Clinical trials are a vital part of medical research, and with Denver being home to many top-notch facilities conducting these studies, there are several opportunities for individuals to get paid in Denver for clinical trial participation. However, because there’s a lot of misinformation about how compensation works in the clinical trial and research industry, we wanted to clear up some misconceptions and outline the facts. Below, we’ll aim to set the record straight about getting paid for Denver clinical trials.
How Compensation in Clinical Trials is Determined
When looking to sign up and participate in clinical trials in Denver, there are many factors that determine how much compensation is given and for what purposes. In almost all cases, you’ll be given compensation for the amount of time it takes you to complete the study, called study-time, as well as reimbursement for travel-related expenses. Other factors that impact the compensation range include:
1. The complexity of the study.
This includes how many in-person visits are required of you, how many phone calls you must participate in, and what kind of activities you’ll be required to complete – diary entries or tracking symptoms, for example.
2. The study-time period.
This is in relation to the time needed for study-related examinations and the length of the study. The more blood draws, medical exams, or extensive medical procedures required, the longer the study may take.
3. The condition and population being studied.
Another contingency of the compensation range is dependent on the condition being studied (commonplace or rare), and the health of the population (healthy, volunteer, or specific conditions). For example, clinical trials in Denver for rare conditions may offer higher pay as the patient population with this condition is smaller, making it harder to find participants.
4. If there is a patient or caregiver burden.
An example of this would be Denver clinical trials for conditions like Alzheimer’s that require additional time from the caregiver to accompany the patient to study visits, or provide additional support in completing activities.
5. What phase the clinical trial is in.
An earlier testing phase is going to carry higher risk, and therefore may offer higher compensation. Denver clinical trials may also offer additional compensation for things like pain and discomfort during the study, or for completing certain specific tasks during the clinical trial. We’ll cover more about phases down below.
Here at the Lynn Institute, the majority of our clinical trial studies have a compensation range of $75-4,500 depending on the level of study-time, travel, and risk involved. Things like additional visits, daily or weekly check-ins, and phone calls increase the range as these are necessary for the efficacy of our clinical trials.
The Difference Between Low vs. Highly Paid Denver Clinical Trials
Now that we’ve cleared up the factors that determine the rate of compensation, you may be wondering how to tell the difference between a low vs. highly paid clinical trial.
What a Lower Paying Clinical Trial May Include
The characteristics of a lower paying clinical trial is one that only asks interview-style questions, and doesn’t involve any investigational treatment. This kind of clinical trial may be trying to assess medicinal packaging or find out if medical instructions are clear.
Another example of a lower paying Denver clinical trial may be a specimen-only collection study, where participants are asked to give a nasal swab, saliva, or blood sample. These kinds of clinical trials take only a few hours to complete.
Higher Paying Clinical Trials & Clinical Phases
If you’re looking for higher paying clinical trials in Denver for payment, then you’ll want to look for studies that involve investigational components, such as taking medications, vaccines, using medical devices, or undergoing testing. To outline what this looks like, we’ll take a closer look at clinical phases.
1. Phase I Studies vs. Phase III Studies
When it comes to Phase I investigational studies, these are going to pay more than Phase III investigational studies for the same medicine, vaccine, or medical device. There are a few reasons for this:
- Phase I studies are the first to involve human subjects, and both the risks and benefits may be unclear.
- Phase I studies often require more from the participant in the way of in-person visits, examinations, phone calls, and tracking activities.
- A Phase I in-patient study that requires one or more overnight stays is going to pay more than an outpatient study.
2. Phase II – IV Studies
For Phase II-IV studies, the compensation will depend on the investigational aspect of the Denver clinical trial. For example, a Phase II study with longer visits, intensive symptom tracking, and one-on-one visits with a specialist will have higher compensation than a Phase IV vaccine study that requires visits every 6-months for medical examination and blood draws.
Why Compensation Is Not Outwardly Posted in Denver Clinical Trial Advertisements
Here at the Lynn Institute, we believe in full transparency when it comes to compensation for our listed Denver clinical trials. This is why we allow all prospective participants to ask about compensation during your first phone call with us or at any in-office screening you attend. Compensation may not be outwardly posted for the following reasons:
- All clinical trials have inclusion and exclusion criteria that dictates the eligibility of a participant. Those who are eligible and go through the informed consent process, will learn about the clinical trial’s potential risks, benefits, visit requirements, study timeline, and compensation package.
- The maximum range of compensation may not be earned due to outstanding circumstances such as a participant withdrawing consent to their involvement, a participant not completing all aspects of the study, or becoming ineligible.
- Compensation is paid out over the course of in-person visits, check-ins, and as the investigational information is collected. Providing a compensation range up front may give the impression of a lump sum being paid out, which is not the case. In addition to this, having participants volunteer for a study based on the compensation range is not in the best interests of the clinical trial’s outcome.
At the end of the day, Denver clinical trials offer compensation as a thank you for your time, dedication, and participation in advancing medical research. If you have questions about our Denver clinical trials, please don’t hesitate to reach out to the Lynn Institute team. We’re here to answer all of your questions and ensure that you have a positive experience in clinical research.