It's no secret that clinical research sites and workers are under a lot of pressure. Site personnel must handle visit activities, data entry, records, finances, contracts, and more for several trials at the same time, in addition to handling patients and answering calls from PIs, sponsors, and others. It's no surprise that assuring data quality, synchrony, and budget consciousness may be a difficult undertaking.
So, how can we bring order to the chaos?
Introducing the clinical trial management system (CTMS), a site-centric software that helps with trial site management and may help research firms meet the problems of today.
What is a trial site management solution?
A clinical trial site management software like Octalsoft’s CTMS software organizes and streamlines the many parts of research site operations. The top CTMS systems can integrate data from other software and technologies, like EHRs, regulatory eBinders, patient payment systems, and more, in a seamless manner.
CTMS by Octalsoft is redefining CTMS solutions since researchers created it for researchers. A CTMS alleviates the stress of juggling many files and systems by providing visibility and tracking, allowing for high-quality data collection that can support more precise research analysis.
What characteristics enable a CTMS to improve research workflows?
A sophisticated CTMS allows research coordinators and personnel to handle all study visits and activities in one location. It can relieve the pressure of a monotonous job while lowering coordination expenses.
1) Digitize and Organize
Octalsoft trial site management platform uses cutting-edge protocol digitization technology to transform complicated research protocols into easy, automated study procedures. As a consequence, clinical research coordinators no longer need to spend hours manually reviewing complicated procedures in order to organize their study processes in legacy systems.
Octalsoft allows site staff to easily retrieve and reference important visit activities for each protocol and research participant, guaranteeing compliance and safety for every patient and study. Inclusion/exclusion criteria, randomization, and other essential protocol-defined events are all conveniently accessible to research teams.
2) Analyze and Prioritize for Flexibility
It can be challenging for research firms managing a portfolio of studies to examine and implement learnings that improve research site performance. Octalsoft, as an advanced CTMS system, collects critical site performance indicators, allowing teams to discover any backlogs and prioritize their efforts to manage resources effectively.
Metrics such as patient enrollment, deadlines, and milestones may be viewed by research leaders and management across all projects for their site. Instead of wasting time aggregating spreadsheets or merging data from many sources to develop reports for leadership, research administrators may now manage trials and risks throughout the portfolio proactively.
In other words, a CTMS is a powerful tool that allows research teams to identify which elements of research operations require the most attention and modify resources as needed to best support their team.
How is revenue and profit managed and tracked by a CTMS?
Keeping study funds in order is critical to the profitability and effectiveness of research sites. Fortunately, Octalsoft's powerful clinical trial site management solution’s capabilities may assist you in precisely maximizing research income and profitability.
1) Make your pre-award procedure more efficient
Budget preparation and analysis are essential for ensuring that research sites optimize their study payments and budgets from sponsors; yet, this is typically a time-consuming job. This procedure may be considerably streamlined by using financial capabilities within a CTMS that simplify Medicare Coverage Analysis, billing schedule, and budget development.
Octalsoft also includes budget analysis tools that may give deep insights into each study's income and cost drivers, such as assessing how changes in participant enrolment and dropout rates affect the bottom line.
2) Real-time tracking and billing
Real-time tracking and billing for billable activities are crucial to ensuring that sites receive the monies that they worked so hard to negotiate for during the pre-award process. The ability to track and bill for invoiceables and milestones in real-time within the CTMS across both coordinator and financial workflows reduces coordination costs between these teams and enables sites to track and bill for invoiceables and milestones in real time to facilitate accurate and timely payments.
3) Visualize site profitability
With Octalsoft's comprehensive financial reporting dashboards and filters, seeing where your money goes takes on new importance. Apart from swiftly generating numerous perspectives of income, expenses, and profitability, Octalsoft provides simplicity – no more juggling or evaluating multiple obsolete spreadsheets, records, and systems to analyze the financial health of your research or location. With a CTMS that records all revenue opportunities across regular care and sponsor payments, as well as flagging causes of bad debt, you may find your single source of financial truth and eliminate the need for supplementary systems.
How can Octalsoft’s CTMS eliminate redundant tasks?
Time-consuming, redundant, manual activities wreak havoc on research teams' productivity and sanity. Not only that but synchronizing work and data across many platforms and logins adds to the workload of research workers.
Because the Octalsoft CTMS was created with the needs of researchers in mind, it is not only a user-friendly system but it also interacts and integrates seamlessly with top eClinical technologies, allowing sites to utilize their current technological environment. Enabling firms to link their CTMS with systems in which they have previously invested reduces duplicative data input and procedures. As a result of being a one-stop shop for managing all aspects of research operations, an advanced CTMS may optimize data quality and productivity.
While several software solutions have been developed to help simplify various areas of research operations, Octalsoft by Octalsoft is one of the most advanced CTMS software for research sites on the market. Want to know more about how many major and small research organizations are already utilizing Octalsoft to increase the convenience, efficiency, and quality of research? Book a demo with us Now!
