Polaris Pharmaceuticals Adopts Medidata Payments
September 20 2016 - 8:30AM
Business Wire
Cancer-Focused Pharma Invests in Medidata
Technology to Automate Clinical Trial Site Reimbursement
Process
Medidata (NASDAQ:MDSO), the leading global provider of
cloud-based solutions for clinical research in life sciences, today
announced that multinational pharmaceutical company Polaris
Pharmaceuticals, Inc. has selected Medidata Payments to streamline
its clinical trial site reimbursement process.
“We chose to partner with Medidata because of its innovative
technology and ability to integrate and automate site payments with
EDC,” said Max Barker, general counsel and VP, finance at Polaris
Pharmaceuticals.
The life sciences industry spends billions of dollars in global
R&D efforts every year, allocating upwards of 40% of clinical
trial budgets to sites. Without modern, automated technologies,
trial sponsors and their contract research organization (CRO)
partners are left struggling with high volumes of invoices and
slow, manual and error-prone data entry systems.
Recently named a 2016 Scrip Awards finalist, Medidata Payments
is addressing an unmet industry need—offering a single, unified
tool that is fit to pay all clinical research sites worldwide and
scalable to use across hundreds of studies. By reducing the
complexities associated with timely and accurate site
reimbursements, Medidata’s end-to-end, EDC-driven solution is
enabling companies like Polaris Pharmaceuticals to spend more time
on cutting-edge medical advancements and less time sorting through
complicated payment terms.
Focused on developing novel therapies in the area of oncology,
Polaris will leverage the powerful, out-of-the-box integration of
Medidata Payments and Medidata Rave® (Medidata’s unified electronic
data capture, management and reporting tool) to automatically
trigger, calculate and disburse investigator payments to its global
clinical trial sites.
Barker added: “Tracking and managing trial costs are key to our
finance team, particularly with multi-site global studies. By
connecting Medidata Rave and Payments, we expect to enable our team
to focus on analyzing trial costs to drive process improvements
instead of spending time requesting and reviewing traditional
invoices. This, in turn, will help our sites get paid faster and
more accurately for all their hard work.”
“At Medidata, we believe that the moment work is completed,
sites should be paid accurately and on time, regardless of their
location, currency or tax implications,” said April Mulroney,
Medidata’s managing director of Payments. “We’re thrilled that
Polaris will benefit from our active, EDC-driven payments
technology, which will help to streamline and provide real-time
visibility into day-to-day payment activities.”
Connect with Medidata
- Read our blog, Geeks Talk
Clinical
- Tweet this: Polaris #Pharma
selects innovative @Medidata #payments solution to streamline
#clinicaltrial reimbursement: http://ow.ly/s12l304mjqW #tech
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Twitter: @Medidata
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About Medidata
Medidata is reinventing global drug development by creating the
industry's leading cloud-based solutions for clinical research.
Through our advanced applications and intelligent data analytics,
Medidata helps advance the scientific goals of life sciences
customers worldwide, including more than 700 global pharmaceutical
companies, innovative biotech, diagnostic and device firms, leading
academic medical centers, and contract research organizations.
The Medidata Clinical Cloud® brings a new level of quality and
efficiency to clinical trials that empower our customers to make
more informed decisions earlier and faster. Our unparalleled
clinical trial data assets provide deep insights that pave the way
for future growth. The Medidata Clinical Cloud is the primary
technology solution powering clinical trials for 17 of the world's
top 25 global pharmaceutical companies, from study design and
planning through execution, management and reporting.
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Medidata:Investor:Anthony D’Amico, +1
732-767-4331adamico@mdsol.comorMedia:Nicole Pariser, +1
212-659-1069npariser@mdsol.com
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