PRLog (Press Release) - Mar. 12, 2013 - King of Prussia, PA. Greenphire, the industry-leading provider of payment technologies for the clinical trials industry, today announced that Bavarian Nordic, a vaccine-focused biotechnology company based in Denmark, will use Greenphire’s ClinCard Technology Platform in a large, Phase III vaccine trial. The trial will take approximately 1 year and involve 35 investigative sites and more than 4,000 subjects.
Greenphire’s ClinCard system will allow Bavarian Nordic to streamline its clinical payment process for the trial, reducing the administrative burden on investigative sites required for reimbursing subjects. The system will also enable sites to provide easily accessible, real-time payments to subjects throughout the trial, which has been proven to increase subject retention and compliance.
“Bavarian Nordic is looking forward to collaborating with Greenphire to ensure that payments to the 4,000 subjects involved in this trial will impose a minimal burden on the 35 participating investigative sites and will be easy for subjects to use, helping sites to increase subject retention and compliance,” said Siegfried Rösch, Director of Clinical Operations at Bavarian Nordic.
“We are delighted to be working with Bavarian Nordic and to be implementing our ClinCard technology platform that will ensure all subjects involved in this trial receive payments and reimbursements quickly and with reduced cost, risk, and administrative processes,” said Sam Whitaker, CEO and Co-Founder of Greenphire, “Bavarian Nordic’s decision to use the ClinCard system is an example of how Greenphire’s vision for clinical trial payments is increasingly accepted within the global clinical trials industry.”
The ClinCard System combines global electronic payment technology with real-time messaging functionality to automate clinical trial payments made to trial subjects. Payments are delivered through electronic transfers to a reloadable branded debit card or directly to a subject-specified bank account. The ClinCard System enables subjects to access their funds securely and in real-time. Trial sponsors are able to track and report all payments made from a web-based portal in addition to automating the execution of localized trial-specific messaging to the subject via text, email, or automated voice messages. The ClinCard system reduces costs associated with subject payments by up to 60%, reduces administrative steps by 90%, and has demonstrated increased subject retention by as much as 12%.
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