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Digg It - Tales From the Corporate Frontlines: An Unexpected Benefit
This article relates to the Compensation and Benefits competency, commonly evaluated in employee satisfaction surveys. It tells the story of a company that offered a new benefit to its employees, solved the proble
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
m of lagging productivity, and boosted morale at the same time. The Compensation and Benefits competency focuses in detail on how your employees feel regarding their compensation and benefits packages. The questio
; 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
ns included in this competency will help your organization determine whether your employees feel they are fairly paid for the work they perform when compared to a similar job at a different company. This competenc
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
also queries their feelings regarding the adequacy and quality of their benefits package. A fair and attractive compensation package is critical for hiring and retaining quality employees. A high satisfaction lev
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
el in this competency requires that your compensation structure and benefits package be fair, balanced, and understood by your present employees.
This short story, An Unexpected Benefit, is part of AlphaMeasure's
This short story, An Unexpected Benefit, is part of AlphaMeasure'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
compilation, Tales From the Corporate Frontlines. It illustrates how companies can use benefit programs to solve problems and create better work life situations for employees.
Anonymous Submission
An Unex
Anonymous Submission
An Unex
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
pected Benefit
Whenever my company or coworkers engaged in a discussion about compensation and benefits, the talk generally turned to pay rates for specific jobs, raises, or the complexity of various health care
Whenever my company or coworkers engaged in a discussion about compensation and benefits, the talk generally turned to pay rates for specific jobs, raises, or the complexity of various health care
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
plans. Compensation and benefits issues were raised around open enrollment or salary and performance review periods, and pretty much ignored during the rest of the year.
Last year, I was asked to be part of a foc
Last year, I was asked to be part of a foc
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s group on benefits. There was a particular benefit that the company was considering adding to our package, and feedback from the rank and file was requested. The benefit was described as "Employee Back-up Care".
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
I had not heard of it, and neither had most of my coworkers.
At the meeting, the moderator described the benefit. It turned out to be a service- offered by an agency that contracts with the company - that provide
At the meeting, the moderator described the benefit. It turned out to be a service- offered by an agency that contracts with the company - that provide
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
caregivers for the children or elderly dependents of employees in the event that the regular care provider was unavailable. The care is delivered in- home, by workers thoroughly screened by the agency and provide
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
d on an as-needed basis.
Our company was considering offering this benefit because of the large numbers of working parent families and employees now responsible for the care of elderly relatives. It seemed to be
Our company was considering offering this benefit because of the large numbers of working parent families and employees now responsible for the care of elderly relatives. It seemed to be
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
a win-win situation: employees received peace of mind and quality care for their dependence, and the company avoided the lost workdays and low productivity resulting from employees worrying about their charges lef
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
at home or the unavoidable distraction that occurs when they are brought a long to work.
Needless to say, we were interested. Living in a part of the country where winter weather can make school attendance spora
Needless to say, we were interested. Living in a part of the country where winter weather can make school attendance spora
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
dic at best for a few months of the year, another option sounded wonderful. But exactly how does this miracle plan work?
Basically, it is simple. The company selects an agency to partner with in providing the ser
Basically, it is simple. The company selects an agency to partner with in providing the ser
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
ice. The agency is responsible for prescreening and preparing a database of qualified caregivers. The employee is free to call upon the agency for help whenever needed. Usual situations included mild illness, post
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
hospital elder care, schools closed due to holidays or bad weather, business travel, or the temporary unavailability of a regular caregiver. The employer, according to an agreement made with the agency, usually c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
overs costs. Some employers cover the service completely; some share the cost with the employee. Each employee is allotted a specific number of days of service for the year, or a specific dollar allowance.
A few
A few
.
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
onths later, our company instituted this benefit. Though it was unexpected, it is most welcome and appreciated. I would encourage other companies to look into back up care as an addition to their compensation and
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
benefits packages.
© 2005 AlphaMeasure, Inc. - All Rights Reserved
This article may be reprinted, provided it is published in its entirety, includes the author bio information, and all links remain active
© 2005 AlphaMeasure, Inc. - All Rights Reserved
This article may be reprinted, provided it is published in its entirety, includes the author bio information, and all links remain active
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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