When money gets tight, or the economy takes a downturn, many people begin looking for ways to make some extra money. One way to earn some extra cash is to participate in research studies, but how much do research studies usually pay?
What are Research Studies?
A research study is a scientific study used to improve or develop new methods if health care. There are many types of research studies that exist, and they are designed to answer specific questions regarding how to prevent, diagnose and treat different diseases and disorders.
Research studies can involve testing new medicines, devices or other treatment options for a myriad of different medical conditions. Researchers need individuals who fit their criteria to participate in these studies in order to gather information.
How Much Do Research Studies Usually Pay?
If you are looking for a way to earn some extra cash, you may be considering participating in a research study. Keep in mind that, if selected, you are acting as a human Guinea pig. You will be testing a product, treatment or method that has not yet been approved.
There are invasive studies and non-invasive studies, many people choose to only participate in non-invasive studies to minimize their risks of adverse side effects.
Different research studies will involve different amounts of risk. If you are comfortable with the risks associated with a research study, you can make a decent monetary profit from it.
That being said, the pay range for participation in a research study can vary widely. On average, you can expect to be paid anywhere from $50-$300 per day to participate in a study.
The total amount you will be paid will depend on the length of the trial and the treatment or procedures performed. Studies that require overnight visits, for example, will typically pay more than ones that involve repeated daily visits.
Additionally, the more invasive the treatment or procedures, the more likely you are to receive a higher compensation.
Aside from the monetary benefits of participating in a clinical trial, there are some other major benefits for you. First, during the selection and screening process, you will be required to undergo a physical examination. If it has been awhile since you have been to the doctor, this is a good opportunity to get an update on your overall health.
The more invasive and extensive trials may require you to undergo even deeper physical exams, including EEG, MRI, EKG, etc. These tests can be lifesaving.
If you have the condition for which the clinical trial is attempting to treat or cure, you could potentially reap the benefits of the treatment. Each year, hundreds of cancer patients sign up for research studies in an attempt to cure or at least delay their cancer from spreading.
Paid research studies can be a great way to earn some extra income while improving your health and contributing to the greater good of medical research.
It is important to keep in mind that these studies have not yet been approved for the general public, so there are some risks involved. However, if you want to make some extra spending cash without the hassle of a part time job, you may decide to give it a try.
If you are interested in participating in a research study, contact Miami Clinical Research at 305-433-6496.
