Investigator payments are an essential part of the clinical trial lifecycle in which the site and other responsible contracting parties are compensated for services rendered and work performed throughout the course of a clinical study. Clintrax has combined expert local knowledge of each country’s customs, legal, and regulatory environments with innovative tracking technology and verification processes to create a dependable payments service for both current and prospective clients. The company’s blend of experienced global payments oversight combined with leading-edge tracking technology will reduce errors often found in traditional clinical research payment practices while maintaining compliance with the Sunshine Act. We are able to leverage our depth of experience with clinical trial budgets and payment terms to tailor our payment processes to a country’s specific requirements. In-country knowledge is what sets us apart in all aspects of what we do.
Stemming from the Patient Protection and Affordable Care Act (PPACA), compliance with the Physician Payment Sunshine Act, or Open Payments, and Aggregate Spend Reporting require reporting to increase transparency into the relationship between industry and healthcare professionals per State and Federal legislation, including the cumulative amount paid for service fees, expense reimbursement, meals and gifts. As drug and medical device manufacturers are burdened with complex regulations and reporting to avert strict penalties by accurately disclosing gifts and payments made to Physicians and Teaching Hospitals as covered recipients in a clinical study, the Clintrax Global process offers a proactive solution in managing financial compliance.
Our payments software provides reporting that aligns to the required data necessary for the Sunshine Act and evolves with a growing demand for global compliance by reporting at the Investigator and Site level. In addition, our reporting provides a strategic compliment to Aggregate Spend Reporting through the collected disparate data to identify cost reduction opportunities, promote efficiency in resourcing and measure effectiveness in strategy to optimize business. The organization of the data provided by Clintrax can be used as a powerful tool to complete the big picture on how payments are and will be disbursed globally during a clinical study. As a complete system, our ability to develop globally compliant fair market value budgets, negotiate legal contracts with the best local expertise and administer accurate payments with strategic reporting is world class.