Have you ever wondered “how much do medical trials pay”? I constantly search for side gigs and side hustles and this is a question I always ask myself when determining if these gigs are worth it or not. Well have no fear, this article is going to break down the approximate amounts that medical trials pay out, and you may just be surprised at how much money you can actually make.
What is a medical trial?
First we have to define what exactly is are paid medical trials? Medical trials can be called clinical investigations, clinical research, clinical trials, or clinical studies. They all mean the same thing.
They are research that includes human participants or uses material that originated from humans (like blood, hair, or skin tissue). The medical trials are generally performed to test the safety or the effectiveness of procedures, devices, or drugs.
Many medical trials use comparison groups to compare the effects of medications or medical procedures. This means they have a control group that does not get the experimental drug or procedure and a test group that does receive the treatment.
The results of the trial generally show which group does better. The tests performed on these groups are considered relatively safe due to the limitations and protocols set in place by an Institutional Review Board (or IRB).
How do I participate in a Medical Trial?
Trial participation usually starts with you applying to the research study. Once you have applied to participate in the clinical trial, if you fit the parameters of the human subject recruitment, they will reach out to you to explain to you the study.
The researchers will then inform you of the major benefits, the possible risks, and any side effects or safety concerns of participating in a clinical trial. You will likely have to go through a physical examination. If you agree to continue to participate in the study you are considered as giving informed consent and you will have to sign the informed consent document.
How much do research trials usually pay?
If you are into side hustles or side gigs that can generate big money, then medical trials may be right up your alley. Some of these paid clinical trials can pay upwards of thousands of dollars. Much of this depends on how invasive the study is.
Invasive studies generally include some poking and prodding (literally). It can involve needles, injections, or surgeries. These are usually riskier studies but if you are comfortable with the level of risk, they could pay out more.
Non-invasive clinical trials are more along the line of medications, medical supplies, or assistive devices. I was once a participant in study that looked at the use of orthotics (or foot inserts) on jumping and landing. We had to attach some sensors to our body and jump on a force plate a bunch of times. They then gave us custom orthotics to wear for a few weeks and we had to return one time per week for 8 weeks. They retested out jump each week we returned and took measurements based off the sensor.
The study was very non invasive, it caused no harm or damage, and was actually beneficial to the participants because we got free custom orthotics to keep once the study finished. Custom orthotics generally cost anywhere from $300 – $800 dollars per set. We were also given money for our travel, and paid $100 per visit for a total of $800 for our time in the study alone.
Clinical trials can pay anywhere from $50 – $300 per day that you participate in the study. Your total amount paid will depend on the length of the study and the type of procedure being performed. Studies that require you to stay overnight generally pay more than the day visit studies as well.
It is important to remember that neurological studies, cardiovascular and heart studies, blood disorder studies, studies of the endocrine system, and gastrointestinal system all generally pay the most.
Where do I find these medical trials?
If you have read this far, you have probably decided that you interested in participating in a clinical medical trial. At the very least you are curious. You are willing to brave the risks and hope there are no side effects too concerning.
You have decided that the amount of money you can make by participating in these studies far outweighs the risk. But your next question should be, “Where do I find these studies?” One of the best places to start is the government.
ClinicalTrials.gov is a great website to begin your search for paid clinical trials. There you can look up clinical trials based on topics, on map and location, or on a general inquiry. If you have a condition or a medical issue you were looking to address anyway, this could be a good way to not only get it looked at by a medical professional, but to also get paid for it instead of you having to pay for the service.
NIH.gov is another good government site to check for paid clinical trials. They have a very good informational page to help you sort through if medical trial studies are a good fit for you and which studies you may be a good candidate for.
LabcorpClinicalTrials.com is a good independent site offering several medical trials you can participate in. They also have a large amount of studies for healthy participants (which we discuss in a follow up article).
Worldwide Clinical Trials is another great option found in over 60 countries. Because this company is global, they are specializing in a great deal of medical studies covering a large amount of medical conditions. It is likely you fit at least one of their criteria.
So now you know what a medical trial is and how much they pay. We have also covered the safety of the trial participation and where to start your search. For more information on side gigs like this one, sing up for Stan’s Gigs Newsletter by clicking here. Leave us a comment below if you have ever participated in a medical research trial.
Dr F Scott Feil is a husband, a father, a physical therapist (PT, DPT, EdD, Cert-APHPT), a professor, and most recently an Amazon best-selling author. F Scott is also a business coach and mentor. He is one of the creators and co-hosts of the Healthcare Education Transformation Podcast which aims to break down the silos between healthcare professions in an attempt to find best practices in teaching and learning throughout healthcare academia. He also hosts the Professors of Profit Podcast where he interviews healthcare professionals about their side gigs and side hustles. His goal is to help at least 222 professors and clinicians pay off their student loans quicker and/or more efficiently by using multiple revenue streams. He is also the owner of PTEducator.com , FGI Consulting, and Epic Therapy and Wellness.