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TTC Standard of Care Significantly Reduces Payment Overlap
TTC Standard of Care Significantly Reduces Payment Overlap
Foremost TTC’s Standard of Care™ Tool Provides Key Benchmarking Analysis
Philadelphia,
PA,
United States of America
(prbd.net)
13/01/2012
PHILADELPHIA--(BUSINESS WIRE)--News Facts:
* Substantial Unnecessary Spending: Over $6 billion will be spent on clinical grants with US sites conducting commercial clinical trial research. A review of 150 studies across a range of therapeutic areas demonstrates that over 20% of that figure should be covered by third party payments as part of standard of care treatment
* Exclusive: TTC’s Standard of Care is the only tool available that provides current information on what standard of care procedures entail.
* Web accessible: One mouse click highlights all Standard of Care procedures in your protocol.
* One-stop shopping: TTC’s Standard of Care enables users to identify which of the protocol’s visits and procedures are within the standard of care claims.
* Cost efficient: TTC’s Standard of Care helps you achieve cost savings by reducing payment overlap from sponsor and third party payers.
* Time saver: Reduce your effort and time in gathering standard of care information with TTC’s Standard of Care.
* Data rich: Negotiate Fair Market Value payments to investigators with confidence using objective TTC Standard of Care data on how sites actually treat patients within the standard of care.
Professor Harold E. Glass, Ph.D. (TTC Principal):
The issue of fair market rates is immensely important to those engaged in managing clinical studies. Many states, and the NIH, now require that clinical trial sponsor companies cover standard of care payments in their clinical trials. And with over 20% of clinical trial procedures covered by standard of care practices, the industry is paying out nearly $1.5 billion in US clinical grant agreements that lend themselves in some fashion to payments by third party payers. Moreover, compliance and fair market payment issues are becoming more pronounced as they related to standard of care payments. TTC’s Standard of Care, which tracks annually about one billion medical claims submitted by physicians and 200 million claims submitted by hospitals and clinics, eliminates the guesswork and gives clinical trial managers the confidence that they are using their clinical grant dollars cost effectively.
Ying Jiang (TTC Director): TTC’s Standard of Care data reassures public officials and the general public that clinical investigators are being compensated at fair market rates. We derive TTC’s Standard of Care from HIPAA compliant, de-identified, third party medical reimbursement claims across various third-party insurance providers, Medicare and Medicaid. This database covers approximately 70% of reimbursed care in the US.
TTC Overview
Founded by Dr. Harold E. Glass and other principals, TTC provides drug development organizations with state of the art cost benchmarking tools and analysis. TTC’s management team is unique in the industry experience it brings to the issues of drug development cost benchmarking. The TTC principals have been at the forefront of benchmarking innovation since founding the first drug development cost benchmarking company in 1990. They have been involved in all aspects of outsourcing cost management, from the selection of vendors, to the budgeting of protocols and CRO projects, to the negotiations with clinical sites and other providers. TTC combines a strong financial base, an international outlook, and a proven customer focus to help industry professionals understand and manage both the costs and speed of drug development.
For further information visit http://www.ttc-llc.com or call us at 215.243.4103
About
TC is the leader in global clinical trial cost benchmarking. In fact, we invented it. In 1990, TTC principle, Dr. Harold E. Glass founded the first drug development cost benchmarking company in the world. Today, 10 year old TTC, with offices in Philadelphia, Pennsylvania and London, England has a proven track record in all aspects of outsourcing cost management; from the budgeting of protocols and clinical trials to the negotiations with clinical sites and other providers.
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