King of Prussia, Penn.-based Greenphire, a provider of payment technologies for the clinical trials industry, said its ClinCard Technology Platform has been chosen for use in a large, phase III clinical trial to include more than 1,000 patients across six countries. The trial is expected to last more than five years.
The ClinCard system will allow the sponsor to execute quick payments to patients globally in four different currencies, and will reduce the administrative burden on sites by replacing traditional manual processes with automated electronic payments. Greenphire said in previous studies, ClinCard decreased time spent on administrative tasks related to patient payments by up to 90% and reduced associated costs by up to 60%.
“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.