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Financial Follow Up

Invoicing of Sponsor

Inven2 is responsible for the trial account. We We invoice sponsor regularly, based on reported and monitored activity from the hospital or the sponsor. 

From the study account we pay:

  • The hospital for accrued operational trial costs based on invoices
  • Reimburse patients for travel costs
  • ”Pass-through” costs, like extra drug treatment, meals etc.

It is of great importance that all referrals for trial specific procedures are marked with the unique reference number (M-number) as this is used as basis for the department invoice.

Reimbursement of patient travels

A specific form adapted to the study (including the M-number) is developed by Inven2 and sent to the study coordinator. Completed forms are then returned to Inven2, together with receipts and other relevant documents. These forms should be returned to Inven2 on an ongoing basis throughout the trial. Reimbursement of mileage will be reported to the tax authorities.

Accrued assets

All payments from sponsor are allocated to a  study specific account at Inven2. During the course of the study the Hospital is paid for accrued operational study costs based on invoices from the Hospital.  The hospital/investigator can also transfer money from the study specific account at Inven2 to either the hospital or a research fund. Such transfer of accrued assets can be performed twice a year. The Principal Investigator will also receive  bank statements biannually, containing an overview of all account movements and accrued assets.

Finanical closure of study account

When final study activities have been conducted at site, the financial closure of study account is prepared. The Principal Investigator receives a financial report for approval before the account is settled. During the settlement, all involved hospitals departments receive their rightful part of the accrued assets. The remaining accrued assets can then be invoiced to an account owned by the Hospital or transferred to a Research Fund at Inven2.