Greenphire Announces Milestone Growth for Its Clinical Trial Financial Solutions

Global demand for interoperable technology to support clinical trial payments drives company's monumental adoption rate; Need for patient-centric solutions reinforced by survey data

KING OF PRUSSIA, Pa., June 9, 2022 /PRNewswire/ -- Greenphire, the global leader in financial lifecycle management for clinical trials, today announced momentous international growth for its SaaS solutions: eClinicalGPS, EnvisiX, ClinCard, and ConneX. Entering its 14th year enhancing and innovating clinical trial processes for sponsors, CROs, sites, and patients, Greenphire has hit significant company milestones demonstrating the industry need for end-to-end solutions serving the rapidly evolving and expanding clinical trial industry[i].

eClinicalGPS, the most advanced investigator site payment solution, is used by many of the top sponsor and CRO organizations across 75 countries to gain financial visibility and streamline payment workflows with research sites. One Canadian site remarked that they "absolutely would recommend (eClinicalGPS); payments are accurate and on time." Most notably, the number of sites paid outside of the US jumped more than 30%, where site payments have historically been manual and time-consuming. This growth signals the industry's increasing prioritization on efficiency, accuracy and site sustainability realized by simplifying and accelerating activity to payment timelines.

EnvisiX, Greenphire's recently launched clinical trial budgeting and fair market value solution has also seen tremendous growth, providing sponsors and CROs with deep insight while streamlining study start up to activation.

In addition to its budgeting and site payment offerings, Greenphire also saw a major increase in usage and new clients for its patient-facing solutions, ClinCard and ConneX. This global demand has been fueled by the industry's commitment to improving patient experience and diversity by removing burden. "These solutions have become a staple of my work. I wouldn't want to do it any other way; it makes patients lives much, much easier," stated a research site in Sweden.

ClinCard, the industry standard in participant payment automation, continues to expand worldwide, having paid more than 3.4 million study participants since inception, with a more than 20% increase from the 12-month period ending April 2021. This growth proved even greater outside of the US with number of participants paid in the past year increasing by more than 36% internationally.

Traveling to clinical trials continues to be one of the top burdens for participants around the world. In fact, a recent CISCRP study found patients around the globe cited "traveling to the study site" as a top disruption to participating in clinical research, with European participants ranking travel as a 10% higher pain point than trial participants in the US. As such, Greenphire has seen an increase in the use of its global travel service for trial participants, ConneX - from local car rides and international flights to long-term accommodations and everything in between. "Our study to date has a 95% retention rate," noted a long-time rare disease focused sponsor client. "ConneX has been a huge part of this, always ensuring reliable travel plans are in place, answering participant questions and easing their burden."

The number of participants Greenphire supported globally with travel arrangement and accommodation services increased by 52% over the past 12 months. One of the most striking areas of growth was the use of Greenphire's Lyft integration - providing door to door transportation for participants - which increased 161% over the previous year. Approximately 94% of sites who have utilized the Lyft service believe that arranging transportation for their participants helps to keep them enrolled in studies. With increased global demand, Greenphire has continued to expand upon its in-country travel support, boosting feet on the ground assistance in key clinical trial regions, such as South America, Scandinavia, and Asia Pac.

"It's been a transformative couple of years for Greenphire and the clinical trial industry as a whole," said Jim Murphy, CEO, Greenphire. "The pandemic accelerated the adoption and increased usage of tech solutions across the board and highlighted the need for sponsors to seek best-in-breed partners to remain competitive. I am honored to lead an organization that is dedicated to continued innovation in serving the industry, bettering the trial process, and making trials more efficient and accessible."

About Greenphire
Greenphire is the leader in global clinical trial financial process automation. Greenphire's best-in-class solutions optimize clinical trial performance by streamlining payment and logistical workflows from sponsors and CROs to sites and patients. Greenphire's EnvisiX^TM, eClinicalGPS®, ClinCard® and ConneX® solutions easily handle any type of trial design and complexity, resulting in more accurate and compliant payments and simplified travel globally for both sites and patients. The choice of industry leaders worldwide, Greenphire provides better performance and better data, resulting in better trials. Learn more at www.greenphire.com.

Media Contact:
Alyson Kuritz
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^[i] ClinicalTrials.gov: Number of registered studies over time

SOURCE Greenphire