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04/2015 FACT SHEET
Medidata Payments
The Value of
Medidata Payments:
Automated site payments.
Making timely, accurate site payments doesn’t have to be a headache. Medidata
Payments—a technology that automates the clinical site payment workflow—can
process high volumes of invoices and complex payment requests to sites across the
globe quickly and accurately. With Medidata Payments you can process payments
60 percent faster than legacy methods because our built-in automation eliminates
duplicative data entry and burdensome workarounds.
Paying clinical sites for their work and costs incurred is a critical part of any study.
Your sites rely on you to get the site payment process right. Life science companies
that are able to consistently pay sites quickly and accurately have a distinct
advantage. Using the latest payment technology can help. With Medidata Payments
you can automate payment setup, calculation, approval, and reporting. Here’s how:
Simple Setup
Calculate & Approve
Reporting
Sites
Generate costs
Remittance letter
Contract costs
Calculate payments
Forecast costs
Payees
Request payment
Track accruals
Integrations
Approve by finance
Transparency reports
Setup: Simple, configurable integration between Medidata Payments and EDC
systems allows for easy payment setup by the end user, with no engineer or technical
expertise needed. Additionally, to streamline the final payment disbursement, our
technology integrates with your ERP or general ledger system (or standard exports
can be used when needed).
Calculate & Approve: Events logged in your EDC system generate costs in Medidata
Payments. These trigger line-item costs to be assembled into a payment, which is
calculated based on your desired global currency. Our technology automates cost
generation and calculation by:
• Subject visit-based payments
• Subject procedure-based payments
•Holdbacks
• Splits (to different payees)
The system’s workflow supports quick approval by your finance team.
Medidata and other marks used herein are trademarks of Medidata Solutions, Inc.
All other trademarks are the property of their respective owners.
Copyright © 2015 Medidata Solutions, Inc.
Save time with automated payment
processing. Stop wasting time
performing unnecessary steps or
using complex workarounds. Our
payment automation allows our
clients to eliminate 60 percent of
their work.
Improve data quality using our data
feeds that pull from other systems.
Eliminate manual data entry and
prevent the introduction of errors.
Our payment technology pulls in data
from other systems such as EDC or
budget and contracting technology
and then pre-populates that data into
calculations and reports.
Lower cost with built-in
integrations. The cost of maintaining
integrations between your payment
technology and other systems
can add up. Medidata Payments
plugs directly into Rave and Grants
Manager, and can be connected to
any other EDC system, interactive
voice/web response system or
clinical trial management system.
At setup, built-in integrations
reduce validation time and data and
hardware migration time, compared
with custom integrations. The cost
of maintaining them over time is
low because every new release of
payment technology comes with
the necessary enhancements to the
integrating layer.
04/2015 FACT SHEET
MEDIDATA PAYMENTS
Reporting: With Medidata Payments you can automate reporting, including
pre-populating remittance letters. The system also supports forecasting costs,
tracking accruals and reporting costs needed to comply with the Sunshine Act and
international transparency regulations.
The Medidata Rave® advantage:
EDC is a rich source of information for payments. Why not use it? If you’re already
a Rave user, you can plug your EDC directly into Medidata Payments. Using these
systems together allows you to:
• Shorten study setup time for payment processing by 80-percent. Our Rave clients
save more than three days of setup work per study when using Medidata Payments
versus a non-Medidata payment tool. Why? Because the Rave-Payment integration
is pre-built; you can set up our payment technology without any technical or
engineering expertise needed. Additionally, the subject visit schedule in Rave is
auto-populated into Medidata Payments, further reducing the effort needed to
create payment triggers.
• Automate payment calculation and cut processing time by 60 percent. Our
integration layer between Rave and Payments is the industry’s only out-of-the-box
technology that is able to calculate a payment using completed procedure costs.
It uses data from Rave to exclude incomplete procedure costs.
The Medidata Grants Manager® advantage:
At Medidata, our strategy is to streamline the budgeting, contracting and payments
processes for our clients who use Grants Manager Contracting™ and Medidata
Payments together. Using these systems together allows you to:
• Reduce the time it takes to set up site payments for your study by 80 percent.
Data from Grants Manager Contracting can be imported into Medidata Payments via
a data transfer capability, which supports batch transfer of all sites’ negotiated costs
into the payment system and also supports global sites’ negotiations and currencies.
• Automatically update renegotiated contract costs in your payment calculation.
Did you know that there are an average of 2.3 amendments made to a protocol over
the course of a study? Amendments made in Grants Manager Contracting can be
transferred directly into Medidata Payments via a data transfer capability. This
transfer auto-creates amended cost values (with site-specific effective dates) in
Medidata Payments—saving you time and eliminating data entry errors. It also
improves tracking of your full negotiation and payment history.
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Using the latest
payment technology
is an advantage for
both sponsors and
CROs.
Medidata Payments for CROs:
• Improve win ratio
• Increase client retention
Medidata Payments for
sponsors:
• Improve enrollment
• Retain experienced sites
About Medidata
Medidata Solutions is the leading
global provider of cloud-based
solutions for clinical research in
life sciences, transforming clinical
development through its advanced
applications and intelligent data
analytics. The Medidata Clinical
Cloud™ brings new levels of
productivity and quality to the
clinical testing of promising medical
treatments, from study design
and planning through execution,
management and reporting. We
are committed to advancing the
competitive and scientific goals of
global customers, which include
over 90% of the top 25 global
pharmaceutical companies; innovative
biotech, diagnostic and device firms;
leading academic medical centers;
and contract research organizations.
[email protected] | mdsol.com
+1 866 515 6044
Medidata Clinical Cloud™
Cloud-based clinical research solutions | Innovative technology | Data-driven analytics
Reduced costs | Improved time to market | Faster decisions | Minimized risk