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Are your clients taking up to 60 days to pay their invoices? This is a very common situation and a signifi

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

cant cause of stress to many business owners. Unfortunately, having a profitable business does not necessa

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

Examples of combination products may in

rily mean that you have a reliable cash flow. Quite the opposite, many times a business may have great pro

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

fits and a very unreliable cash flow.

How can this be? Simple. Your clients are paying you in 60 days, bu

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

you need to pay employees every week, rent and suppliers. Although the numbers may work in the long term,

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

Combination pro

in the short term you are left with very little cash. This is unless you have a lot of money in the bank

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

to cover the deficits.

But, what do you do if you are new, growing or just don’t have a lot of funds in t

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

he bank? Get a business loan? Unlikely. Business loans are hard to get. A better option would be to use in

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

oice discounting. Invoice discounting is a form of financing that is not offered by a bank – it’s offered

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

by a factoring company.

Invoice discounting, as it name implies, involves selling your invoices for immed

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

iate cash, at a small discount. Its value proposition is very simple. Are you willing discount between 1.5

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

Following aspects would a

% to 6% from your invoices to get paid now? Consider that many business owners offer a 2% discount to busi

dd to the challenges in developing combination products:

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

esses that pay within 10 days. So, invoice discounting offers a similar proposition.

Of course, invoice d

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

iscounting (or invoice factoring as it is also called) is not for every business. It works best when your

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

profit margins are above 15% and if you use the accelerated funds to pay for business expenses or to pursu

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

e new business opportunities.

Factoring companies always purchase your invoices in two installments. The

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

Professional from academic institutions, pharmaceutical industries, health care indust

irst installment, referred to as the advance, covers up to 85% of the invoice. The remaining 15% (less the

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

discount) is rebated once the customer actually pays the invoice.

Invoice discounting is easy to obtain

.

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

and can be set up in days. The biggest qualification requirement is to have invoices from reliable clients

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

Companies that provide selfless information through particip

. So, if you are sitting on a whole bunch of slow paying invoices, be sure to consider invoice discounting

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

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While processing payroll in-house can be painful and time-consuming, the possibility of outsourcing these services is a great boon to many companies. These service providers give businesses the right solution, often tailor-made to suit particular needs. They say their solutions make any business more economically viable by reorganizing and supervising its administrative needs vis-?-vis the employee, including payroll, benefits, tax withholding and compliance processing.

Do you ever wonder what makes a person listen? What qualities make one's message heard and understood? Even before the understanding process can begin you have to be heard and we simply don't hear everything around us. Just like elevator music, we tune out sounds that are without variety, inflection, and interest. To capture someone's attention you have to put interest into the rhythm of your sound.

The oil reservoir (conservator tank) found on industrial and commercial hydraulic, lubricating and electrical transformer systems all suffer the common ailment of water. It is well known that water can accumulate in these conservator tanks to contaminate the oil and whether this happens in a short period or gradually over time the end result is the same, the equipment suffers from rust, corrosion and reduced lubrication. Transformers have even been known to explode from the loss of dielectric strength in their insulating oil. To a great degree this problem is caused by the water being condensed from the humidity in the atmosphere around the conservator tank that then accumulates in the oil.

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