UK-based clinical trial participant reimbursement platform nmible has announced the integration of its technology with the patient recruitment app of Velocity Clinical Research, a US-based multi-speciality enterprise.
This collaboration aims to simplify the process of participant payments and significantly cut down the administrative workload associated with expense processing.
nmible’s solution offers participants the choice of receiving their stipend through a virtual card, cash or direct bank payment, which is then automatically fulfilled by the platform.
The technology is projected to aid Velocity in saving more than 650 working days and optimise more than $20m in payments to clinical trial participants each year.
Launched in 2022, nmible detected a market need for straightforward, cost-efficient and user-friendly software to facilitate prompt payments to global trial participants.
With the technology now ready, nmible is poised to scale and make this solution available in the market.
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The alliance of nmible with Velocity marks one of four agreements aimed at providing economical reimbursement offerings to entities within the life sciences industry, including major pharmaceutical companies and global contract research organisations.
The software applications of nmible are designed to guarantee equitable access to trials by reducing the financial barriers to participation through quick cross-border payments of expenses and stipends.
Velocity runs an extensive integrated site network spanning 90 locations across four countries – the UK, the US, Poland and Germany – and maintains a tech hub in the Indian city of Hyderabad.
Velocity Clinical Research president and CEO Dr Paul Evans said: “The Covid pandemic was an incredible awareness-raising moment for the clinical trials industry, and we are seeing more people wanting to take part in life-saving research.
“Since 2020, the amount of patient stipends we pay has dramatically increased, and so too has the burden of getting payments to people in a timely manner.
“Velocity is now of the size and scale where it can invest in its own technology. Building our own patient app is a key part of our strategy to engage and enrol more people into clinical research, and we see the automated payments function as a key driver for downloads.”