The power of ClinPay is embedded in its proprietary transaction engine. ClinPay is capable of managing any term negotiated in a clinical trial agreement and handles any payment event (milestone based, procedure based, visit based, CRF based, etc.) along with differing effective dates. Sponsors, CROs and Investigators are free to negotiate payment terms that are in the best interest of completing the trial in a timely manner and with the appropriate incentives.

How much time do you spend on calculating and tracking Investigator payments? If you are like most Sponsors and CROs, you probably have not focused on the actual amount of manpower consumed. Our research shows that upwards of 3,500 hours per study are dedicated to this process! Trial productivity is compromised as time that should be dedicated to conducting the trial is wasted on calculating and tracking Investigator payments. At the same time, Investigators’ top concern in conducting clinical trials is the payment process. With this much at stake, automation is not only considered a best practice, but it also:

Currently, the length of time it takes for an Investigator to be paid for services is a function the current process. The monitor must go to the site to collect data, send it to the person who manually calculates the amount earned, a check request is generated and sent to finance for approval and check generation. EDC makes the process of gathering site data quicker but the human element remains. With ClinPay, the process is automated from the time data is entered into EDC. Calculation of amounts earned is automated, electronic invoices are electronically sent to the Sponsor and/or CRO for approval and electronic payments are sent to Investigators. Benefits of ClinPay’s automated Investigator reimbursement solution include:

“Where is my payment?” With ClinPay you may never hear that question again. Investigators, along with Sponsors and CROs, are provided real-time visibility into payment status so everyone is always fully informed. With the entire process automated, errors are eliminated, payments are timely and costs are significantly reduced.

ClinPay makes it quick, easy and affordable for organizations of any size to automate the entire Investigator payment process - with minimal resources and no ongoing costs associated with traditional enterprise-wide applications. With just a few hours invested at the beginning of the study, the entire payment process is automated.

That’s it. ClinPay does the rest. With a nightly feed from your EDC system, ClinPay automatically calculates amounts earned and sends electronic invoices to the Sponsor and/or CRO. If you do not use an EDC system, calculation is triggered by simply logging into ClinPay and indicating the visit has occurred. ClinPay does the rest.

Study start-up time is one of the leading causes of delays in clinical trials. ClinPay’s contract management module provides the functionality that allows everyone to have complete visibility into the status of contracts. Study start-up is managed more effectively and the time associated with this process is streamlined.

ClinPay provides organizations with visibility into their Investigator payments, assuring that all corporate policies and government requirements are followed. All organizations – public, private, small or large – need strong internal controls to monitor control and compliance. With increased focus on transparency of payments made to Investigators, compliance has never been more important. ClinPay provides business rules and audit trails to track what the payment was made for and ensure payments are made for services performed. With ClinPay, organizations have the tools to help maximize compliance with company policies and government regulations, including the Sarbanes-Oxley Act.

With robust global functionality delivered online and on-demand whenever and wherever it’s needed, ClinPay efficiently meets the global needs for companies of all sizes, located anywhere in the world with internet access. As clinical trials are becoming increasingly global, the need to pay Investigators in another currency adds an extra burden to an already painfully manual process. ClinPay provides the ability to electronically pay Investigators in over 140 different currencies, regardless of the originating currency. ClinPay makes paying foreign Investigators cost efficient. ClinPay also provides multi-currency accounting in accordance with GAAP.

ClinPay provides organizations the ability to record Investigator, subject and other third party payment activity in accordance with GAAP in a timely manner. ClinPay acts as a sub-module to your general ledger with complete audit trails of all activity. Information is captured according to your business rules and is entered into the general ledger through a GL interface. ClinPay also provides multi-currency accounting in accordance with GAAP as well as the recording and reporting of VAT.

ClinPay’s powerful reporting and advanced Investigator payment data offers visibility into trends around Investigator payments, further enforcing regulatory compliance. ClinPay’s data analysis transforms raw payment data into useful information that helps drive effective decision making. Forecasting becomes easy and provides organizations with vital financial information regarding trial performance, helping them effectively manage budgets.

Seamlessly integrated with ClinPay, ClinDebit eliminates out of pocket costs and manual paper trails for Investigators providing subjects reimbursements for incidentals. Study locations are provided debit cards to distribute to subjects for reimbursements. Upon each subject visit, the card is automatically loaded with the predetermined amount (or amounts can be adjusted with authorization limits set by the Sponsor), removing the Investigator costs and time associated with tracking visits, paying the subject and collecting from the Sponsor or CRO. ClinDebit can be used anywhere Visa is accepted and provides subjects with access to cash via ATM. ClinDebit provides robust audit trails, ensuring transparency and regulatory compliance associated with such payments. ClinDebit also generates 1099’s to be distributed to subjects and interfaces with your general ledger for proper GAAP accounting.