How Do Site Payments Impact Clinical Trial Sustainability?

By Michelle Ray, Director of Customer Success

In clinical research, the financial stability of trial sites is critical for successful study execution, yet many sites grapple with substantial payment delays, often experiencing accounts receivables 90 days or more past the due date. This financial strain can jeopardize their operational viability and research capabilities. To mitigate these challenges, it's imperative to reassess traditional payment practices.

Shift from quarterly payment terms to more sustainable solutions such as structured study advances or monthly payments. Streamlining payment processes and simplifying contract terms can significantly reduce administrative burdens and enhance payment timeliness. The integration of technology plays a pivotal role in optimizing site payments; platforms like Greenphire’s Site Payments automate invoicing and payment execution, thereby improving efficiency and accuracy. To foster site sustainability, stakeholders must prioritize understanding contract payment triggers, invest in innovative technologies, and promote flexibility in contract terms. The clinical research industry must collectively rethink complex financial processes and embrace innovation to cultivate a more efficient payment ecosystem. For further exploration of these challenges and potential solutions, the SCRS Talks podcast offers in-depth discussions on enhancing site payment practices and ensuring the financial health of clinical trial sites.