NEW YORK & ELLICOTT CITY, Md.--(BUSINESS WIRE)--The Society for Clinical Research Sites (SCRS) and global clinical trial technology and data analytics leader Medidata (NASDAQ:MDSO) today announced the launch of a clinical trial Site Advisory Group (SAG). The joint initiative aims to further efforts to engage investigative sites throughout the course of a clinical trial, a critical factor in ensuring successful patient enrollment and high-quality data collection.
A key goal of the SAG will be to identify opportunities to accelerate drug development and overcome operational challenges, including streamlining the process used to reimburse investigative sites for their work on trials—a major pain point in clinical research today. According to an ongoing research project conducted by the Clinical Trials Transformation Initiative (CTTI), lengthy delays in payment result in high turnover rates among clinical investigators, with 40 percent of sites dropping out of FDA-regulated clinical trials. This high turnover rate drives up the cost of drug development, with onboarding rates averaging $40,000 per new site. The high turnover also results in sites dropping out of clinical studies altogether.
“One of the most exciting components of our evolving partnership with SCRS is continuing to hear directly from investigators about their specific needs and perspectives on improving clinical trials, now and in the future. We use this feedback to refine our platform’s capabilities and develop solutions to address burdens in the clinical trial process,” said April Mulroney, managing director of Medidata’s site reimbursement technology, Medidata Payments. “Investigative sites are vital to furthering scientific and medical breakthroughs, and we want to ensure that they have the resources and support needed to increase efficiencies, protect patient safety, and ultimately, help get drugs to patients sooner.”
Medidata Payments is addressing the unmet need for modern technology to automate the reimbursement process. Recently named a 2016 Scrip Awards finalist, Medidata Payments is the industry’s only EDC-driven solution that generates accurate payment calculations based on data gathered throughout a clinical study. The solutions’ automatic trigger function takes the calculated payments and feeds them into a disbursement system, sending funds directly to sites upon completion of work and, as a result, accelerates payment cycle times. In addition, Medidata Payments’ advanced global calculation capabilities adhere to desired currency and country-specific tax requirements, further streamlining the payment process by reducing time spent on financial reporting and reconciliations.
“Medidata brings significant industry expertise, technology, data, resources and insights to help drive improved strategic and streamlined execution for clinical research,” said Christine Pierre, President of SCRS. “By encouraging candid conversations that bring together investigative sites, clinical trial sponsors, CROs and other key industry organizations, Medidata is continuing to help ensure that the voice of investigative sites is heard. We’re excited to engage with Medidata to facilitate this important dialogue, and look forward to working together to bring about meaningful change for investigative sites and the industry at large.”
Medidata, an integral member of SCRS’ Circle of Sustainability program, will be a premier sponsor of next month’s Global Site Solutions Summit as well as the inaugural European Site Solutions Summit in early 2017. Glen de Vries, co-founder and president of Medidata, will be a plenary speaker at the Global Site Solutions Summit in Boca Raton, FL on October 13-16. A member of the SCRS Global Impact Board, de Vries will present new insights on how to improve site relationships.
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SCRS is a global trade organization founded in 2012 which represents over 3,000 research sites in 49 countries. SCRS’ mission is to unify the voice of the global clinical research site community for greater site sustainability. SCRS has become an active partner in industry-wide initiatives and dialogues focused on improving the clinical research enterprise. Sites and the companies that sponsor or support the work conducted at clinical research sites will benefit from membership and partnership. Visit MySCRS.org.
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.