Revenue Automation Enhancing Operational Efficiencies and Financial Tools for CROs and Clinical Sites
Year: 2025
Type: article
Abstract: This ConV2X 2024 fireside chat delves into the critical financial challenges faced by CROs and sites, including delayed payments, unpredictable cash flows, and the impact of inflation on long-term contracts. Speakers present interesting perspectives between a systems vendor and a lifescience leader. Insights from the Society for Clinical Research Sites (SCRS) highlight the precarious financial position many sites find themselves in—26% of sites have a mere six months of financial runway, while 10% are one late payment away from shutting down. Viewers will gain valuable insights into the current financial landscape of clinical trials, understand the pressing need for operational efficiency, and learn about innovative solutions that can help bridge the financial gaps faced by sites and CROs. This session is essential for anyone involved in clinical research who is looking to improve financial sustainability and operational effectiveness. Speakers discuss: The financial challenges impeding site and CRO performance, with a focus on delayed payments, financial forecasting difficulties, and the impact of inflation. Discuss the role of operational inefficiencies in exacerbating financial stress, particularly in the context of budget negotiations and Clinical Trial Agreements (CTAs). Present potential solutions, including how blockchain technology could revolutionize financial management in clinical trials, providing greater transparency, efficiency, and financial stability. To register for ConV2X 2025, please visit https://conv2xsymposium.com Driving Platforms and Decentralized Tech in Healthcare & Life Sciences September 25 & 26, 2025 | In Person EventThe Foundry101 Rogers St. | Cambridge, MA 02142 Special thanks to the ConV2X 2024 host, Boston Blockchain Week!
Source: Blockchain in Healthcare Today
DOI: 10.30953/bhty.v8.410
Authors: Rama Rao, Enrico Perfler
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4411080544