Keep Sites Happy with Timely Payments
Sites consistently report that not being paid accurately and on time is a major frustration that distracts them from the trial, negatively impacts relationships with the sponsors, and discourages future trial participation. Sites are often forced to accept challenging terms such as quarterly payments (with 60-day payment terms), large holdbacks and cash flow uncertainty. It’s especially painful for smaller sites and becomes a significant source of anxiety.
Since 2005, DrugDev has solved this challenge for sponsors and CROs with reliable global payments that keep sites happy and focused on your trial.
Unrivaled Global Expertise
DrugDev is by far the industry’s most trusted and experienced global payments provider – and today processes more volume than every other provider and the biggest CROs each year. This enables clients to proactively prevent surprises and leverage our proven best practices learned through unrivaled experience:
- An unprecedented $2 billion processed
- 37 currencies
- 25,000 sites
- 60 countries
- SSAE 16 Type II certified (Deloitte)
Transparent Technology for Sites
DrugDev Spark™ provides absolute transparency into the payments process. Site are able to securely login directly from email notifications, view processing status of individual payments, submit invoices, review historical records in local languages and currencies, and request support from our in-house team. We ensure sites don’t spend time chasing payments so they can focus on working with trial patients.
Financial and Aggregate Spend Reporting
Site payments are the biggest line item on your clinical trial budget and cannot be left to chance. DrugDev technology ensures study teams at sponsors and CROs have complete control over budget financials and aggregate spend compliance (e.g. Sunshine Act, international HCP requirements). Our centralized system features robust reporting with dynamic summary dashboards, detailed records with complete HCP spend activity, financial systems integration, self-reported investigator payment reconciliation, and flexible data exports for further analysis. With DrugDev, the data and reports you need are only a click away.
Clients benefit from DrugDev’s global expertise in optimising the cost of global value-added taxes (VAT). Unless you are extremely familiar with regulations in each country, optimising VAT is a complex and challenging process – meaning sponsors and CROs regularly leave money unclaimed. DrugDev will improve the cost efficiencies of your global trials by leveraging local considerations and eliminating over-payments.
Too often, sponsors are asked to provide huge (and unnecessary) lump sums up front to manage site payments throughout the trial. DrugDev’s flexible financing model enables clients to take advantage of just-in-time funding that maximises cash flow so you have more liquidity to invest your budget to improve other key aspects of your clinical trial program.
How Can We Help You?
See how our leading expertise can help you with a free assessment of your payments process.