Study: Site payments, patient reimbursements impact patient centricity
Greenphire, an automated clinical payment solutions provider, and the Society for Clinical Research Sites (SCRS) released a new survey that revealed the negative impact that manual payment processes have on global clinical research. Results indicated that manual processes take time away from patient care and shift focus away from research.
The survey of 760 sites around the world focused on financial operations, processes and systems, as well as key issues around patient reimbursement.
“Our survey results show that sites around the world are eager to adopt new technologies which improve financial processes, reduce administrative burden and make more timely payments possible, said Jim Murphy, CEO, Greenphire. “Eliminating manual burdens through technology can vastly improve the patient experience and simultaneously improve the financial health of the investigative site.”
Key findings of the survey, which ran from December 2016 to February 2017, revealed:
- 63% of sites prefer electronic payments
- 84% of sites prefer payment in thirty days or less
- More than 75% of sites reported that reimbursement timelines have an impact on their ability to pay stipends and reimbursements to patients
- 44% of sites employ personnel involved in accounting who also have other study-related duties
- 74% of sites report that personnel spend more than 15 minutes per patient visit on accounting activities
“Sites are looking to streamline the way payments are processed and received,” said Christine Pierre, president of SCRS. “These survey findings demonstrate that sites, both in the U.S. and abroad, want to find new ways to cut down on administrative burdens and focus on research. We are excited about the advances being made by solution providers both in the U.S. and around the world.”