Greenphire has signed a deal to provide its ClinCard technology platform to an undisclosed pharmaceutical company conducting a long-term clinical trial.
Around 1,000 patients from six countries will participate in the five-year Phase III trial.
The pharmaceutical company will leverage the technology platform to accomplish the reduction in time and cost spent by the administrations of the clinical research sites on patient payments.
Greenphire CEO and co-founder Sam Whitaker said the ClinCard system combines patient payments in local currencies with automated patient messaging systems thereby increasing patient retention by up to 11.7%.
"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," Whitaker added.
ClinCard system will substitute customary manual processes with automated electronic payments, according to Greenphire.