Anthony Doyle, chief financial officer, Worldwide Clinical Trials told us the company set out to rethink one of the major burdens sponsors have with all clinical trials – getting paid on time.
“We considered process, regulatory and technology challenges, and determined our best path forward was to implement a centralized, integrated, dynamic payment system,” he said.
“The system we chose had to be an end-to-end solution, driven by EDC. It also had to support electronic funds transfer, so sponsors can pay sites, in near real time, with remittance advices that detail exactly what activities are covered,” Doyle added.
The CRO spent the past 18 months identifying stakeholders, requirements, and vendors. “We analyzed gaps, demoed multiple options, reviewed process improvement opportunities and conducted and in-depth ROI analysis,” Doyle explained. “We vetted our short list and, importantly, planned our rollout and risk mitigation strategy.”
Ultimately, Doyle said Medidata Payments stood out as it met all the requirements. He also noted the investment Medidata has made in its payments platform over the last year and half.
“We know they are investing heavily in their roadmap and future development, and believe that, in partnership with them, we will have a best of breed solution,” he said.