Nowadays, the cost of living seems to be rising significantly while salaries remain the same. While this provides some key issues, one of the biggest downsides is that people are choosing to forgo things in life and we believe that this should never be the case. Whether it is the yearly trip away or even insurance, we want to show that it can be easy to make a bit of fast money on the side without the hassle of a part-time job.
Making Extra Money By Participating in Clinical Research Trials
Today, we have clinical trials and before you zoom on down the page, let us explain what the process involves, as well as go through considerations you need to make and finally, give you an example of a great site to find the right clinical trial for you.
But before we get too ahead of ourselves, there are some key distinctions to make because ‘clinical trials’ is actually a very loose term in itself. Just as we used it earlier, you probably had a vision in your mind of what you believe it to be but there are a number of different trials so let’s take a look.
Control v Test Group
First, there will be two different sides to a trial normally with one group forming the test group and another forming the control group. Typically, the control group will be given the placebo and won’t be given the intervention. Also, the control group could be formed of people who do not have the health issue that is being tested so that results and reactions can be compared. Of course, the test group is then the group that will be testing the new drug, procedure, treatment, or whatever it may be.
Inpatient v Outpatient
Furthermore, you will also find that some trials will require you to stay in a facility for a given period of time. As the subject, you will be assessed and you may even have to stay overnight so that the professionals can keep an eye on you. However, there are also outpatient trials where you will visit the facility for the initial screening and then go home. Over the course of the trial, you will return to the facility at regular intervals for follow-up appointments and various checks.
Phase I, II, or III
Finally, there are also different stages of tests for new drugs and procedures. In phase one, this will revolve around the actual safety of the intervention when compared to the placebo. In phase two, they will then start to look at how effective it is compared to other solutions and the placebo. Then, phase three will look to fine tune the drug in terms of dosing and looking for the most effective product possible.
Making Money with Clinical Trials
Now that we have those differences cleared up, it is important to note that there is significant money to be earned by working on trials. For very little effort, clinical trials’ pay can be anywhere between $50 and $300 per day. Furthermore, there could also be compensation available depending on how long the trial is set to last. If you were to sign up for a trial that requires an overnight stay, the earnings grow even more. Similarly, there may also be invasive procedures and more compensation will also be awarded to those who choose these trials.
Free Physical Examination
Aside from the money, there are a number of other benefits of participating in a clinical trial including a physical examination. As the professionals need to know your condition and health before putting you on a particular trial, you will be checked and it could be a good way to spot problems early. If the trials require drugs, you may even have an EEG, MRI, EKG, and complete blood analysis.
If you find that you have a condition that is currently being studied and tested, this trial could actually save you a world of pain and even has the potential to save your life. Every single year, thousands of cancer sufferers sign up to clinical trials in hopes that they can contribute to a cure. Even if they can’t find a cure, even a delay will be better than doing than nothing at all.
Finally, it should also be noted that subjects are needed for clinical trials in order for medicine and the whole medical industry to keep progressing. If it were not for clinical trials, we wouldn’t currently have the tools to deal with AIDS and HIV.
As mentioned, we have three key considerations that need to be taken into account when looking to sign up to clinical trials. As you have seen already, there are many benefits to clinical trials and it can be a good way to earn money but there will be some that are still concerned and rightfully so. However, the FDA now regulates all clinical trials across the United States and they are subjected to the Good Clinical Practice (GCP). Essentially, this means that you are protected and all trials have been authorized.
Even with this in mind, there are three things that you need to remember before choosing a clinical trial:
- Always Read and Ask – you will be given information to read so you can assess this as many times as you want and then ask questions if you are confused or unsure. If you have generic questions, the coordinator of the study should have answers or they will find you some more information.
- Not All Trials Are Safe – we all know that not all trials will be safe so the final decision will remain with you at all times. When testing medication, drugs, and therapies, you understand that you are very much the testing phase so the side-effects are largely unknown. With this in mind, you can say no to studies because there will always be more options to explore.
- You’re in Control – you are welcome to pull out of a study at any time even if you have said yes and the process has begun. In some cases, you can even leave without losing the compensation you have earned so far. Normally, you will be asked if you want to continue at every step of the way.
As long as you keep these three points in mind, clinical trials can be a great way to earn money on the side. The next question becomes, where do I find clinical trials near me?
Much like a middleman, ResearchMatch tries to bring two people together who can mutually benefit from each other’s services in the form of clinical trials. On the one hand, there are those looking for subjects for their trials and, on the other, there are people that want to earn some money by entering a trial. As a free website, ResearchMatch is completely secure and has been developed along with academic institutions to allow the two parties to meet on a safe and secure platform.
Currently, studies are looking for people of all ages so you could find a trial for your needs today. While some will have specific health requirements or maybe even habitual requirements (smoker, drinker, etc), others will not have any and ResearchMatch will help you to get in contact and get the ball rolling.
Ultimately, ResearchMatch leaves you in control of all your decisions and allows you to decide what you wish to partake in and what you wish to avoid. On the whole, they normally have a wide range of options from surveys to full trials and you can peruse the site in your own time. To join, all you need to do is answer a few basic questions about yourself and then create a username and password for your account. After this, you can answer some optional questions regarding your health background and then submit the profile to ResearchMatch.
At the moment, the site is only for those who reside within the United States and your responses are optional. At any point, you can save your profile and then return to it at a later date. Furthermore, you will not be obligated to partake in any studies after signing up and the compensation that you will receive varies depending on the study you are in. While ResearchMatch makes for a great place to find studies, they don’t have a say on the compensation being offered.
There we have it, having access to clinical trials has never been easier. As long as you remember the considerations we discussed previously, clinical trials can be a good way to make money on the side with very little effort. And with that extra cash you can buy that affordable term life insurance policy you have been procrastinating on!