The Challenge: A Timely and Accurate Global Payment Process
With clinical trial sites under increasing economic pressure, timely payments from sponsors are critical for keeping sites focused on patient enrollment. However, many sponsors and CROs face delays and avoidable headaches by manually processing complex payment requests and tracking reimbursement calculations with disparate systems.
These activities are error-prone and labor intensive, and make it difficult to track study costs, split payments, or trigger payments based on study milestones – not to mention, they can lead to rising trial costs from site turnover given 40% of clinical trial investigators cite payments as their top concern.[i] Worldwide Clinical Trials faced similar challenges with their payment process related to midstream changes, multiple site payees, and reporting requirements. Over an 18-month search, the company, “set out to rethink and innovate one of the major burdens sponsors have with all clinical trials: paying sites on time,” said Worldwide CFO Anthony Doyle.[ii]
As a top CRO, Worldwide Clinical Trials understood the value of an automated payments solution that seamlessly integrated with their electronic data capture (EDC) solution to trigger, calculate and automatically disburse payments globally when site work was complete. After the extensive review process, Worldwide Clinical Trials saw value in Medidata’s cutting-edge cloud-based payment technology, Edge Payments, as a way to achieve timely payments and maintain the highest level of site satisfaction. Doyle explained, “We analyzed gaps, demoed multiple options, reviewed process improvement opportunities and conducted an in-depth ROI analysis. We vetted our short list and, importantly, planned our rollout and risk mitigation strategy.”[iii]