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I am often asked what is a reasonable fee to charge my clients. And on the opposite side of the

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

coin – what should I expect to pay for a bookkeeper? A bookkeeper who is honest, trustworthy, re

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

Examples of combination products may in

liable and knowledgeable is worth their weight in gold. You might find a good honest hard workin

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

person, but if they don’t have the knowledge and experience that you need then you only have pa

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

rt of the solution you are looking for.

For bookkeepers check with your local CPA’s for a reali

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

Combination pro

y check of your worth. They often have a good idea of what the market will bear for your area. C

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

onsider your experience and education when setting your fees. If you are just starting out, you

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

ight want to consider the lower end of the scale. However if you are experienced in all phases o

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

f bookkeeping (generally called a full charge bookkeeper) you are worth more and should charge m

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

re. Specializing in niche business types such as construction, retail, artists and art galleries

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

, medical, etc can add even more value to your services.

As for those business owners looking f

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

Following aspects would a

or a bookkeeper, first determine what your needs are. Are you looking for someone to do data ent

dd to the challenges in developing combination products:

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

y of receivables and payables and perhaps write checks? You might consider someone with less exp

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

erience. However, remember your company is probably growing and you should seriously consider yo

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

r future needs. Will you need someone to process payroll? Make general journal entries? Prepare

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

internal financial statements? Do you need someone who can guide you through your financial reco

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

Professional from academic institutions, pharmaceutical industries, health care indust

d keeping needs as your company expands? Better to hire someone who is more experienced now as t

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

hey will be a great asset to your growing company.

A good bookkeeper is more than just a data e

.

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

try person. They are an integral part of your company and as such you should take care to find t

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

Companies that provide selfless information through particip

he right employee or service for your company. Remember the old adage – you get what you pay for

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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If you can grow your business, should you? Personal freedom sometimes means keeping your business small and highly profitable with less financial risk.

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Employees who enjoy interacting with customers and who genuinely want to help resolve problems are a valuable asset to a business.

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