Digg It - Business

If you are a CEO, CFO, Controller, Purchasing or Facility Director, you may never have considered the fact that your electric b

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ills could have hidden overcharges and errors.

However, businesses in Virginia and the Carolinas regularly overpay 5%-15% beca

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

use of these errors.

“Four out of five commercial or industrial customers are over billed by the utility at some point.” accor

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ding to Brian Coughlan, President of Utility Management Services, Inc. in Wilmington, NC.

This oversight is due to some common

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

myths about our nation’s power providers:

Myth #1: Utilities are government regulated and have our best interest in mind

Myt

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

h #2: Computers and electronic equipment eliminate billing and metering errors

Myth #3: Electricity is electricity. There i

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

s only one price.

Myth #4: The power company is obligated to select the best rate for my business

Myth #5: Nothing can be d

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

one to reduce our electric bill. It’s a fixed expense.

These myths are responsible for hundreds of millions of dollars in ann

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

al overcharges and errors in the Southeastern United States.

As of May 2006, businesses with the proper knowledge of billing,

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

metering, and rate practices have eliminated over $28M (and counting) in hidden overcharges and errors from their electric bill

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

s.

This series will shatter these myths and provide you with useful information that can save your business thousands annually

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

in electricity expenses.

But first we must understand the tremendous effect small errors and overcharges have on a business’

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ottom line…

Since electricity is a normal operating cost of your business, any reduction in this cost has a direct, dollar-for

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

-dollar impact on your bottom line.

A good question to ask is: “How much of our products/services must be sold in order to mak

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

e $1,000 in net income?” or, “What is my net income as a percentage of sales?”

For example, if your net income as a percentage

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

of sales were 2%, then you would need to make $50,000 in gross sales just to net $1,000 to your bottom line.

In the Dominion

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ower service territory, it is not uncommon for businesses that spend $1,500-$10,000 per month in electricity to have $900-$18,0

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

00 in annual overcharges and errors on their bill.

Assuming our example of a 2% net income as a percentage of sales, that’s th

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

e equivalent of $75,000-$500,000 in gross annual sales.

Indeed, small errors can make a big difference to a company’s profitab

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ility.

In Part 2 of our series, we will expose Myth #1: Utilities are government regulated and have our best interest in mind

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/20281/diggit-Hidden-Electric-Bill-Errors-And-Overcharges-5-Myths-That-Could-Cost-You-Thousands.html">Hidden Electric Bill Errors And Overcharges: 5 Myths That Could Cost You Thousands</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/20281/diggit-Hidden-Electric-Bill-Errors-And-Overcharges-5-Myths-That-Could-Cost-You-Thousands.html]Hidden Electric Bill Errors And Overcharges: 5 Myths That Could Cost You Thousands[/url]

Have you ever met a fairly smart person and then watch their activities in business and just wanted to puke? It certainly gives entrepreneurship a bad name. Indeed, it makes me sick to my stomach. Why do they stoop so low? Well it appears that they do it because it works and that there is a sucker born every minute and rather than having a little integrity and ethics they simply get down to the lowest common denominator and take people’s money.

It is observed that if a spinning mill follows the steps recommend as above, they can function their ring frames at speeds up to 25,000 rpm (It appears that 25,000 rpm is still the higher limit even at ITMAA Singapore October 2005) without either rising the breakage rate weakening yarn quality. The recommendation provided here is based on experts' experience of functioning with many spinning mills in India and Indonesia increases spinning productivity.

Tags

Links

Digg It - Hidden Electric Bill Errors And Overcharges: 5 Myths That Could Cost You Thousands

Related Articles: