Reloadable Patient Prepaid Cards Reduce Administrative Hassle
Colpitts Clinical has managed over $5 million in trial expenses just in the past year alone. Manage your trial smarter with Reloadable Prepaid Cards that reduce administrative hassle and reassure patients that they won’t be waiting weeks or months for reimbursement.
- Fast: Reloadable Prepaid Cards with per-diems just in time for each visit, or reimbursements
- Efficient: Minimize time between expense submission and approval/reimbursement
Patients receive instructions with their card on where it can be used, and information about what expenses are approved by the trial sponsor. If it’s required that a patient extend their involvement in the trial, we can simply reload their card so there is no lapse in available funds.
Colpitts Clinical now services a number of leading biotechnology, pharmaceutical organizations and CROs. We understand the importance of providing a personal and confidential service to the patients when organizing their travel and expense reimbursement.
CARD BENEFITS
- Accepted in 200 countries where MasterCard is accepted. (small coffee shops and stores may not accept it)
- Cards for patients outside the U.S. have a chip.
- Less expensive than cutting and mailing checks. Cards can be reloaded multiple times with varying amounts. Patients have access immediately.
- 24/7 customer support line to check balances and assist with questions, multiple languages.
- If a card is lost of stolen, the remaining funds can be transferred to a replacement card. Assistance provided by out clinical staff.
NOTE:
For patients outside of North America there is an additional payment solution. We can support electronic bank transfer should a country offer limited service on MasterCard acceptance.
Stipend Management Services
Stipends are separate from per diem/reimbursement expenses and often go by other names, i.e., “milestone payment”, “compensation” and “lost wages.” Stipends are taxable if a participant is paid over $600 in a calendar year.
Colpitts Clinical manages all aspects of these services including:
- Customization for Sponsors for U.S. and U.K. residents
- Collection of each participant’s W9 (for U.S. Citizens).
- Tracking all payments throughout the trial
- Monthly billing
- Stipends are funded on a Reloadable Prepaid Card.
- A 1099 is provided to each participant that received over $600.
