> Medidata > Escrow-Free Grant Management: On-Demand Payment Technology Offers Accuracy, Speed, and Transparency

Escrow-Free Grant Management: On-Demand Payment Technology Offers Accuracy, Speed, and Transparency

Published By: Medidata
Medidata
Published:  Nov 10, 2017
Length:  7 pages

Managing accounts payables to investigator sites during clinical trials is undeniably complex. But that complexity no longer needs to be the reason for putting tens of millions of dollars in escrow. The practice, which was once established as a matter of expediency, can now be abolished as obsolete and even a hindrance to achieving the very goals for which it was first begun. New technology solves the accrual and forecasting —and visibility—challenges that have plagued the investigator payment process for decades. An on-demand, escrow-free payment system allows trial sponsors to retain their working capital, Contract Research Organizations (CROs) to focus on trial execution, and investigators to be paid accurately and on time. The following brief reviews current grant payment practices and explains how new software tools can transform the process, efficiently solving the problem that first gave rise to sponsor-funded escrow accounts.



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