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Company News Release
ClinPay Solution Will Manage Complete Financial Lifecycle for Global Trial
, provider of the first end-to-end technology solution that automates the financial lifecycle of global clinical trials, announced today that
to automate investigator payments for a complex, global trial. The trial, known as Study 401, is a multi-center, multi-national, randomized, parallel-group, placebo-controlled, double-blind study of investigational drug NORTHERA™ (droxidopa), an orally active synthetic precursor of norepinephrine, being studied for the treatment of symptomatic neurogenic orthostatic hypotension (nOH).
Already working with a top-ranked clinical research organization (CRO) to manage its clinical development program, Chelsea chose to implement ClinPay for its global study to automate the entire investigator payment process. The company recently announced that it has begun dosing patients and will be screening up to 500 patients across 100 sites throughout the U.S., Canada, and Europe.
“Given the size and reach of our trial, it was important for us to work with a payment solution provider with global capabilities,” said Tim Maness, Senior Director of Finance and Corporate Controller of Chelsea Therapeutics. “The Clinverse team was able to seamlessly integrate ClinPay with our CRO provider and the necessary clinical systems, allowing our CRO to focus their efforts on the important clinical activities required of this trial.”
During the start-up phase, Clinverse will work closely with Chelsea to identify and load each unique site contract across the study’s 100 sites, leveraging ClinPay’s proprietary contract meta language (CML) to automatically convert contracted payment terms into actionable items. In addition, the system’s open application programming interface (API) provides seamless integration with Chelsea’s EDC provider. When data is captured by their EDC system, transactions are automatically triggered in ClinPay and routed to the appropriate approver for payment directly from ClinPay. With these capabilities, sponsors can expect to reduce costs typically associated with the manual efforts of both the sponsor and the CRO required to pay sites and other vendors by as much as 30- 40%.
“Because of the nature of clinical trials and the uniqueness of each trial, Clinverse works closely with our clients to set up, configure, and rigorously test through a full UAT process. Every ClinPay implementation ensures that transactions are configured to reflect the negotiated site contracts and that payments are properly routed,” explained Jeff Rogers, Chief Commercial Officer of Clinverse. “Once ClinPay is live, all the client needs to do is simply leverage the automation that has been established and let technology take care of the rest. ClinPay automates the complete financial lifecycle within the eclinical process, including contract term translation, payment automation, amendment management, accounting, and reporting.”