Here’s an interesting fact: In 2015 alone, the FDA approved nearly 70 new medications and over 40 new medical devices. Just five years ago, the number of medication and device approvals was 56, about half the 2015 total.

Because the sum of FDA approvals (and, in turn, the amount of clinical research trials) has surged in the last several years, there has been a dramatic increase in the need for qualified physicians to be a part of these trials.

While participating in clinical trials represents a significant time commitment, the benefits to medical institutions, patients and the physicians themselves are numerous. Here are nine reasons providers should consider participating in clinical research.

How Can Clinical Research Benefit My Institution?

• Early access to new technologies, devices, techniques or medications
  • You’ll have greater insight into their efficacy and be able to decide if one of these devices or medications should be added to your supply closet.
• Additional value propositions, which can help attract and retain skilled clinicians
  • An organization's participation in research trials can help sway physicians who are looking for new opportunities.
• Increased prestige and a higher reputation
  • Institutions that take part in clinical trials tend to be more well-known and considered more reputable.

How Can Clinical Research Benefit My Patients?

• Improved patient safety
  • Many medical errors are not the result of human error but instead the lack of a system designed to prevent errors in new situations—something which medical research can provide.
• Better patient outcomes
  • Institutions that participate in medical research are more likely to follow clinical guidelines and apply new therapies quickly, resulting in better outcomes than those of patients treated in a non-research setting.
    • A 2008 study found compliance with clinical guidelines was higher and mortality among patients with acute coronary syndromes was lower in institutions that took part in medical research, even though few of these patients took part in any medical trial.
• Higher patient engagement
  • When patients are given the chance to participate in clinical trials, they gain a more thorough understanding of their condition and how to manage it. They also form stronger relationships with their physician, which can result in increased patient retention.

How Can Clinical Research Benefit Me?

• Career advancement
  • Physicians involved in medical research are often invited to co-author articles about the trial results in scientific journals.
  • Participation in clinical trials also allows healthcare providers to stay on the cutting edge of medicine and provides opportunities to collaborate as well as network with healthcare professionals from around the world.
• Superior treatment decisions
  • The data from clinical trials is evidence-based, rather than based on the personal experiences of a doctor. When a clinician is involved in a medical trial, he or she can use this objective information to think critically about each patient’s plan of care and make data-driven treatment decisions.
• Industry contribution
  • Physicians who take part in a clinical trial can feel proud to know they directly contributed to the advancement of medicine and their efforts will have an impact on the profession as a whole.

Just as CME is part of a provider’s ongoing professional development, so too should be participation in clinical research. Clinical trials not only can positively impact you, your institution and your patients now, but they can also have long-term, helpful effects well after you retire.

Looking for even more ways to improve your practice? Download the free eBook, Stop the Budget Bleed: How Private-Practice Physicians Can Reduce Spend, to discover how to make your practice as efficient as possible, while still providing the highest quality patient care.