MAGI Award for Excellence in Site Payments winners announced
Nimblify, a clinical trials technology company, helped announce the winners of the MAGI Award for Excellence in Site Payments at MAGI's Clinical Research Conference on May 22, 2017 in Philadelphia, Pennsylvania. Nimblify partnered with MAGI to perform an analysis on the state of the industry as it relates to site payments and to honor and recognize sponsors and CROs that pay sites promptly. Site customers of Nimblify’s parent company, Forte Research Systems, contributed data for hundreds of studies across 142 sponsors and CROs with nearly 32,000 payment records. Dr. Wendy Tate, director of Data Analytics at Nimblify, curated and analyzed the data to identify trends and averages in timeliness of payments made to sites.
Nimblify Founder & CEO Shree Kalluri presented the awards to the sponsors in attendance during the opening of the conference. Here are the sponsors recognized for the inaugural awards:
- Winner, Fastest in 2016: Sunovion
- Winner, Most Consistent Over Time: Eisai
- Runner-Up, Most Consistent Over Time: AstraZeneca
"AstraZeneca is very excited to have been recognized as a runner-up in the MAGI Award for Excellence in Site Payments. Timely payments to our investigator sites is really important to us and we’re constantly looking for opportunities to improve. My congratulations to the AstraZeneca U.S. team," said Doug Schantz, executive director, Clinical Operations of AstraZeneca.
MAGI and Nimblify also recognized study sponsors, Amgen and AbbVie, with honorable mentions for paying sites within a median average of under 90 days consistently over the last several years. Additionally, the following sponsors paid sites in under 90 days in 2016: Sunovion, Tenax Therapeutics, Amgen, Indivior, Lannett Company, Pfizer, Eisai, Sanofi, AstraZeneca, Electrochemical Oxygen Concepts, Gilead Sciences, LEO Pharma, AbbVie, Boston Scientific, AtriCure and Novo Nordisk. Other sponsors might also meet this standard as the database expands to support a broader analysis.
Norman M. Goldfarb, MAGI chairman, said, “Many clinical research sites cannot afford to finance the cost of conducting clinical studies for the months—often many months—that it takes to collect payment from most study sponsors and CROs. With this award, we recognize the sponsors that pay the quickest. When sites choose which studies to conduct, they will now know which sponsors they can count on to pay promptly.”
Additionally, Laura Hilty, vice president of Product Management at Nimblify shared the results of the analysis on the state of the industry at MAGI on Tuesday, May 23 during the presentation, “Sponsor Payments to Sites: How Long Does it Really Take?” Slow and late payments can be devastating to sites and to the study as a whole. This new data on payment collection timelines has helped establish a baseline to motivate both parties to start having conversations on how they can improve the process.
Nimblify is a clinical trials technology company dedicated to improving trial outcomes by connecting stakeholders in clinical research in innovative ways. Nimblify created Participant Payments, a patient-centric payment system, and hosts Site Benchmarks, a free award-winning metrics and comparative analytics tool for sites. Nimblify also collaboratively and continuously develops Research Insights, a cloud-based analytics platform with actionable information, and hosts the Nimblify Marketplace, which provides business operations solutions for sites to save time, reduce costs and ensure quality. Spun out of Forte Research Systems in August 2015, Nimblify is a privately held company and is headquartered in Madison, Wisconsin.
Model Agreements & Guidelines International (MAGI) is streamlining clinical research by standardizing best practices for clinical operations, business and regulatory compliance. It has 10,000+ members who represent most of the major players in the industry.