June 30, 2008
MDLOGIX’S CLINICAL RESEARCH MANAGEMENT SOFTWARE SYSTEM: AN EFFECTIVE SOLUTION FOR BILLING AND REGULATORY COMPLIANCE
Baltimore, MD—The mdlogix Clinical Research Management System (CRMS), with its Financial Management module, provides a Web-based software solution to a continuing clinical research challenge by effectively managing billing and regulatory compliance in clinical studies.
“The mdlogix software system helps institutions prevent billing irregularities, comply with audits, and avoid penalties,” said mdlogix CEO Aaditya Goswami. “It will enhance current research efforts by making the research-related billing process much easier to manage throughout the entire research life cycle, including addressing the needs of all involved research and billing staff.”
Institutions must keep track of the clinical trial services for which a sponsor is billed and ensure that these services are not mistakenly billed to insurance coverage providers - including Medicare. This is a complicated process considering the number of studies, subjects, and services that need to be tracked. The mdlogix CRMS is a leader in helping institutions bill correctly to stay in compliance with laws and regulations governing clinical research. Deploying CRMS enterprise-wide at an institution makes compliance both seamless and cost-effective. Researchers benefit from use of the CRMS by increased efficiencies in conducting their research, and at the same time addressing compliance with significantly reduced administrative load.
“CRMS manages the separation of charges between research and standard of care procedures,” Goswami explained. “It handles the billing process from study design to knowing the status of each subject’s events for the research institution.”
Said one client, “One of the biggest issues in financial planning for clinical trials today is failure to capture costs of rendering services and performing procedures. In my experience, when you are able to show the sponsor the component costs of providing a service, they are much more willing to pay. The mdlogix Financial Management module allows you to build a budget that captures this level of detail for every procedure in your trial.
“Additionally, the system is building on the shared experience of a number of people budgeting for studies across multiple departments. Pooling that knowledge is invaluable to educating less experienced administrators in smaller departments where budgeting is just one of the jobs a study coordinator may have to do.”
The mdlogix Financial Management module also allows clients to set up billing milestones and track payments from sponsors. It can tie in with AR/AP systems for a full-circle financial perspective on the trial. The result is being able to look back at a study budget, compare it with the actuals, and determine if the study was a success.
“It will tell us the profitability of our trials across sponsors and provide us with better leverage for negotiating the next time we start a trial,” said a client.
Goswami said, “Our Financial Management module reduces the amount of staff time spent with initial data entry, and will eliminate subsequent duplication of data entry, which is a common problem.”
About mdlogix
mdlogix is a rapidly growing company headquartered in Baltimore, Maryland. It is committed to accelerating clinical research by providing a portfolio of enterprise-level software products and services, focused on its market-leading, caBIG™ Bronze Certified Clinical Research Management System (CRMS). mdlogix has the proven ability to deliver flexible, configurable software products and professional services to world-leading research institutions and organizations. For more information, please visit our company Web site, www.mdlogix.com or call 410-828-8948.