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What effect are the baby boomers having on the economy I hear you ask. Folks, in 2005, the economy

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

IS the boomers!

Boomers represent the vast majority of the work force. There are 76 million of boo

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

Examples of combination products may in

ers in the US alone; they ARE the economy. (That is not an exaggeration; that is a statistical real

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

ity.) Baby Boomers represent only 28 percent of the US population – yet they represent 50 percent

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

f the economy.

The Baby Boomers are obviously aging and because of this are willing to spend anyth

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

Combination pro

ing to stay young, healthy and full of vitality.

So keeping this in mind the NICHE market to take

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

ull advantage of (drum roll please) is the Wellness Industry.

According to research, the wellness

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

industry is headed for over ONE TRILLION dollars by the year 2010. This wellness movement will surp

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

ss the dot com revolution.

Paul Zane Pilzer Economic Advisor to two presidential administrations 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

nd three-times New York Times best-selling author explains The Wellness Revolution.

“The boom in t

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

e Wellness Business is ready to explode in a way never before in our history. At over 12 billion do

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

Following aspects would a

llars in the U.S.A. and Canada this is just the tip of an ever-growing iceberg.”

Paul goes on to s

dd to the challenges in developing combination products:

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

y … “there's a great window of opportunity for network marketing companies to educate consumers abo

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

ut wellness products and services.”

“I see great opportunities coming for the network marketing in

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

ustry because network marketing is clearly the best vehicle we have today, in the United States and

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

around the world, to educate people about new products and services.”

“I see great opportunities

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

Professional from academic institutions, pharmaceutical industries, health care indust

or network marketing and network marketers because they're the fastest way to get the new informati

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

on out there.” (Exerts from An Interview with Paul Zane Pilzer By John David Mann and John Milton

.

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

ogg From Network Marketing Lifestyles Magazine Sept. 2001)

So to summarise, the seemingly untapped

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

Companies that provide selfless information through particip

NICHE at this time is the WELLNESS industry and your market are the BABY BOOMERS.

To your Success

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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In this installment of medical billing and the electronic transmission of claims, we hit one of the most complex fields of the GU0 record. We pick up our review with field number 62.

Whilst salaries are not the only reason why people leave jobs, a team member’s dissatisfaction with pay is very often the catalyst for them to start looking. This means that getting your pay structure right really is a key aspect of retaining the right people. But when it comes to setting pay levels, it is not necessarily about “paying the most”, but more about ensuring that the way you remunerate your team is fair, consistent and competitive. Here are 7 tips to making this happen in your business.

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