Greenphire, a clinical trial financial solutions company, has partnered up with Florence Healthcare to combine their technologies in efforts to streamline payments between trial sponsors and clinical sites.
Typically, staff at sites use at least six different tech platforms for any given trial, according to a study by the Society for Clinical Research Sites cited by Greenphire in a Nov. 14 press release. According to the study, 41% of sites said integrated and consistent technology in clinical research is a top need for sponsors and CROs.
“By integrating our site payment technology with Florence, sites will have fewer activities to manage and will be paid more promptly,” Jim Murphy, Greenphire chief executive, said in the release. “Sponsors and CROs will benefit from greater visibility into site activity and less end-of-study financial reconciliation.”
Financial details of the partnership weren’t disclosed.
The two companies said the technology partnership has already been validated with a number of sponsors and sites, and the integration of the combined technology will be available on studies that leverage both platforms.
Currently, Florence Healthcare’s site enablement platform is used by 18,000 connected research sites in 55 countries. In April, Greenphire released its Greenspace product, which is a patient-facing digital platform that provides access to trial-related information and activities, including financial and travel itinerary details, surveys and insights.