NORWOOD, MASS. – Clinical trial sponsors, CROs and clinical trials sites are quick to seize an opportunity to eliminate time and costs associated with issuing patient reimbursement and stipend checks, according to Colpitts Clinical. Colpitts, which has partnered on over 500 clinical trials in more than 70 countries, reports that 90 percent of its clients adopted our prepaid reloadable MasterCard for patient expense management in the past two years.
“We have seen more than 14,000 transactions totaling in excess of $5M on the reloadable prepaid cards since 2016,” Colpitts Clinical Senior Advisor Alan M. Krensky said. “Our pharmaceutical and biotechnology partners are really looking at ways to improve the patient experience, and on top of that reduce trial costs and time spent on administrative tasks.”
The reloadable prepaid cards allow trial sponsors to request per diem payments for trial participants, so they have money on-hand while attending their clinical trial appointments and they will not have to file extensive paperwork for reimbursement. Unlike the traditional process of check payments, there is no lapse when a patient needs to extend their participation time, as sponsors can immediately request a reload to the patient’s MasterCard. If a card is lost or stolen, remaining funds can easily be transferred to a new card without financial or emotional stress for the patient.
Trial sponsors consistently report patient recruitment and retention as one of their greatest challenges. As many sponsors begin to offer stipends – often referred to as compensation or milestone payments – reloadable cards allow the ability to quickly and efficiently track and process patient stipend payments for US and UK residents.
“Typically, there is a hesitation to adopt a new technology or change a process, but our clinical partners have found great value in utilizing the reloadable cards – both in terms of positive patient feedback and the sponsors’ cost and time savings,” Colpitts Clinical Account Manager, Laurie Rent said.
Informazioni su Colpitts Clinical:
Colpitts Clinical è uno degli unici fornitori di servizi completi di gestione delle spese e dei viaggi dedicati specificamente agli sponsor di studi clinici e ai pazienti. Con sede centrale a Norwood, nel Massachusetts, Colpitts Clinical è una società di Direct Travel e ha uffici in tutti gli Stati Uniti, in Canada e nel Regno Unito. La nostra rete internazionale, Direct ATPI Global Travel, ha uffici in tutto il mondo ed è in grado di fornire soluzioni personalizzate per le esigenze dei suoi clienti del settore farmaceutico, biotecnologico, delle CRO e dei siti.
