If you are finding yourself looking for extra cash, taking part in clinical trials can be a great way to make money. With many research studies offering a financial compensation for being a “human guinea pig”, it is something that lots of people are turning to, to make some extra cash.
What are paid clinical trials?
Paid clinical trials are trials with humans, who they get paid for participating. There is a huge risk factor involved, and they are usually referred to as human guinea pigs, or lab rats. They are a very common way of making money as some of them pay well, and pharmaceutical companies are often on the look out for people wanting to take part in clinical trials to find the efficiency of the drugs they produce for the human population.
The amount of money you earn is determined by the type of trial, the amount of time you are required for and the frequency of your participation.
What do they involve?
Although the amount of money that some clinical trials offer, it is important to understand why you are being paid that amount in the first place. You are being compensated as a reward for the risk involved in the trials, as the treatments you will be testing have not be approved.
The amount of payment often has to do with the phase of the trial, and phase 1 trials pay much money more as the treatments being studied aren’t as understood.
Before you apply for a trial, the brief will outline what will be expected of you. Often, you will be asked to track your symptoms and side effects, and travel back and forth to the site to be monitored by the researchers.
Before participating in any clinical trial, you will be asked to review and sign a consent form, which will explain the potential benefits, risks and side effects that you may experience while taking part in the trial.
Would you qualify to take part in a clinical trial?
Both healthy and unhealthy people can be used for clinical trials. Sometimes you can only apply if you have a specific medical condition to test if your condition can be treated with the drugs.
What kind of medical trials can you take part in?
There are many different kinds of clinical trials available, which all have varying degrees of involvement. Some can require you to stay on site from anywhere between two nights to a month. There are also a few trials that only consist of day visits, if you are not keen on staying over. If you are willing to commit to the risk of taking part, you can actually view the trial as an opportunity to have a break, catch up on your studies or binge watch your favourite show.
Different types of clinical trials include:
Diet and nutritional studies
Asthma and flu trials