Seeking Site Payments Providers
Worldwide Clinical Trials chooses Medidata for site payments after long search
Medidata – which claims to be reinventing global drug and medical device development by creating the industry's leading cloud-based solutions for clinical research – has signed an agreement to manage site payments for Worldwide Clinical Trials. The deal came about after Worldwide spent 18 months going through all leading site payments providers in order to make a decision.
As Anthony Doyle, chief financial officer of Worldwide Clinical Trials, explained, “We set out to rethink and innovate 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 — one that can accommodate midstream changes, multiple site payees, easily accessible consolidated and aggregated reporting —including government reporting requirements.”
Medidata claims that its cloud-based payments product is the industry’s only global site payment technology powered by electronic data capture (EDC). It can automatically begin payment calculation the work is complete at a given site and disburse payments directly to the bank account of the site.
Using advanced applications and intelligent data analytics, Medidata attempts to “advance the scientific goals of life sciences customers worldwide, including more than 850 global pharmaceutical companies, innovative biotech, diagnostic and device firms, leading academic medical centers, and contract research organizations,” according to company literature. The Medidata Clinical Cloud® is the primary technology solution powering clinical trials for 18 of the world's top 25 global pharmaceutical companies and is used by 18 of the top 25 medical device developers—from study design and planning through execution, management and reporting, the company said. Currently, 20 clients are using Payments in studies in 51 countries, according to Medidata.
Medidata claimed that its cloud-based payments product is the industry’s only global site payment technology powered by electronic data capture (EDC). It can automatically start payment calculation once the work at a site is complete and disburse payments directly to the bank account of the site. Through its cloud-based services for clinical research, Medidata has developed relationships with 850 biopharma and medtech companies, academic research organizations and CROs.
Worldwide, which employs more than 1,400 professionals around the world, with offices in North and South America, Eastern and Western Europe, Russia and Asia, expects to apply the system to studies in a variety of therapeutic areas, including neuroscience, cardiovascular diseases, immune-mediated inflammatory disorders and rare diseases. Founded by physicians committed to advancing medical science, Worldwide hopes to change the way the world perceives CROs. It works with companies from early phase and bioanalytical sciences through late phase and post-approval for drug development services. Operating in 60 countries, the company said it provides “predictable, successful studies with operational excellence across a range of therapeutic areas.” Worldwide describes itself as “the Cure for the Common CRO.”
The payments solution is fully compatible with Medidata’s EDC and clinical data management system Medidata Rave. Worldwide has already gained accreditation to use that system, along with two other Medidata products, medical coding software Coder and source document verification method Targeted SDV.