Looking to make some extra money? Here are 5 of the highest-paid clinical trials that are currently accepting participants. Clinical trials can pay anywhere from a few hundred dollars to $17,000 or more, depending on the length and complexity of the trial. So if you're looking for a way to make some extra cash, consider participating in a clinical trial!
What Are Clinical Trials?
These research studies help determine if medical procedures, drugs, or devices that have yet to be released to the public are safe and effective.
By participating in a clinical trial, you are volunteering to help contribute to fighting diseases and ailments that plague millions of people. As a reward for the risk, you receive compensation.
While this can sound somewhat scary, it’s worth mentioning that a drug will have undergone several other tests before making it to the human trial stage.
These research studies are performed on healthy consenting adults or with specific medical conditions. If you’re aged between 18-75, there will probably be a test you can volunteer for. For each trial, the conditions for who can take part vary.
Some trials, for instance, require that the women who participate are past fertility, so they are not affected by the drug in any way. Others require healthy, non-smoking adults with no underlying medical conditions.
For some paid studies, you have to suffer from a certain condition (like asthma or diabetes) to be a candidate for testing a drug’s efficacy.
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Phases of Clinical Trials
There are various types of paid clinical trials that you may be able to participate in. Drug trials are typically the most common. New drugs have to go through testing before they can be widely used. This type of testing is closely monitored and rarely causes serious problems
A new or repurposed drug must pass all 4 clinical trial phases before being approved for sale.
Phase I: A small group (typically 20-100) of healthy volunteers or people with the disease/condition are given an experimental treatment. This phase aims to understand the best way to check a drug’s safety and find a safe dosage range. Phase I takes several months, and about 70 percent of drugs move to the next phase.
Phase II: A larger group (typically 100-300) of people with the disease/condition are given the drug. The goals of this phase are to test the drug’s effectiveness and to further evaluate safety. Phase II takes several months to 2 years, and about 33 percent of drugs move to the next phase.
Phase III: An even larger group (typically 300-3,000) of volunteers are given the experimental drug or treatment. This aims to monitor side effects, confirm effectiveness, and compare commonly used treatments. Phase III takes 1 to 4 years, and about 25-30 percent of drugs move to the next phase.
Phase IV: The last phase occurs after the FDA approves the study drug or treatment. Phase IV aims to gather additional info regarding the drug’s benefits, risks, and optimal use in a larger population.
Are Clinical Trials a Good Way to Make Money?
If you don’t like needles or feel uncomfortable about the idea of untested drugs, then paid clinical trials probably aren’t for you. However, if those things do not bother you, then clinical trials may be something worth considering.
That said, most clinical studies pay.
Any reputable company will let you know the compensation involved from the onset. It’s up to you to decide if the pay is worth it. If the clinical research contract mentions nothing to do with payment terms, it’s best to ask before committing. You can simply decline the invite if it doesn’t pay.
Depending on what kind of clinical trial you participate in, how invasive the trial is and how long it takes, you can earn anything from $50-$300 per visit to upwards of $5,000 for a completed course of study.
Which Clinical Trials Pay the Most?
A clinical study can be a great way to earn extra money. And while not every clinical study pays the same, there are certain types of studies that tend to offer higher financial compensation. For example, clinical study for
typically offer higher financial compensation than other studies. In addition to the monetary compensation, you may also have the opportunity to gain early access to new drugs and treatments. So if you're looking to earn some extra money and potentially get access to new medical treatments, clinical trials may be worth considering.
How Much do You Get Paid for a Phase 1 Clinical Trial?
If you're considering a clinical trial, you may be wondering how much you can expect to be compensated. While the amount of money you'll receive can vary depending on the trial, the median compensation for a phase 1 clinical trial is $3070.
Remember that you could be reimbursed for any expenses related to the trial, such as travel and lodging. That said, the best way to get an accurate estimate of what you'll be paid is to contact the research team conducting the trial and ask about their compensation policy. They'll be happy to provide you with more information about what you can expect to receive.
The Highest Paid Clinical Trials (How to Find Ones Near Me)
I scoured the web to find the highest-paid clinical trials. That means when you’re binge-watching Friends, you could be testing your way toward a payout of $5,000 or more.
1. Labcorp Clinical Trials
As more drugs enter the market, more volunteers are needed for a clinical study. Labcorp is a renowned facility that helps conduct clinical trials on behalf of the world’s leading biotechnology and pharmaceutical companies.
Labcorp has been conducting research studies for over 3 decades. To date, the company has helped develop 50+ top drugs in the marketplace.
Covance has locations spread across the U.S., meaning there’s a chance there’s a location near where you live. With a compensation range of $2,700 – $17,723, it could be worth the drive if a location isn’t nearby.
You may want to take a peek at Covance’s database to see if there’s anything of value. Click the “Browse Studies” tab and filter the result to find a study near you.
Exact payments depend on the complexity and duration of the particular clinical trial. Studies last anywhere from 2 days to 3 months and sometimes longer. The study team will talk over the compensation details on your first visit.
You can also earn some extra cash for referrals who are successfully admitted into a clinical study.
