Medidata Payments Wins Scrip Award for Best Sponsor-Focused Technological Development in Clinical Trials
December 05 2016 - 8:30AM
Business Wire
Medidata (NASDAQ:MDSO) is pleased to announce that its global
site payment technology, Medidata Payments, was recognized as the
2016 “Best Technological Development in Clinical Trials – Sponsor
Focused” by SCRIP Intelligence (“SCRIP”), the leading news, data
and intelligence service for the global biopharmaceutical
industry.
“Our judges felt that Medidata Solutions’ Medidata Payments was
a worthy winner of the Best Technological Development in Clinical
Trials – Sponsor-Focused Award, which is designed to reward
innovation in platforms that improve the conduct of studies for
their sponsors,” said Mike Ward, global director of content for
Informa Pharma Insights portfolio. “Medidata Payments is the first
end-to-end site payment technology that automatically calculates,
triggers and disburses payments to investigators in real time. It
removes the need for time-consuming, error-prone payment processes
that can damage relationships with study sites, thereby reducing
turnover rates. Our judges felt that the technology brought great
benefits to what is seen as a huge challenge across industry.”
Presented to Medidata at the 12th Annual Scrip Awards on
November 30, 2016, in London, the award celebrates excellence and
innovation in the biopharmaceutical industry and a continued
commitment to improving healthcare on a global scale. A panel of
judges—comprised of independent, senior industry experts from
around the world—evaluated a record number of submissions across a
wide range of categories, announcing a shortlist of finalists
earlier this year.
“Payment for clinical trial work is often plagued by slow
reimbursement, calculation errors and inaccurate payments, putting
financial strain on investigative sites. Today, approximately 40
percent of sites drop out of FDA-regulated clinical trials because
of this and the high turnover rate is driving up the cost of drug
development—with onboarding rates averaging $40,000 per new site,”
said April Mulroney, managing director of Medidata Payments.
“Medidata Payments provides a truly scalable solution to these
problems, helping to speed up study timelines and keep trial sites
productive and engaged. We’re honored to accept this award from
SCRIP and proud that leading pharmaceutical companies and CROs are
using our Payments technology to increase efficiency and, in doing
so, power innovation that accelerates drug development and hope for
patients.”
An integrated component of the industry-leading Medidata
Clinical Cloud®, Medidata Payments is the only electronic data
capture (EDC)-driven site payments solution that generates global
payment calculations in a scalable way. The solution accommodates
multiple currency payments and reporting capabilities, as well as
country-specific tax requirements, and sends timely funds directly
to sites upon completion of work.
“SCRS congratulates Medidata on their recent Scrip Award,
recognizing their innovative platform for facilitating site
payments,” said Christine Pierre, president of the Society for
Clinical Research Sites (SCRS), a trade association representing
the clinical research site community. “Medidata understands the
pain points sites face and has worked collaboratively, with SCRS
and life sciences companies worldwide, to provide a solution to a
top risk to site sustainability. Financial security is required to
retain experienced sites in clinical research and bring new
treatments to patients faster, which is why, on behalf of all
sites, SCRS thanks Medidata for taking on this challenge and
identifying solutions.”
Connect with Medidata
- Read our blog, Geeks Talk Clinical
- Tweet this: .@PharmaScrip names
@Medidata #Payments the 2016 "Best #Tech Development in
#ClinicalTrials" http://ow.ly/DqON306NWXN #ScripAwards #pharma
- Follow us on Twitter: @Medidata
- Find us on LinkedIn
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 nearly 800 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 SolutionsInvestor:Anthony D’Amico,
+1 732-767-4331adamico@mdsol.comorMedia:Nicole
Pariser, +1 212-659-1069npariser@mdsol.com
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