ClinPay’s open application programming interface (API) provides seamless integration with existing external systems, such as the EDC system used by Naurex and other biomedical firms. When data is captured in the EDC system, those clinical activities are matched to relevant contract terms in ClinPay, triggering payment transactions, which can be reviewed online and then automatically routed for payment. Clients also rely on reports directly from ClinPay to help complete month-end accounting. ClinPay’s fully validated accounting system also provides automated GAAP standards and compliance, automated contract amendments, and full audit trail capabilities.
“In the past, our old system required an 8-10 hour manual process on a monthly basis to reconcile payments,” noted Schulz. “With ClinPay, at the simple push of a button, a report is generated which shows how much we owe each site. What used to be a cumbersome process has been streamlined to a 5-minute process, providing us with definitive results that show our real-time, true liabilities.”
ClinPay’s patent-pending contract meta language (CML) converts contracted payment terms, regardless of complexity, into actionable items triggered by clinical activity, without further programming required. With these capabilities, sponsors can expect to reduce costs and manual efforts required to pay sites and other vendors by as much as 30-40% or more.
“The ability to pay our sites accurately and more frequently, even when managing very complex payment terms and guidelines, has changed our site relationships for the better,” said Kamran Alam, Director of Finance at Naurex.
Based on the success of the ClinPay implementation with the current Phase II trial, Naurex plans to use ClinPay in an upcoming Phase III trial.
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