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One of the ways you - as an owner of service businesses - can increase your profits is to create muliple streams of small busines

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

s income. And the place to start is by designing informational products. The products could be based your knowledge - things like

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

Examples of combination products may in

CDs, e-books, booklets, teleseminars, and articles. You know -- these are the very things you've been watching me develop over th

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

years. And if you're a US resident who has taken one of my TeleSeminars, you may have received one of my "test" CDs in the mail!

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

They include an ebook and audio of the class. And you can create such products, too.

Another way to boost your income is to deve

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

Combination pro

op products that will help your ideal clients. And it's easier then you think IF you really, really, really listen to your client

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

. For example, my clients complained that they had lots of ideas and that I was also giving them even more terrific marketing ide

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

s, some of which could be used "later." Many of the ideas they'd been keeping were written on many bit of paper. (Can you relate?

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

What I heard was that they wanted a SIMPLE way to organize their ideas for future use that did not include rewriting (or retypi

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

g them) in a software program. So, I created SIMPLE IDEAS Folders.

What are other ways to create a variety of packages and produ

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

ts for your service business?

-- Take a service you offer and package it with different products, different services, different

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

Following aspects would a

engths of time (if applicable).

-- Many business owners place a pricing structure on their websites. Using the industry name, pl

dd to the challenges in developing combination products:

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

s the word "rate" or "fees" or "quote," you can find those sites on the Internet.

-- Always consider the client and customer ser

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

ice when pricing your services, too. If what you sell requires training for your customers, you can offer a block of training hou

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

s included in the initial price, with additional training charged separately at an hourly rate of ___. The training hours can be

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

n person, over the phone, or via email.

-- Some people do advertise their prices; others don't. Some people charge by the hour;

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

Professional from academic institutions, pharmaceutical industries, health care indust

thers charge by the project (which is perceived to be more professional).

-- If you list your prices - be specific. List what is

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

included, for how many hours and/or for how many people. You might want to include a form for potential clients to complete so pr

.

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

ces can be calculated.

-- Consider charging a licensing fee. When you create a document for use by your clients, it might be a p

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

Companies that provide selfless information through particip

oduct they want to share with their clients. If so, create a licensing fee policy for that document, ebook, ereport, program, etc

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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