Rebadging Gains Momentum Amidst COVID

ABSTRACT

Rebadging also reduces fixed or direct costs for clients, as well as the legal risks associated with using contractors in full-time, long-term engagements. * Employees are assured secure employment, re-assigned back to their original employer (as a vendor contractor) or via new positions within the FSP vendor. * Vendors find rebadging not only an important source of revenue, but also gain broader access to top-level talent, critical for any successful service provider. While FSP models with or without rebadging are ultimately about capacity management, the best vendors deliver wide-ranging value to help the client * retain access to a dedicated team of full-time equivalent (FTE) staff for a broad range of services (data management, medical writing, program leadership, clinical supplies, regulatory, clinical monitoring, statistics, medical, etc.). * increase flexibility, including on-demand access to time and materials (T&M) or unit-based models that can deliver services with work volume that does not require dedicated FTEs. * access additional vendor expert staff from across the globe and shift or centralize services to increase efficiency, reduce timelines and save costs. * accelerate and optimize key HR processes, including hiring, onboarding and training. [...]in the EU and elsewhere, ARD-type regulations are in place to help ensure employers don't take advantage of their employees by offshoring their work or forcing them to rebadge with lower salaries and benefits. [...]joining a successful FSP vendor gives the employees a range of value beyond job security. Vendors The global market for outsourced clinical development services to CROs, including FSP providers, is estimated at approximately US $44.3 billion, and projected to grow to US $57.2 billion by 2024 (CAGR 6.5%).'