SIMPLIFY AND SPEED UP PARTICIPANT PER DIEMS OR REIMBURSEMENTS WITH COLPITTS CLINICAL’S RELOADABLE VISA CARD
Colpitts Clinical has successfully managed over $5 million in trial expenses in just the past year. Enhance the efficiency of your trial with Reloadable Visa Cards that minimize administrative burden and provide peace of mind to participants who won’t have to wait for weeks or months to be reimbursed.
Participants receive per-diem payments or reimbursements via Reloadable Visa Cards, sent by Colpitts Clinical. Patients receive clear instructions on how and where to use their cards, as well as information on which expenses are approved by the trial sponsor. In case the participant involvement in the trial is extended, their card can easily continue to be credited with any prepaid per diems or expense reimbursements allows by the study. Colpitts Clinical provides a personal and confidential service to patients when organizing their travel arrangements and compensation. We work with a number of leading biotechnology, pharmaceutical companies, and CROs and understand the importance of keeping sensitive information protected.
BENEFITS OF USING THE RELOADABLE VISA CARD
- Available for use in over 200 countries where Visa is accepted.
- Reloadable Visa Cards are valid for 5 years.
- No monthly fees.
- Featuring a chip and requiring only a signature, these cards provide a secure and convenient option for patients.
- More cost-effective than traditional paper checks, Colpitts Clinical’s Reloadable Visa Cards can be loaded with varying amounts and allows patients immediate access to their funds.
- 24/7 mobile access and customer support in multiple languages are available to help patients check balances and answer any questions they may have.
- Colpitts Clinical’s Expense Coordinators manage our Reloadable Visa Cards and in the event of a lost or stolen card, patients contact Colpitts Clinical’s Expense Coordinators for support. Our Expense Coordinators can quickly issue a new card and transfer any remaining funds to the replacement card.
NOTE:
For patients located outside of North America and the EU, an alternative payment solution is available in the form of electronic bank transfer for countries where Visa acceptance is limited.
Stipend Management Payments
- Stipend: A patient is being paid for participation (i.e. milestone payments, compensation, lost wages, etc.); this is not the same as per diems or reimbursements for patient paid expenses. Stipends are considered taxable in the U.S. if the participant receives $600 or more in a calendar year.
- Colpitts Clinical offers comprehensive stipend management services, including:
- Customizable solutions for sponsors for U.S. citizens
- Collection of W9 forms from patients
- Tracking all payments throughout the trial
- Monthly invoicing of stipends with payment details
- Crediting stipends on a Reloadable Visa Card
- Issuing an U.S. IRS 1099 form to each participant who received over $600 in stipend payments.
