Clinical Trial Budget Specialist

4 weeks ago

Southfield, United States Revival Research Institute, LLC Full time

Unique opportunity to make an Impact in the healthcare industry… 

Revival Research Institute, LLC was established in 2015, and headquartered in the Metro Detroit Region, and has been growing ever since. Revival now has a national presence in the Metro-Detroit Region, Texas, Illinois, and Arizona. We have been nationally acknowledged for our diligence to provide the highest quality of data for our clinical research trials.  

As Revival Research Institute is growing, we are looking to add more qualified professionals to our team, who are looking for an opportunity to grow and learn with us.  

We are seeking a full-time Clinical Trial Budget Specialist. The ideal candidate is someone with a strong interest in the Clinical Research field with experience in phlebotomy would be an excellent fit for our entry level position, with room to grow.  As our ideal candidate is an individual who is detail orientated, being able to maintain organized records, as well as someone who is motivated to learn new things, as our company is always growing and expanding into new therapeutic areas. We are looking for individuals that want the opportunity to learn and grow with us.  

Clinical Trial Budget Specialist  here at Revival Research Institute, should be genuinely respectful of diverse points-of-view and strive for an environment in which inclusiveness drives productivity and results.

  • Task Objective: Craft and finalize Excel-based clinical trial financial plans in collaboration with trial sponsors for Revival Research-operated studies, ensuring an initial budget proposal is shared with the sponsor within 5 business days following the acquisition of sponsor details.
  • Study Documentation Review: Conduct a thorough assessment of clinical trial protocols and supporting study materials, including budgets, contracts, consent forms, pharmacy and lab guides, among others.
  • Budget Development for Sponsors: Pinpoint CPT codes applicable to participant-related expenses, such as the time spent by Investigators and staff, along with procedures. Utilize resources like Medicare platforms for the valuation of services and procedures.
  • Identification of Additional Costs: Determine extra billable costs, encompassing study initiation and conclusion fees, protocol modifications, participant reconsent, monitoring charges, participant stipends, and expenses related to staff travel and mileage.
  • Budget Planning for Sites: Recognize tasks to be carried out by the site investigator and team, craft budgets for sites, and propose payment conditions.
  • Communication and Negotiation: Participate in periodic online discussions with sponsors, investigators, study coordinators, and Revival Research to verify study specifications, tackle budget inquiries, and discuss budget and payment arrangements.
  • Consultation: Engage in meetings with Adaptive Research Accountants to address budget-related queries as required.
  • Standard Fee Schedule Development: Contribute to the creation of standardized fee schedules.
  • Clinical Trial Schedule Assistance: Support the creation of a clinical trial event schedule within a Clinical Trial Management System (CTMS) if needed.
  • Coverage Analysis: Execute a meticulous coverage analysis concerning research procedures following CMS regulations. Aid investigators in classifying study status under Medicare coverage guidelines, identifying services as either non-covered for research only, routine care, or investigational items and services, including associated cost tiers.
Minimum Requirements
  • Educational Background: Possession of a Bachelor’s degree in healthcare administration, science, business, or a closely related discipline.
  • Experience Requirement: At least three years of relevant experience in coverage analysis and clinical trial budget development.
  • Certification Preference: A preference for candidates with coverage analysis certification, such as ACRP or SOCRA (CCRS, CCRP).
Skills and Competencies
  • Necessary Skills: Exceptional skills in communication, organization, analysis, and the use of Excel, including the ability to create advanced spreadsheets.
  • CPT Code Identification: Competency in identifying CPT codes for study-related procedures and visits, and in pricing these procedures using Medicare or other reference sources.
  • Efficiency and Confidentiality: A strong sense of urgency in completing budget estimates quickly while maintaining strict confidentiality.
  • Preferred Experience: Experience in budget creation within a Clinical Trial Management System (CTMS), with a background in Accounting and/or Finance. Previous roles as a research study coordinator or financial specialist in a healthcare environment are also preferred.

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