The Company’s FinTech Solutions Bolster the Organization’s Mission to Enable Widespread Adoption of Patient-Focused Research
Greenphire, the global leader in financial lifecycle management for clinical trials, has announced today that it has joined the Decentralized Trials & Research Alliance (DTRA), a burgeoning alliance of 100 life science and healthcare organizations that seek to accelerate the adoption of patient-focused, decentralized clinical trials and research.
“Greenphire is proud to join the DTRA in support of its mission of making clinical trials accessible to all. While hybrid studies were on the rise before the COVID-19 pandemic, sponsors and CROs prioritized the addition of decentralized trial tools in 2020, offering much needed flexibility for patients as well as support for sites. Implementing end-to-end financial solutions bring transparency and efficiency to decentralized clinical research operations, a trend we expect to continue in the years to come,” said Jim Murphy, CEO of Greenphire. “Decentralized trials also have the benefit of helping attract a more diverse and broader patient population, which leads to both health equity and better research outcomes.”
“We are extremely gratified to welcome Greenphire to the Decentralized Trials & Research Alliance,” said Amir Kalali, MD, founder of several collaborative life science communities, and co-convenor of DTRA. “By advancing decentralized research we can make the clinical trial process more patient-focused, increase trial efficiency, and improve access. We are excited by Greenphire’s commitment to decentralized trial models and the use of technology to support pragmatic evolution in clinical research.”
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Greenphire made several enhancements to its widely used payment and reimbursement solution, ClinCard, in response to the immediate need for decentralized trials due to the pandemic, allowing flexibility for patients in the future. These include data-triggered payments, which allow for real-time participant reimbursements based on predetermined event schedules, plus the introduction of virtual cards to further allow for streamlined payments without any in-person contact. Additionally, last year Greenphire’s global participant travel service, ConneX, was enhanced to incorporate direct-to-participant care, including transportation of medication, equipment and medical personnel to a participant’s home.
Launched last December, the DTRA unites industry stakeholders including healthcare companies, regulators, patient groups, and research organizations with a singular mission to make clinical trial participation widely accessible by advancing policies, research practices and, new technologies in decentralized clinical research.
Experts estimate that COVID-19 may have set back non-pandemic clinical trials by several years due to prospective patients’ inability or reluctance to schedule visits at physical research locations. Decentralized approaches to conducting research facilitate participation across broader regions and improve access for a more diverse patient populations, both of which could ease COVID-19-imposed difficulties for both patients and clinical investigators. Inclusion of representative patient populations in clinical trials by race, age, and geographic location has long been an operational challenge. COVID-19 has spotlighted the disparities and inclusion biases that have become hurdles for potential trial participants.
“Now is the time to share ideas and insights that will chart the future course of clinical trials, accelerating drug development and saving lives – and by taking part in the DTRA, Greenphire is demonstrating its leadership to drive change,” said Craig Lipset, DTRA co-convener, clinical innovation advisor, and a pioneer in decentralized trials. “We have a responsibility to advance the health of people with unmet medical needs, and by convening stakeholders from pharma companies, regulators, technology leaders and patient communities, we can remove remaining barriers to adoption and impact patients today.”
Greenphire joins with its peer DTRA Member organizations to provide expertise to identify and address gaps and needs and advance best practices through effective education and communication.
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