Our Mission
Our Vision
Patient recruitment is one of the biggest challenges in completing clinical trials on time.
- 80% of clinical trials struggle with recruitment
- Less than 5% of those eligible to participate actually sign up
- Dropout rate is as high as 30%
Two of the main reasons why patients don’t sign up for clinical trials or drop out is participation burden and financial burden.
Our vision is to create an ecosystem of appsthat will address both these issues - participation and financial burden.
Our first product – Joik payment solution (prepaid cards and apps) will address the financial burden on trial participants.
In the next phase we will develop applications (web & mobile) that will address participation burden and support decentralized or virtual clinical trials. Applications will includepatient visit scheduler and reminder; video calling and chat functionalities; electronic consent, electronic patient reported outcomes (ePRO), drug compliance and so on.
Founder’s Story
As part of Jiban’s role as a global trial manager, he had to visit multipletrial sites across Europe. These visits were mainly to discuss recruitment. While doing so Jiban realized that sites had one issue in common – delayed payments to the sites and to the patients. In some cases, payments were delayed for as long as 12 months. This delay in payment puts financial burden on sites and patients and financial burden is one of the reasons why patients drop out of clinical trials.
Moreover, as trial managers, we were asking sites to widen their search area to look out for new patients without realizing the fact that widening the search area will also increase the travel cost.
In order to attend an onsite visit, patients have to spend their own money to cover indirect expenses such as travel, lodging, childcare whilst loosing their wages. If we include lost wages, each onsite visit could cost as much as 250 – 300 EUR and if the reimbursements are delayed for months, it puts significant financial burden on patients.
Jiban realized that majority of the reimbursements involved cash and paper receipt and the entire process was inefficient and lacked innovation.
In this day and age when fintech challenger banks are revolutionizing the way we bank and payments are processed in minutes, why is it taking so long for trial participants to get their reimbursements?
With the mission to innovate the trial reimbursement process and to make it efficient, Jiban founded Joik Health in Jan 2020.