2. Acurian Health
Acurian Health is a global company that connects research studies with people who may qualify. The company does all the leg work for you by finding you the well-paying clinical trials based on your demographic.
If you want a chance to help advance medical research, you can get rewarded as much as $600 in exchange for your time. Some trials pay more.
Acurian Health will let you know right off the bat what studies are now enrolling. These constantly change, so if you don’t see something you qualify for, don’t be discouraged. Adding your name to the database will help you get considered for future trials.
Once you’re on the site, click on a trial that interests you and answer a few questions about your demographic and health history. Answering this questionnaire will help the company connect you with the right study.
You can find studies now enrolling here.
3. Clinical Connection
This one requires little work. Clinical Connection is a third-party provider that will help you find a clinical trial near you.
You must be a member to be connected with paid clinical trials near you. You can find a paid clinical trial by entering your zip code and a health condition (if you have one) and filling out the contact form if you meet the criteria.
If nothing interesting comes up, you’ll be notified when new clinical trials are available.
4. National Cancer Institute
If you’re looking for cancer-related research studies, NCI’s website has a list of cancer-related approved trials. I recommend NCI if you’re at risk or are currently treating cancer. You must enter your age, cancer type, and zip code to find a paid cancer clinical trial near you.
The results will display NCI-supported clinical trials, where you can view eligibility criteria and a description of the study and objectives. If interested in any of the trials, contact the coordinator for more information.
5. ClinicalTrials.gov
ClinicalTrials.gov boasts the largest database of approved trials worldwide and is your best bet if you live outside the U.S.
Sponsored by the National Institutes of Health, the searchable registry and results database offers information on over 374k privately and publicly funded clinical studies worldwide. If you can’t find a clinical trial here, you’re not likely to find one anywhere.
To find an actively recruiting study, search for your geographical location and search for a condition (use healthy if no conditions are present). Take advantage of the advanced search to narrow down your results to benefit your personal demographic.
Click on “recruiting” on the results page to only show studies you can apply for right now.
When you find a clinical trial that piques your interest, click on it. Read through the study to be certain it’s something you’re interested in before contacting the researcher for more information.
There are tons of paid clinical trials that are not advertised nationwide. To find local clinical trials for money near you, just Google “ paid clinical trials near me.”
You can also use keywords like paid research studies near me, highest-paid clinical trials near me, clinical trials for money or paid studies near me. Add the name of your state or city at the end to narrow your search down.
How Safe are Clinical Trials?
There are legitimate questions to be raised about the safety of clinical trials.
The 2006 ‘Elephant Man trial’, where 6 healthy young men were injected with the drug TGN1412, caused a serious reaction in the volunteers, leaving them in need of treatment for organ failure, which is a good example.
Since then, a lot has been done to make trials safer. All legit clinical trials are now required to follow the rules set forth by the FDA, and each study should get the approval of an institutional review board (IRB) or ethics committee (EC).
Before you sign an informed consent form (ICF), the trial team will take you through the details of the study. The document explains the purpose and scope of the trial, including what’s involved, how long it lasts and the known potential risks and benefits. Read the informed consent form to know what you are getting into.
How Can I Participate in a Study for Money?
If you're interested in getting paid to participate in a research study, there are a few ways to do it. One option is to participate in a clinical trial. A clinical trial is often used to test a new drug or medical device and usually requires participants to complete a health assessment and meet certain eligibility criteria.
However, if you're not ready to commit to a research study, you might consider participating in a focus group instead. Focus groups are typically used to gather information about consumer preferences or opinions on a product or service.
While focus groups don't usually involve medical procedures, they may require participants to complete a short questionnaire or interview. If you're interested in participating, here are some websites that offer paid research studies:
American Consumer Opinion
American Consumer Opinion is a website that allows participants to share their opinions on various topics. The site is run by a company called Decode, which uses user information to help businesses make better decisions.
American Consumer Opinion is free to join, and users can earn points for completing surveys and providing their opinions. You can redeem points for Paypal cash or donate to charity, making it a great way to earn extra money.
Respondent
Research is an important part of many industries, and companies always look for willing participants. Respondent provides an easy way for people to sign up for paid studies, both online and in-person. Create an account and browse through the available projects.
You can see how much each project pays and how long it will take to complete. Most projects offer moderate compensation, ranging from $50 to $85 via PayPal. And while some of the studies may require a significant time commitment, others can be completed relatively quickly.
FocusGroup.com
FocusGroup.com is a website that offers surveys and focus groups that you can participate in to earn money. For surveys, you will earn points to apply toward a prepaid Visa debit card.
For focus groups, you will earn between $75 and $150. You can participate in focus groups in person or online by phone or webcam. FocusGroup.com is a great way to make extra money by sharing your opinions on various products and services.
Summary
If you're looking for a way to make extra money, consider participating in one of the highest-paid clinical trials. With payments ranging from $100 to $17,000 depending on the study, there is potential to make a good amount of money.
Remember that not all studies are created equal – some will require more time and effort than others – so be sure to do your research before signing up. And if you don't qualify for any current high-paying studies, don't worry; new ones open up all the time. So what are you waiting for? Start browsing today and see if you can find the right study for you!