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Greenphire, provider of payment technologies for the clinical trials industry, announced that a top 5 pharmaceutical company will use its ClinCard Technology Platform in a large, Phase III clinical trial. The trial will include over 1,000 patients across 6 countries and is expected to last over five years.
The ClinCard system aims to allow the sponsor to execute quick and accurate payments to patients globally in 4 different currencies and will reduce the administrative burden on sites by replacing traditional manual processes with automated electronic payments. In previous studies, ClinCard has decreased time spent on administrative tasks related to patient payments by up to 90% and has reduced associated costs by up to 60%. In addition to reducing time and costs for clinical research sites, the ClinCard was selected for its proven ability to increase patient retention.
“By combining real-time patient payments in local currencies with automated patient messaging systems, the ClinCard system has been shown to increase patient retention by up to 11.7%, a particularly important consideration in a long-term study such as this,” said Sam Whitaker, Greenphire’s CEO and co-founder. “I am pleased that the ClinCard solution can help to ensure the success of this study and that Greenphire’s vision for automated payment processes is increasingly accepted within the industry as a way to reduce administration, costs, and risk in complex clinical trials.”