As Associate Director of Clinical Vendor and Program Management, Daniel Gay-Betton oversees 60 site investigators across one phase 3 and one phase 4 clinical trials. As these complex trials progressed, multiple issues emerged that made efficient and effective financial management nearly impossible.
"Nearly impossible to accurately substantiate and accrue payments"
First, clinical studies were not being closed out efficiently, and invoices were coming in late from sites’ understaffed finance teams, leading to data lags and delays.
Secondly, data reporting from vendors was both insufficient and untimely, further complicating the situation.
Together, these issues made it extremely difficult to accurately substantiate and accrue payments for investigators and sites. And as a result, TG Therapeutics carried a significant accrual on their books – from 6 months to up to several years.
It was clear to Daniel and the team that they needed a better way to manage their relationships with clinical sites and reconcile their balance sheet.
The need for a streamlined, accurate, and timely payment processes was urgent to comply with financial obligations and mitigate risk exposure. With Auxilius, TG Therapeutics realized that they could proactively generate invoices using the Auxilius investigator suite. They were also determined to maintain positive relations with their site partners through timely, accurate payments.
To accomplish this, TG Therapeutics collaborated with Auxilius on a multifaceted solution:
1. Process and Procurement Refinement
TG Therapeutics overhauled its procurement and contracting process in collaboration with Auxilius. This resulted in a restructuring of their procurement process, providing full visibility into R&D spend. These new processes, enabled by Auxilius, mitigated large outstanding balances, reduced cash flow problems for sites, and enhanced SOC compliance.
2. Auxilius Investigator Intelligence Suite
The Auxilius Investigator Intelligence suite provided TG Therapeutics with enhanced analytics and reporting on site activity well above and beyond the current state. Not only did the added visibility improve decision-making, but TG could even start issuing auto-generated invoices based on transaction data pulled from Electronic Data Capture (EDC) systems.
This automation ensured transparent, timely, accurate payments, and replaced the manual, error-prone processes that had frustrated sites and CROs alike.
TG Therapeutics’ partnership with Auxilius yielded transformative improvements in payments accuracy and efficiency:
TG Therapeutics, Inc. was founded with one goal in mind: To leverage scientific advances in B-cell biology to develop novel, non-chemotherapy medicines for patients with B-cell diseases, specifically autoimmune diseases. They currently have two phase 1 trials underway.
