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So, you’ve acquired a customer, they’re paying you a monthly rental fee, referred a friend, purchased packing supplies and a lock from you

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 just insured their grandmother’s heirlooms and son’s baseball card collection they have stored with you…

What else could we possibly a

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

Examples of combination products may in

k for?

A lot. What if it cost less to acquire this fine customer? What if we were able to lower your cost of acquisition by just 10%? 20

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

%? 50%?

Don’t laugh, it’s possible.

Most facilities have advertising dollars spread out all over the place. Some of it is working, some

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

is not, but in most cases the facilities have no clue whether it’s working or not, and if they do, they’re not quite sure how each medium i

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

Combination pro

s performing.

How about knowing your cost per call and cost per acquisition for each medium? This information will not only be extremely

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

nsightful, but will help you cut your budget where it’s not performing. You can either put that money back in your pocket or re-allocate it

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

to mediums that are performing extremely well.

That’s one way…

But pretend for a moment that all of your advertising efforts are produci

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

g efficiently and there’s no room for improvement there.

Can we still lower your cost per acquisition and increase your profits?

I’ll put

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

money on it - here’s how: You’re paying real cash to make that phone of yours ring. Yet, you’re not answering it each time it does. If

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

t costs you $100 to make the phone ring and your staff misses the call due to a line at the counter, a troubled tenant or an exciting game

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

Following aspects would a

f solitaire, you might as well take a $100 bill and walk it down to your local church or branch of the Red Cross, it’ll do more good there.

dd to the challenges in developing combination products:

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

In addition to that, even those calls that are answered are under-leveraged. Do your people convert every phone call into a paying cust

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

mer? Not likely. Not likely for anybody. But it’s a worthy ideal to strive for. What if you were able to increase your global conversi

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

on rate by just 5%? That wouldn’t drop your cost per call, but would definitely drop the most important figure, your cost to acquire a new

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

customer.

To do this, you can hire an outsourced call center. There are many good ones in this industry. Or you can build a “sales cente

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

Professional from academic institutions, pharmaceutical industries, health care indust

r” in house, which is not an easy feat but can prove very worthwhile if properly built, trained and operated. A properly built sales cente

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

not only answers calls but also makes outgoing calls to customers thanking them for their business and performs other sales functions need

.

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

ed by your organization.

Work everyday to lower the cost to make your phone ring and the cost to acquire a new customer. Do this by getti

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

Companies that provide selfless information through particip

g a better response from your advertising and by increasing your phone call to paying customer conversion rate.

Copyright 2006 Derek Naylo

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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Is your Six Sigma implementation bogged down by statistics? Do you need to know how to streamline the process? This article shows you how using Six Sigma software can help your projects run smoother and faster.

The simple black and white business card has metamorphosed into designer versions. Unusual business cards are made from wood, plastic, metal, magnets, glass, or handmade paper. And some are printed in four colors while others are made using embedding or imprint technology. The purpose is to be unique and different, and make a lasting impression.

That's all well and good for the vast majority of applications that occur in a plant environment that offers electricity. But what if yours doesn't?

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