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]
The Solution: Medidata Payments with Global Disbursements
Edge Payments – the industry’s only global site payment cloud-based technology solution driven by an EDC system – provides real-time tracking reports when sites completes their work and quickly and accurately assembles cost data to disburse payments anywhere across the globe.
Worldwide Clinical Trials plans to apply for Edge Payments across a variety of therapeutic areas including neurology, cardiovascular disease, immune-mediated inflammatory disorders and rare diseases. Having already gained accreditation to use Medidata’s flagship EDC solution, Rave EDC, Worldwide Clinical Trials realized the value of the out-of-the-box, simple integration between Edge Payments and Rave EDC.
Edge Payments will further enable Worldwide to transform the CRO experience for sponsors and sites – shortening payment cycle times, increasing accuracy and eliminating hours allocated to reconciliation and reporting.
[i] SCRS Site Solutions Summit. Survey of Investigative Sites in the US; 2013.
[ii] Liu, Angus. 2017, July, 12. Worldwide Clinical Trials Picks Medidata for Site Payments after 18-month search. Fierce Biotech.
[iii] Fassbender, Melissa. 2017, July 12. Worldwide Clinical Trials taps Medidata for payments solution. Outsourcing Pharma.