Greenphire's ClinCard Technology Platform selected by top 5 pharmaceutical company for long-term global clinical trial
KING OF PRUSSIA, Pa., Nov. 6, 2012 /PRNewswire-iReach/ -- Greenphire, the leading provider of payment technologies for the clinical trials industry, today 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 will 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."
Greenphire is the industry's leading provider of clinical payment technology, designed to change the way research professionals work. We leverage our proprietary workflow automation and advanced webâ€based payment technologies to help our clients improve operational efficiency, reduce costs, mitigate regulatory risks, increase subject retention and compliance, and produce quantifiable results that improve clinical operations and strategic planning. Learn more at www.greenphire.com.