Change orders. An action sponsors regularly enact that CROs invariably dread. They’re unavoidable and can at times set a trial back. In the past, the industry has sought find ways to lessen the impact of change orders on a business. But is it possible to avoid change orders altogether and is this is a realistic goal?
While on the one hand, the removal of change orders would greatly benefit sponsors, the impact it would have on vendors could be far-reaching and affect the CRO landscape. To lend a bit of perspective, for CROs, a significant amount of their revenue stream comes from change orders (up to 100 percent additional revenue can be generated on change orders alone). Without change orders, CROs would likely miss out on refunds for out of scope work or more studies would be forced to close. There would also be a rise in Time and Material contracts.
So what can be done to mitigate the threat of change orders altogether? [Read more at clinicaltrialsarena.com]