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The Research Institute
Research Finance
CommonSpirit Health Research Institute’s Finance team successfully secured funding for 33 new project/study budgets in FY23. The team also managed post award for 265 industry studies and 363 NCORP research studies. In addition to this work they also managed all financial aspects (Budgeting, CRO payments, Site payments, Cash Reconciliation) of the Pivotal IDE trial, which is a physician initiated study at Dignity Health Medical Foundation in California that also has nine non-CommonSpirit sites participating throughout the US.
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Finance Team Collaborates for Success
The finance team’s work involves extensive collaboration with other departments within CommonSpirit, as well as with other research entities around the country. The team’s work with the Contracting Department led to a monthly meeting and a tracking document aimed at improving efficiency for the review of all contracts and budgets.
Among the many improvements made to the financial processes for research activities in FY23 were the establishment of the SignalPath Finance module; improvements to the research billing process; enhancements to the patient stipend (Clincard) process; and creation of a new accounting process for month-end revenue and expense reporting.
