From Site Payments To Patient Engagement: How Real-World Data On Site Costs Accelerates Clinical Trial Success

By Richie McCann, Global Vice President of Site Payments and Data Analytics, Suvoda

The Greenphire Clinical Finance suite addresses longstanding inefficiencies in clinical trial financial management. Oncology studies often face negotiations exceeding 100 days, delaying patient access to promising therapies. Historically, site cost data relied on outdated, informal sources, resulting in guesswork that hindered swift decision-making and compromised site sustainability—40% of sites decline initial contracts, and 79% cite insufficient funding.

Leveraging billions of real-world payment transactions from over 70 countries, the platform offers up-to-date fair market value benchmarks, reducing negotiation times by half. Its global scope includes regional payment workflows and regulatory nuances, enabling more accurate and confident budgeting. This streamlined financial approach not only accelerates trial initiation but also supports site stability. Improved financial predictability enhances staff training, morale, and patient care quality.

By integrating comprehensive budgeting, real-time data, and payments, the platform enables sponsors to optimize resource allocation, which expands trial access and reduces disparities. Shorter negotiation cycles mean faster treatments for patients, showcasing how financial innovation can positively influence clinical research timelines and overall patient outcomes.