There’s a reason so much has been written on the art of negotiations. It truly is just that – an art. Many people work on it for years. Fortunately, it is also a skill that can be learned, and when basic principles are applied, can lead to better outcomes.
One of the most basic of principles is preparation. It can mean the difference between a positive outcome and an unfavorable one. A good negotiator can immediately gain an advantage by designing an action plan before ever entering into negotiations.
When preparing to negotiate a clinical trial agreement, keep these preparation tips in mind:
- What is the history of the trial?
Ask the sponsor for as much information as possible to ensure you know the full history of the trial and can make better decisions about what it will require of your site.
- What kind of documentation do you have?
If you have proof of metrics such as previous enrollment goals being met or a low number of deviations, it can make it easier to negotiate for what you want.
- What is your definition of an enrolled subject vs. the sponsor’s definition?
Make sure that you understand all terms in the agreement so that discussing these items is clear to both you and the sponsor.
- What questions can you answer confidently?
Prepare a list of questions that you anticipate the sponsor will ask so that you can formulate a clear, concise answer to them ahead of the actual negotiation.
With proper preparation, you can build your leverage and increase the odds of achieving a win-win situation.
Want to learn more about negotiating clinical trial agreements? Download the eBook, “Negotiating a Stronger Clinical Trial Agreement and Budget.”