Author: ClinEdge Staff
Invoicing can be time consuming, and is often put on the back burner, that’s why it is so important to do it right the first time around. But how do you know who to invoice, what to include, and when to send? This blog outlines exactly what you need to know regardless of who is on the receiving end.
When invoicing, you first must ask yourself, “Am I emailing this invoice to a study team or uploading to a portal?” “Am I emailing this directly to a specific person, or a general payment team?” Who are you invoicing, and how do you find the answer?
It’s time to go back and review the contract, as it should specify exactly where the invoices need to be sent. When sending via email, it is important to ensure you have the necessary information - contact name, email address, etc. If they are to be uploaded through a portal, first confirm that all documents are in order to ensure that you have access before the study begins. This access will allow you to upload invoices, view payment details, and more. In the event that invoices are to be sent directly to a payment team, be sure to ask for a specific contact within the team during the negotiations. Having a specified person to act as your direct contact within the payment team will provide you with additional support and faster responses.
So you’ve figured out who you’re invoicing, but what should you be sending them? Let’s start with the basics - all invoices, regardless of where they are going, require 3 things: the inclusion of your site name, the PI name, and description of a reimbursement or revenue item. Some invoices will require additional information such as the site number (this can be found within the CTA, before executing an agreement, if applicable, confirm the number was provided), a PO, or applicable backup information. When possible, include all of the above information and not only what is required.
When invoicing for reimbursable items, make sure you’ve held onto all third party receipts, as they will likely be required for payment. If in fact, they are required, be sure to remove all patient identifiers prior to sending to the Sponsor/CRO.
But when should you invoice? Great question! Be sure to review the contract for specific timing, otherwise you should plan to invoice for startups at the beginning of the study, contingent items can be invoiced as they occur, and closeouts should be invoiced at the end of the study.
Don’t forget to follow up!
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