Problem:
A clinical research setting can be found in a hospital-based clinical research unit. In this type of setting, principal investigators and research teams study new treatments using investigational drugs and medical devices. These are products that are still being tested to determine if they are safe and effective. Subjects may take part in clinical trials where they receive these investigational treatments and are closely monitored. The main goal of this setting is to collect accurate data that can improve future medical care. In this setting, fixed and variable costs can be identified by looking at whether the cost changes when more subjects are added. A fixed cost stays the same no matter how many subjects or procedures are completed. A variable cost increases when more subjects are enrolled or more tests are performed. Another way to tell the difference is to see if the cost is tied to the overall operation of the research unit or to each individual subject. One example of a fixed cost is the salary of full-time clinical research staff, such as research nurses or coordinators. These employees are paid the same amount regardless of how many subjects are enrolled in a study each month. Their pay does not change based on the number of investigational drugs given or devices used. One example of a variable cost is the use of investigational drugs or devices during the study. These items are used for each subject enrolled in a trial, so the cost increases as more subjects part. Need Assignment Help?