One of the biggest causes of clinical trial soaring costs is a lack of patient enrollment in these studies. It is my belief that this problem can be significantly reduced by getting more physicians involved in clinical research, and keeping them there once they start conducting their own studies as Principal Investigators.
There are essentially only two types of clinical research: academic and private industry clinical trials. While academic research is certainly important, 85% of clinical research is private industry funded and the biggest need for physician Principal Investigators lies there. Furthermore, with Trump recently slashing 20% of the NIH's research funding, we may even see the percentage of private research increase even further.
The types of physicians that the clinical research industry is in desperate need of are physicians with robust and established private practices of their own, to which adding a clinical research revenue stream would not only be financially favorable, but also add a certain element of prestige to the physician's brand.
In this video I discuss the benefits of a physician become a clinical research principal investigator.