2023 Site Payments and Budgeting Market Trends Survey

This research brief presents findings from a survey conducted by Greenphire, focusing on the clinical trials market and its associated site payments and budgeting processes. The survey involved 189 industry representatives from global sponsors and Contract Research Organizations (CROs), covering various roles in study management, site payments, and clinical forecasting. Key insights reveal that 100% of participants agree on the importance of timely and accurate site payments for maintaining relationships with research sites. Additionally, 90% see value in centralized technology for automating site payments. The survey also identifies challenges in budgeting and fair market value data, with 93% agreeing that lengthy negotiation cycles can harm relationships with clinical research sites. The findings indicate a preference for technology to ease budgeting processes, highlighting that many respondents still rely on manual methods for budget negotiations. Overall, the survey underscores the need for improved efficiency and visibility in the financial lifecycle of clinical trials.