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Don't do it. Why not? You'll spend a lot of money and a lot of time getting certified and learning all the latest platforms and technol

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

ogies. But the reality is that hardware repair is a commodity - a low margin business. And it's becoming more and more of a commodity s

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

Examples of combination products may in

ervice every year as the components become more disposable and more replaceable than repairable. In this article, you'll learn why cons

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

ulting contracts with national service organizations are not the best choice.

Computers Are Now Replaceable

Let's take a $600 consume

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

r-grade PC for example. Who's going to spend money on an out-of-warranty repair on a $600 PC? Who's going to spend money on an out of

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

Combination pro

arranty repair on a $400 laser printer? How much money are small businesses willing to spend on this kind of repair?

Low Labor Allowan

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

ces for Consulting Contracts

Since national service organizations are going to primarily be dealing with warranty repairs on relativel

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

y inexpensive hardware, how much labor allowance do you think they're really going to give up on a $1,200 notebook? Many big hardware v

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

endors are so cash strapped that they're always on the verge of going out of business constantly. Dell, HP, and IBM are pretty much the

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

only major hardware players that are still in reasonably good financial shape (even if you consider IBM in the hardware business anymo

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

e).

The Profit Margin on Repairs in Consulting Contracts

So, what are you going to make on a repair? Fifty dollars? A hundred dolla

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

Following aspects would a

rs? $150 or $200 at the absolute most? You're going to do a lot better by finding small businesses in your area that need high-level

dd to the challenges in developing combination products:

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

professional services on a regular basis.

Consulting Contracts with National Service Providers Aren't Profitable

Acting as a subcontr

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

actor for a national service provider is a really hard way to run a consulting business. Do you want to be in eight different offices

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

every single day, or do you want to be in one or two? Do you want to be billing out at $100 or $150 an hour for high-end network suppo

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

rt services and network integration services? Or do you want to be told that you're going to be allowed a $65 labor allowance to replac

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

Professional from academic institutions, pharmaceutical industries, health care indust

a system board, no matter how long it takes you?

The Bottom Line about Consulting Contracts

Repairing and troubleshooting hardware i

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

s low-end commodity work. It's work that can be done by people that are billing out at $20 or $30 an hour. It's not the high-end consu

.

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

lting you could be doing with consulting contracts. Don't ever confuse the two.

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Copyright MMI-MMVI, Computer Consul

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

Companies that provide selfless information through particip

ting 101. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance

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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