BiopharmaTrend.com

Today, Greenphire, the global leader in financial lifecycle management for clinical trials, announced the launch of a new budget development solution, EnvisiX, to address the budgeting challenges experienced by global sponsors and CROs during study start-up.

Integrated with eClinicalGPS, Greenphire’s industry-leading site payment solution, enables unprecedented simplicity and efficiency throughout a trial from budget creation and negotiation to management, execution, and tracking of global investigator grants.

As the COVID-19 pandemic continues to limit movement all over the world, clinical trials have had to adapt by leveraging methodologies typically associated with hybrid or remote clinical trial designs. The alternative would be to suspend the trial and interrupt care for enrolled patients, something that according to NPR, has been done to more than 400 studies since March 1, 2020.

To help keep trials active and patients engaged during trial disruption, Greenphire, the global leader in financial software for clinical trials, today announced that it has enhanced its award-winning payment and reimbursement solution, ClinCard, to include additional capabilities to support decentralized clinical trials due to COVID-19 interruptions.

“As the landscape for clinical trials evolves, we’re beginning to see a need for remote payment capabilities. We heard from over 1,800 site personnel and over 80% said that providing a small payment following a virtual visit would improve the likelihood of participants staying in a clinical trial,” said Kyle Cunningham, Chief Product Officer of Greenphire. “It’s of utmost importance to keep clinical trials running in this uncertain time. As a company dedicated to removing barriers to both sites and patients, we’re thrilled to offer these new capabilities for our ClinCard solution so that patients can stay engaged and enrolled in trials and sites can continue their critical work.”

New legislation requiring pharmaceutical companies to implement 'serialization' is now coming into force. This means that no counterfeit product should enter the supply chain and no legitimate product is diverted from its intended destination. To work effectively, serialization requires a comprehensive system to track and trace the passage of prescription drugs through the entire supply chain. The application of track and trace principles can help to avoid counterfeit medicines from entering the supply chain. To be effective, digital technologies such as blockchain and RFID-enabled tag and trace systems need to be embraced.

(This post first appeared in Forbes)

Pioneered by expensive and cumbersome legacy electronic data interchange (EDI) systems, the B2B e-commerce market has been evolving, showing a staggering growth rate with a projected volume of $1.1 trillion in the U.S. alone and $6.7 trillion globally by 2020.

The digital transformation of biopharmaceutical manufacturing is continuing at a rapid pace as companies attempt to mine the sources of data available. Innovations include predictive analytics, big data analytics, and creating the digital plant. Digital transformation offers a mechanism to revise its business model, to improve production processes, to design new drugs faster by using artificial intelligence to screen compounds and to increase responsiveness to customers. Furthermore, the volume of data processed by pharmaceutical firms shows no sign of slowing down. This means pharmaceutical companies must act quickly in terms of building core internal digital capabilities and moving beyond their traditional IT functions to all areas of the business.