Top Reasons to Read This Clinical Investigator FMV and Compensation Benchmarks Report
Promote Transparency by Building an Accurate Clinical Investigator FMV Calculation Process: Average principal investigator compensation can range greatly depending on the physician’s therapeutic area. To provide greater transparency for clinical trial payments, most companies have moved to systems that pay physicians based on the number and complexity of patient visits. The study details how companies use benchmarking to understand the key differences in fair-market value payments for different specialists. It also includes biopharmaceutical partners’ key lingo and clinical investigator activity definitions as well as metrics of companies’ annual compensation limits.
Establish an Investigator Payment Schedule and Keep Trials on Track: Clinical trials are unique by nature. The payment structures that support these investigations also differ greatly from study to study. Although compensation plans may be adjusted to better suit an individual trial, companies have developed several best practices to streamline the payment process. Some of the insights contained in this study focus on the key considerations to building a payment plan for investigator compensation. It also provides ranges and averages of direct costs that investigators often pass through to sponsors.
Organize a Successful Investigator Meeting within Budget: Investigator meetings are opportunities for investigators to become engaged with pharmaceutical companies and their products. Many companies turn to vendors to plan, organize and even run their investigator meetings. To prepare, event planners should build itemized budgets by calculating the cost per attendee. As a result, the number of participants will largely influence meeting budgets. The benchmarking data in this study delves into the critical aspects necessary for holding focused and engaging investigator meetings. To guide companies through these recommendations, the study presents investigator meeting budgets by both trial phase and reimbursed items.
Key Questions This Study Answers About Clinical Investigator FMV and Compensation Benchmarks
- What is the most accurate method for benchmarking and determining clinical investigator compensation?
- What factors impact investigator FMV calculations?
- How much are principal investigators and supporting investigators paid per visit, on average?
- How much should companies expect to budget for direct costs throughout product development? (e.g., IRB fees, patient recruitment, testing and lab fees, pharmacy set-up)?
- How should companies effectively allocate their investigator meeting budgets to cover specific costs?
|Publication Date||August 2014|
|Charts / Graphics||50 +|