Clinical trials can be professionally and financially rewarding for physicians. Requirements for prior experience however can be a barrier to entry for physicians looking to get involved. Additionally, the complexities of patient recruitment and documentation can create a further barrier due to time constraints and process changes.
Physicians enjoy the peer recognition that comes with participating in research. Observational studies become a platform for physicians to segue into the higher level of clinical trials through behavior research. Observational Studies are just that. Observational behavior is documented rather than a per patient or per test recruitment.
Observational studies look at the Principal Investigators (P.I.) behavior related to following their Standard Operating Procedure for addressing various conditions based on the study chosen. Behavior modification based on findings and related outcomes is what is noted. Data is collected daily then quarterly reports submitted.
How Does It Work?
The physician completes a questionnaire based on what data is needed and on the study type. Studies available include Allergy, Pharmacogenetics, Wellness, Pain, Onychomycosis and several other new studies are coming available soon.
Allergy, Pharmacogenetics, Wellness, Pain, Onychomycosis
These studies do not require a physician to have prior experience in Clinical Trials as many drug company funded trials do. These studies however, do contribute to physician experience in Clinical Trials and can help them qualify for other forms of Clinical Research.
First the physician applies to be an Investigator with the Research Company and the volume of potential patients assessed. This ensures that the practice has enough volume to provide data from the practice to qualify for research purposes.
The physician selects the protocols they want to be involved in and a daily report is submitted at the end of each day. Quarterly, a summary report must also be provided from the practice. A copay of $49 may be required for some testing.
Reporting is time efficient and assesses the physician behavior and is not dependent on registering individual patients for the study and no patient consent is required.
Physicians are reimbursed based on their time allocation to the study up to fair market value of $495 per hour. This compensation is paid direct to the physician and is not reliant on any insurance, thereby producing another revenue stream for the practice, free from clawback.
producing another revenue stream for the practice, free from clawback.
The physician benefits by contributing to research and gaining experience in Clinical Research. Research adds interest to the practice of medicine for physicians by positioning them as an expert. Additional revenue can be several thousand dollars per month or more.
The patient can receive additional testing or treatments that may not have otherwise been available to them, improving outcomes.
How To Get Started
1) Express your Interest
2) Physician details verified
3) Documentation Provided
4) Training scheduled
5) Start Research