Driving ROI: The Case For Investing In Global Site Payment Services

Biopharmaceutical and medical device companies rely on investigative sites to complete their clinical trials. Building strong relationships with high-quality sites is critical to addressing a number of key challenges, from the growing number of trials to mounting pressures that minimize cycle times. Yet investigative sites consistently express their dissatisfaction with the grant payment process and highlight this as one of their biggest pain points in participating in clinical trials - potentially keeping new sites from entering the industry and tempting existing sites to drop out of clinical trials   due to the threat of slow payments has to their financial viability.   Many sponsors and CROs continue to use standalone spreadsheets and databases to manage grant calculations, increasing financial risk and the probability of error.  Clinical trial sponsors are also facing stringent financial compliance regulations that mandate detailed descriptions of every payment made to every investigator throughout the course of a clinical trial. Gathering and accurately reporting detailed grant payment information is difficult. Yet failing to comply could lead to significant penalties and trial delays.   

The goal of this study and white paper is to highlight examples of the operational and business benefits that can be realized when outsourcing global payment services to a standalone service provider.  The impact of investing in global payment services is not only strategic but also measurable.  Research consisting of six in-depth interviews with DrugDev customers found that DrugDev addressed customer challenges and delivered measurable results and a compelling return on investment (ROI).