In Modernizing Patient Payments in Clinical Trials, Skyelarke’s SkyePay Leads the Way

Patient payment systems in clinical trials have long been plagued by inefficiencies and complexities, leading to financial burdens for participants and administrative challenges for research sites. However, the health tech company Skyelarke has unveiled a game-changing solution with their cutting-edge patient payment technology, SkyePay. This revolutionary platform introduces faster payment methods, increased patient payment choices, and an API framework, transforming the patient experience and streamlining the payment process for all stakeholders in the clinical research industry.

Enhancing Patient Payment Options

SkyePay’s recent additions include faster payments through Bank Transfer, Virtual cards, and integration with PayPal and Venmo, in addition to the traditional physical card option. These diverse choices empower patients, allowing them to receive their expense or stipend payments related to clinical trial participation in the most convenient manner possible. By reducing financial hardships and eliminating geographical barriers, SkyePay enhances patient experiences and encourages greater participation in clinical trials.

Streamlined Integration with Clinical Trial Systems

Recognizing the importance of seamless integration, SkyePay has developed an API framework that will soon be released. This framework will enable integration with Interactive Response Technology (IRT), Electronic Data Capture (EDC), or Electronic Patient-Reported Outcomes (ePRO) systems, optimizing the payment process for patients and alleviating the burden on research sites. Such advancements are set to revolutionize the clinical research landscape, making patient payments smoother and more efficient than ever before.

A Patient-First Ethos

Central to the ethos of Skyelarke and SkyePay is the patient-first approach. The platform significantly reduces the time it takes for patients to receive their payments, minimizing financial burdens and potential patient dropout rates. By automating payments and offering multiple payment methods, SkyePay empowers patients and ensures they can participate in clinical trials without undue financial constraints.

Word from Skyelarke’s Top Strategist

Philip Staines, Chief Strategy Officer of Skyelarke, expressed excitement about their continued progress with SkyePay, following its launch in March. The company is dedicated to its mission of improving patient experiences by addressing obstacles that hinder participation in clinical trials. Phil emphasizes the need to optimize processes, eradicate unnecessary financial hardships, and overcome geographical barriers to ensure a seamless trial experience. With the introduction of a variety of payment methods and increased accessibility for other Clinical Trial Systems, SkyePay is poised to make a significant difference for both trial participants and sponsors when it launches later in 2023.

Key Benefits for All Stakeholders

For Patients. Patients participating in clinical trials reap numerous advantages through SkyePay’s patient payment system. The platform offers automated and instantaneous payments, ensuring rapid reimbursements and alleviating financial barriers that may hinder participation. Furthermore, SkyePay provides patients with multiple payment options, including bank transfer, card, and virtual payments, allowing them to choose the method that best suits their preferences. By reducing the financial burden associated with clinical trial participation, SkyePay enhances patient retention and engagement, promoting a positive and seamless trial experience for all participants.

For Sites. Research sites involved in clinical trials benefit from SkyePay’s streamlined and user-friendly interface. The platform requires no specialized training, enabling site staff to navigate the payment system with ease. Notably, SkyePay’s efficiency allows payments to be processed in under two minutes, freeing up valuable time for patient care and reducing administrative burdens. The integration of receipt management further streamlines the payment process, making it hassle-free for research sites. Moreover, SkyePay’s Sponsor/CRO approval process facilitates smoother payment workflows, easing administrative tasks and providing sites with more time to focus on delivering quality patient care.

For Sponsors / CROs. Sponsors and Contract Research Organizations (CROs) find substantial advantages in SkyePay’s patient payment system. The platform offers detailed and transparent transaction reporting, simplifying the reconciliation process and ensuring clear financial oversight. SkyePay’s fast approval processes expedite payment timelines, enhancing efficiency in clinical trial operations. Additionally, the platform adopts a privacy-centric design, with data storage tailored based on the study’s location, ensuring compliance with relevant regulations and safeguarding patient information. By reducing the burden on research sites and improving patient engagement, SkyePay ultimately contributes to better clinical outcomes, supporting sponsors and CROs in their quest for successful trials.

The Future of Clinical Trial Excellence

SkyePay’s innovative approach to patient payments is a significant step towards modernizing the clinical research industry. By addressing financial obstacles and simplifying payment processes, the platform promotes patient-centric trials, improves participant retention, and fosters greater engagement in research studies. The forthcoming API framework will further optimize integration with existing clinical trial systems, solidifying SkyePay’s position as a leader in patient payment technology.

About Skyelarke

Skyelarke is a prominent global provider of cutting-edge health tech systems, specializing in solutions for the clinical trials industry. With a wealth of experience in this field, the company has cultivated a reputation for dynamic product development and a firm commitment to harnessing technological innovation to address the sector’s most significant challenges.

Driven by a mission to enhance accessibility in clinical research, Skyelarke introduces SkyePay, a revolutionary platform designed to alleviate the financial burden of trial participation. SkyePay employs real-time processing and offers multiple payment methods to ensure that patients are never left out of pocket during their clinical trial journey. This patient-centric approach significantly elevates the patient experience, reducing dropout rates and enhancing the overall efficiency of the trial lifecycle.

Skyelarke’s dedication to human-to-human interactions sets them apart in the health tech industry. With a vision to empower patients and streamline clinical trial operations, Skyelarke aims to revolutionize the way patient payments are managed, paving the way for more seamless and accessible clinical research worldwide.

Visit skyelarke.com to learn more.

Engr. Dex Marco Tiu Guibelondo, BS Pharm, RPh, BS CpE

Editor-in-Chief, PharmaFEATURES