We recently had the great opportunity to connect with numerous sites who chose ClinCard to automate their participant reimbursements and stipends at the Site Solutions Summit, hosted by the Society for Clinical Research Sites.
Participant payment automation was an attractive investment to many sites at the event. There were many reasons given as to why the sites had thought that automating reimbursements was valuable, however, the number one reason preventing the automation was due to their very limited resources. Therefore, investing in ClinCard was never viewed as an “urgent” investment.
So, what drove the decision to go forward with ClinCard?
Overwhelmingly, the most common reason sites to ultimately chose to use ClinCard as their automated payment provider was in response to check fraud incidents. Site after site shared their very candid (and ultimately expensive) experience where their bank accounts were compromised by using checks and then how that negatively impacted their research. In addition, once the decision was made to use ClinCard, they realized a measurable ROI in patient retention and resource optimization. In fact, the majority of ClinCard clients see an ROI in less than six months.
Check fraud is one of the largest challenges facing many businesses and financial institutions today. To reduce the risk of check fraud, it is time to consider automating participant payments with ClinCard.