Greenphire has launched a strategic integration of its eClinicalGPS, a global investigator payment technology, with IMS Health’s GrantPlan, a benchmarking and contracting tool for global clinical site grants.
Together, the two technologies enable access to analytics that previously have not been available or have been near impossible to aggregate. Clients will be able to compare benchmarked data against both actual contracted amounts and actual expenses incurred, and evaluate the performance of third parties responsible for negotiating contracts. Clients also will be able to proactively identify and mitigate unplanned expenses throughout a specific study and better anticipate actual budget variance in future trials.
The product integration will allow a smooth transition from the planning and contracting phase of a clinical trial to the trial's execution by automating data-sharing. For site contracting, data will flow in a closed loop from the benchmarking and planning phase to the contracting and negotiation phase, through to the execution of payments to sites and payment data aggregation for the Sunshine Act and other required reporting.
Linda Drumright, general manager of clinical trial optimization solutions at IMS Health, said, "This collaboration with Greenphire will enable sponsors to gain further control over the costs associated with clinical trials, from budgeting and planning to payment execution, and to automatically access the information they need to keep their trials on track and remain compliant with global regulations."
"Our combined technologies will provide clinical trial managers with the tools they need to stay informed about how actual study expenses are lining up with budgets, in real-time, and accurately project future expenses against budgets," said Greenphire founder and CEO Sam Whitaker. “We are striving to not only further automate the contracting, negotiation and payment management environment, but also equip our clients with the data needed to make informed decisions that will enable them to course-correct and take action in the present to control costs at future points in time."
IMS Health's GrantPlan is a benchmarking tool for current global clinical grant costs, a database of extensive cost data at the cost per procedure, cost per visit and cost per patient levels from around the world, including emerging countries. GrantPlan is the first 100% web-based online benchmarking and negotiation tool for international clinical grants.
Greenphire's eClinicalGPS facilitates accurate payment calculation, manages complex payment approval processes and automates payment execution in local currencies from sponsors and CROs to all investigators, sites and other vendors involved in a global clinical trial. The eClinicalGPS reduces the time and resources needed to calculate, approve and deliver site payments in local currency and produces complex reports, including aggregated reports for disclosures required by the Sunshine Act and other global transparency laws.
Separately, IMS Health’s Clinical Trials Optimization Solution (CTOS) group released GrantPlan 3.5. Its benefits include: helping trial and project managers forecast, budget and negotiate investigator grants; leveraging IMS Health data, supporting complexity calculations for study budgets based on data mining of tens of thousands of grants, pulling out which indications, patient and procedure types increase costs beyond the expected range; improving emerging country budgets; adding shortcuts to the most frequently used procedures; adding key cost data for U.S.-based institutions and their standard overhead and startup costs; helping study managers ensure a trial budget is paying fair market value to investigators.
GrantPlan’s underlying database covers the cost range in more than 60 countries for more than 3,000 procedures, including 850 rating scales and questionnaires, and is used by nearly 100 organizations, from small biotechs to large CROs and big pharma. It also tracks trends in personnel and site startup costs. Data is never more than two years old, split out by phase and therapeutic area.