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Digg It - Don't Sweat the Small Stuff with Your Credit Policy
Do you know how many customers you have that are past due ri
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
ght now? How many bad checks are sitting on your desk that y
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ou don’t know what to do with? How many dunning letters do y
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ou send out a month?
How would you like to answer those que
How would you like to answer those que
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
stions with none, or very few? In a new book, “Become the S
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
queaky Wheel,” Michelle Dunn, explains and outlines some eas
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
y procedures you can use to erase bad debt, and prevent it i
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
n the future.
“One thing that is often overlooked is how to
“One thing that is often overlooked is how to
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
prevent future credit issues,” says Michelle Dunn. “I am a
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
lways amazed at how creditors will hire someone to collect t
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
he bad debt they have but do nothing to prevent future probl
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ems.”
“Business owners should implement a credit policy bef
“Business owners should implement a credit policy bef
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ore they start their business, it should be included in the
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ir business plan,” says Dunn. If you’re an existing busines
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
s with bad debt, you can create a credit policy and implemen
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
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
t it with existing and future customers right now.
If you h
If you h
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ave a pile of bad debt, it is never too late to implement a
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
credit policy. The sooner you do it, the better your chance
.
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
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
s are of collecting what is already owed to you and preventi
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ng future bad debt, so you won’t be in this situation again.
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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