingent costs for budget line items. Being transparent reassures sponsors and CROs that the research site’s trial operations are thorough and competent and protects sites from absorbing costs missed through oversight or error. In addition to financial elements, Elias will also carefully review all other aspects of the contract to protect the interests of the trial site.
Research Trial Management: Economic Efficiency
Given the complexities of conducting a research trial, the need to execute administrative tasks promptly and competently can often overshadow the core mission of managing a trial. Moreover, many sites experience challenges in hiring and retaining administrative staff to oversee trial start-up, management, and financial tasks such as billing and follow-up.
When sites work with Elias Research, many of those concerns dissipate. By delegating vital administrative tasks and financial responsibilities to Elias Research Associates, sites can focus on their primary research functions. Drawing upon its considerable experience and expertise, Elias Research Associates introduces efficiencies that individual sites often cannot achieve, offering cost-effective solutions for sites in trial management.
Streamlining Operations to Obtain the Best Clinical Trial Budgets
By partnering with Elias Research Associates, research sites can confidently navigate the complexities of trial management, successfully covering their costs while earning a profit as they help pharmaceutical companies achieve medical breakthroughs.
Working with Elias can revolutionize the way research sites obtain optimal trial budgets. By streamlining their operational costs with respect to business development, contract negotiations, and financial management, they enable sites to offer sponsors and CROs efficient and cost-effective trial solutions without compromising their bottom lines, promoting success for both themselves and their trial sponsors.
If you are interested in becoming a member of the Elias Research Associates network of research sites, please fill out an application. Once approved, you will be able to unlock a world of possibilities for increasing opportunities and obtaining optimal budgets for your research site. For more information about our services, contact Elias Research Associates today.