RealTime-PAY™ – Instant Gratification for Research Subjects
According to a recent survey conducted by the Society for Clinical Research Sites (SCRS), greater than 60% of research sites are now paying their research subjects on the same day that subjects complete their visits. As a result, these sites are seeing better subject compliance and lower no-show rates. Most likely, this is due to the fact that subjects know that they will literally walk out of their appointment with money in their pocket.
So why do many sites still wait to pay their subjects? Some sites pay weekly, some monthly, and some wait until the end of the study to pay their stipends. Many site owners state that it is the administrative burden associated with paying stipends that prevents them from paying daily. Having to cut checks or handle cash on a daily basis for stipend payments adds a lot of overhead to the stipend payment process; therefore, many sites elect to batch their stipend payments to a single run per week or per month.
RealTime-CTMS™ has developed a solution to the administrative burden of paying stipends daily. Their new integrated service, RealTime-PAY™, makes paying stipends as easy as clicking a button! RealTime-PAY™ utilizes reloadable VISA cards that subjects keep in their wallet. When a visit is complete the research coordinator or other site designee can simply click a button to “Pay Stipend” for the completed visit, and within seconds, the money is loaded onto the subject’s RealTime-PAY™ card.
RealTime-PAY™ is an add-on feature built into RealTime-CTMS™, so existing RealTime-CTMS™ customers can easily add this new service to their system. Further, many sites report a reduction in overall administrative costs using a reloadable card system. To find out more about RealTime-CTMS™ and RealTime-PAY™, contact RealTime Software Solutions, LLC at (210) 852-4310 or visit realtime-ctms.com.