12 months to 7 figures

1. 12 Months to 7 Figures
In Clinical Research

2. Profit Margins
Clinical trials is an industry where you can make
big revenues in a very short amount of time
Profit margins can range anywhere from 40-90%
How much you take home is variable depending
on your expenses, how many owners are
involved, etc. but is very much within your
control

3. The Process of Obtaining a Study
● Find a study/sponsor that is currently seeking sites
○ Constantly look for studies actively by reach out to project managers and going on
www.clinicaltrials.gov
● Sign a CDA after which they will provide you with the protocol and feasibility
questionnaire
● Complete the feasibility questionnaire and return it to the sponsor
● If you meet their qualifications a Site Selection Visit will be scheduled, in
which they will essentially conduct the feasibility questionnaire in person

4. Option 1: Conduct Inpatient Studies
Owning a clinical research site and running an
inpatient study
Does not necessarily need to be phase 1
The more bed days you get for the study the
better
“Outpatient studies keep the lights on, but
inpatient studies are where you’ll make your
money”

5. Step 1: Negotiate a Monthly Bed Rate
Negotiate a monthly bed rate with a facility where you can have the patients stay
for the inpatient portion of the study
Most ideal to least ideal options:
Assisted Living Facilities > Surgery Center > Nursing Homes > Hospitals
Negotiating a low bed rate is most important, all other line items are negligible
Keep in mind that the going rate may vary depending on location

6. Step 2: Negotiate with the Sponsor
Aim to get $900 - $1500 per night reimbursed to you for each subject
Example: If you negotiate a bed rate of $100 per night and get reimbursed $1100
per night by the sponsor, you will profit $1000 a night and $30,000 per month for
each patient.
To profit $1,000,000 you would need to have roughly 30 subjects inpatient for 30
days
You could profit the same amount by having fewer subjects who are inpatient for a
longer period of time or more subjects inpatient for a shorter period of time

7. Keep in Mind
Some sponsors may require that the inpatient
portion of the study be conducted at acute
private hospitals which can be costly
It may be possible to convince the sponsor to
allow you to have your patients stay at a nursing
home or assisted living facility instead which are
more cost effective

8. Step 3: Patient Retention
The key is to keep subjects inpatient for as long as possible
Patients may decide to withdraw before the end of the study
To prevent this, you may want to spend some money on:
● Entertainment
● Planned field trips
● Good food
● Other amenities

9. Option 2: Conduct Outpatient Studies
Obtain 5-10 outpatient trials with each trial paying
$10,000 or more per completed patient
Enroll roughly 10 patients per trial and make sure they
complete the study
Withdrawals and screen failures are not profitable
You could reach 7 figures by conducting fewer trials
with more patients per trial or higher paying trials

10. Keep Profits High and Costs Low
Your ultimate goal is to profit a million dollars, not
gross a million dollars with high costs
To keep profit margins high, keep your costs low by
putting in work as the coordinator, PI, etc. for the
first few years
If you want to reduce your involvement later on by
hiring more people, your profit margins will go down
To balance this out, obtain more studies or enroll
more patients