Rave Site Payments
Rave Site Payments
Deliver financial transparency and forecasting while ensuring site satisfaction with accurate payments in near real time
Paying clinical sites is a critical part of every study, as is reimbursing sites for their efforts and expenses in a timely fashion. But sponsors and CROs face significant challenges when it comes to managing, reporting, and executing site payments with disparate systems, cumbersome integrations, and global tax and disbursement requirements. Rave Site Payments is a purpose-built financial management system for clinical research. It helps reduce the stakeholder’s FTE burden to reconcile and forecast, often eliminating the burden completely.
Why Rave Site Payments?
As the only end-to-end global site payment solution that enables on-demand funding, Rave Site Payments integrates with any EDC to trigger payments quickly and accurately, eliminating the need for escrow funds. With real-time reporting and advanced payment calculation and disbursement technology, sponsors, CROs, and sites can now improve their financial health and fuel innovation. Rave Site Payments is the only automated payment technology to facilitate improved compliance with regulatory policies and certifications, including ASC606, SOC1, and SOC2, and indirect tax calculations.
Getting the most out of Medidata Rave Clinical Cloud with Rave Site Payments
End-to-end budgeting to payments, enabled by Rave Site Payments, Rave Site Grants, Rave EDC, and Rave CTMS
When you plan your study using the Medidata Rave Clinical Cloud, you can be assured of combining the right sites, procedures, budgets, and payment processes to minimize complexity and set the stage for operational efficiency by reducing the FTE time needed for reconciliations. Set up negotiated site costs in Rave Site Payments to calculate payment after a subject visit or procedure is complete in Rave EDC. Optimize the amount you pay for a procedure, subject visit, or other site fee by using Rave Site Grants to reference our comprehensive data set of fully executed investigator agreements. All the agreements have been negotiated with tens of thousands of sites to arrive at the optimal budget. Track every step of the budgeting and payment process using Rave CTMS.
From budget to payments, overcoming challenges in clinical trial financial management
PPD utilizes Rave Site Payments and Rave EDC to automatically submit payments to sites across the globe