Clinical research plays an important role within our society. It determines the safety and effectiveness of medications, devices, and treatment regimens that the population use on a daily basis. It is a profession that opens up a lot of opportunities, including the possibility of branching out and starting your own research site.
Many professionals working within the clinical research sector have attained the necessary knowledge and possess the qualifications to progress from employee to manager or entrepreneur. The decision to establish your own research site is both a lucrative and challenging one, as you prepare to take principal responsibility for conducting numerous studies that help determine the efficacy and safety of a variety of products for public use.
While this may not be something that new clinical research professionals pursue right after graduation, it can be an exciting option to consider as your career progresses. Read on to find out more.
Financing a Clinical Research Site
One of the most important aspects of developing your own site is acquiring the proper funding. Professionals should construct a business and financial plan to determine the amount of financial support they will require to start, how long this amount will sustain them, and other elements necessary to meet their objectives.
Develop a business plan that outlines the support you will need to achieve your goals
To ensure financial security, it can be best not to limit your project to one source of support. A number of individuals have begun their startups with personal savings earned in a clinical research coordinator career and previous employment in other organizations. Others develop partnerships with other researchers or groups also aiming to expand into the clinical research field.
The amount needed and partnership decisions will depend on the size of the startup. Starting off small allows professionals to gradually develop and attract a reasonable number of clients and products as opposed to aiming higher and scrambling to generate a vast number of accounts.
Other Factors Clinical Research Program Graduates Must Consider
Those looking to start their own clinical research site must consider the basic requirements needed for a successful practice. Individuals participating in a clinical research program gain the knowledge of materials that lead to effective and professional research. Components such as an examination room bed, an area to store or refrigerate drug products for study, a storage area for records and other supplies, and a dependable staff are all important to consider once the location and building site have been decided.
Effective clinical studies require appropriate equipment to produce accurate research
Perhaps the most important aspect of a successful site is patient and product recruitment. Establishing an efficient recruitment plan allows for continuous business and the building of a strong industry reputation, and is crucial for future progress. It is beneficial for professionals to develop their network by connecting with key personnel in hospitals, clinics, and private practices to gain staff and clients and build their business.
Are you interested in a clinical research associate career?
Contact Oxford College to learn more about our program.