Contract Negotiations: Negotiating a Research Study Contract

Instructor: Trudy Madan 
Product ID: 702116
  • Duration: 45 Min

recorded version

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Training CD

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Read Frequently Asked Questions

This webinar on contract negotiations will teach contract research organizations a great approach to negotiating contracts with pharmaceutical companies.

Why Should You Attend:

Contract negotiations can be a very daunting task. Each pharmaceutical company uses a different contract than the next and each study also comes with its own contract. This makes it very hard to negotiate because the details are always changing.

In this webinar we will cover the different items that are present in all contracts. We’ll learn which items will need to be revised, and which for the most part can remain in the original context. The recommendations presented in this training can be used by your contract team to create a system that works for them. This will be extremely helpful in saving time and reducing stress.

This webinar will also show the parts of the budget which should be increased during negotiations, and which can remain the same. Because each contract and budget is different from the next, our tips will help you complete the negotiation process with ease. Once you have completed revising the contracts the next step would be submitting them to sponsor. We will cover pointers on how to approach the sponsor with your revisions. We’ll discuss what should be said in the initial conversation or email as well as how to react to the sponsor when they send you their counter offer.

True to the nature of the contracts each pharmaceutical company also negotiates budgets differently. Some are very generous when negotiating budgets while the others refuse to give an increase. Overall this webinar will be full of information and tips that will help make the daunting task of negotiating contracts easier.

Areas Covered in the Seminar:

  • Parts of a contract overview. We will start by better understanding the different parts of the contract.
  • The contract sections that should be revised. We will pick out the consistent parts of different contracts that should be revised.
  • Using a specific rewording technique when revising the contract so that the revisions can be accepted.
  • What to do when the sponsor does not accept your revisions?
  • Review the budget looking for anything that may be revised.
  • Increasing the budget by a certain percentage to increase your total.
  • What to do when the sponsor sends you the counter offer. Whether to accept and move forward or submit your own counter offer?

Who Will Benefit:

This webinar will provide valuable assistance to members of the Contract Department who work with pharmaceutical companies in negotiating contracts for research studies.

  • Clinical Research managers
  • Clinical Research Administrators
  • CROs

Instructor Profile:

Ms. Trudy Madan, holds a Master in Science in Healthcare Administration from Texas Woman's University. Prior to joining Synergyst Research, Ms. Madan was a Senior Executive at various insurance companies and physician organizations. During this time, she negotiated multi-million dollar contracts with national hospitals, multi-specialty physician groups and ancillary organizations. Ms. Madan's particular areas of expertise include physician and hospital contracting, strategic business development, marketing and sales. Ms. Madan has assisted organizations in obtaining NCQA Accreditation. Ms. Madan is also a licensed Agent for Group Insurance and does extensive consulting in the areas of managing Health Benefits and reducing costs. Ms. Madan currently serves on the Boards of the American Diabetes Association, Arts San Antonio and others.

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