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Overview

Typically there are both study and subject-related fees to be managed.  Below StudyTRAX handles financial management-related data in the same manner as all other data points.  In other words, there is not a formal concept of financial data in the application.   However, the breath of functionality available in StudyTRAX makes it a reasonable option the financial management.  Below are guidelines and considerations with regard to determining whether the financial management capabilities of StudyTRAX would work for your group. 

Subject Level Fees:

Invoicing and Internal Reporting Needs (Per Visit and Across Visits)

While none of the responses to the questions below diminish the feasibility of utilizing StudyTRAX as a financial tracking component, it will better gauge the custom development needs.

1. Will study fees be tracked based on the patients collection schedule only?  Will there be a chance for unscheduled event fees?  ( e.g. Adverse Events)
2. Will invoicing be needed at the individual visit (and/or) as a summary across visits?
3. Will invoicing need to be rolled into a select number of visits?  (e.g. visit 2 3 and 4 only, for a study that includes a total of 8 visits)
4. Are there a large number of study events universal to each new study initiated?  If not, how much variety in study related events are possible.
5. Is it common for study event fees to vary across studies?
6. Is it common for study event fees to vary between intervals?

Financial Event Tracking Form (Per Visit and Per Patient)

The following questions will help determine the customization necessary for study-event fees and pertinent data collection.

1. Are there any "one-time" per-study fees applicable from one patient to the next?
2. Will there be a pre-determined stipend for patients involved in the study, or will patient stipends vary at each individual visit?
3. During the collection process, will any one study event fee need custom modification at the time of the visit?
4. During the collection process, will study staff hourly rates and fees be collected.  Will the fees be variable at any time during the study or across studies.

Study Level Fees:

Setup Fee Form, Sponsor invoicing and Reporting Needs (Per Study and Across Studies)

The following questions will help determine the customization necessary for per-study setup fees and pertinent data collection.

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Determining The Fit:

In big-picture terms, the IDEAL conditions for the use of StudyTRAX to manage financial data are: 

• The total number of standard core fees to be tracked is about 150 or fewer items, not including occasional items here and there that are not a part of this core set.
• Study-related fees (e.g., IRB review) and subject-related fees can be invoiced separately.
• For any given study, the fees remain the same throughout the entire study and, relatedly, the fee for a given item does not vary across subjects.

The types of requirements that DO NOT fit well for using StudyTRAX for managing financial data are:

• A need for budget projections.
• Milestone tracking and reporting.
• A need to integrate fees with a separate financial management system.

For additional discussion about whether managing financial data would work for your please, please contact StudyTRAX support staff ( support@sciencetrax.com ).