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Even the most meticulous and experienced human resources professionals find that handling payroll can be a headache. For many small businesses, payroll services offer an attractive

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

and valuable alternative to in-house processing. They can provide a less expensive, simpler means of paying employees, filing taxes, and performing other essential but mundane tas

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

Examples of combination products may in

s.

Is a payroll service right for your small business?

Extremely small firms with a stable, salaried staff and minimal changes in tax obligations may well be better off pr

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

cessing internally; it can be more convenient and cost-effective if your needs are straightforward.

However, even for small businesses, processing paychecks internally is not alwa

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

s as cost-effective as it appears. At minimum, it costs valuable hours of employee time every pay period plus expensive accounting software and training. In addition, the person wh

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

Combination pro

handles your payroll needs to keep up to date on changes in personnel, deadlines, and tax requirements. Without the proper knowledge of payroll procedure and access to a sound pay

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

oll program, it is easy to make mistakes.

Payroll outsourcing can be an affordable way to remove this burden. If your employees work varying amounts of hours each week or if you h

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

ave significant turnover, a small business payroll service can be a time-saving and cost-effective alternative to internal processing. Using a small business payroll service can al

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

o be helpful if you have to pay payroll taxes for multiple states.

Even if your payroll expenses are quite stable, companies with more than 10 employees may find that the time sav

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

d by outsourcing payroll easily makes up for the low costs.

What do they do?

Small business payroll services typically handle a range of payroll tasks, including calculati

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

g paycheck and tax obligations for each employee, printing and delivering checks, and providing management reports. Paychecks can be issued on a weekly, bi-weekly, monthly, semi-mo

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

Following aspects would a

thly or yearly basis.

Additional payroll-related services that may carry separate fees include automatic check signatures, direct deposit, and handling of W-2s. Many services now

dd to the challenges in developing combination products:

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

ffer tie-ins with 401(k) and Section 125 mutual fund plans, allowing employees to set up automatic deductions from their paychecks.

Many small business payroll services offer the

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

ption of filing state and federal payroll taxes for your business, as well.

How does it work?

Each pay period, payroll data has to be "called in" to the payroll service pr

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

ovider. While this used to be done via a phone call or fax, almost all data is now transferred electronically.

The standard method is by modem. The provider will supply software f

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

r tracking each employee's pay rate, deductions, and vacation time. You simply enter the relevant information for that pay period, and information is automatically transferred to t

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

Professional from academic institutions, pharmaceutical industries, health care indust

e payroll service provider.

Some providers also offer Web-based payroll data entry. You enter employee information on a secure Web page, which feeds directly to the provider. This

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

method is gaining acceptance, but is still less popular than modem-based communication.

How much does it cost?

Basic small business payroll services typically cost between

.

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

$3 and $5 per check, including add-on fees for direct deposit, tax filing, and check delivery.

There are often fees for adding or dropping employees, adjusting employee informatio

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

Companies that provide selfless information through particip

, and setting up your account, and these fees can differ dramatically from provider to provider. Make sure you are looking at comparable pricing when evaluating different providers

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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