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If you have ever missed a payment or gone over your overdraft limit then you will know about the expensive fees that you have to pay. One late pay

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

ment can trigger a fee that puts you over your overdraft limit, hence leading to another fee. If you want to avoid spending money on bank fees the

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

Examples of combination products may in

here are some useful tips to help you.

Create a schedule

The first thing you need to do is to create a payment schedule for the bills that you

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

need to pay each month. If you know exactly when and how much your bills are likely to be then you will be better prepared to pay them when the ti

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

e comes. If there are bills that can be paid at any time of the month, then schedule a time that is most convenient for you.

Prepare a budget

On

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

Combination pro

e you know when and how much your bills are going to be, then you should create a budget to plan how much money you require each month in order to

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

pay your bills. If there are bills that you are unsure about the exact amount, then it is better to overestimate, as this will keep you safely wi

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

hin agreed monetary limits. Creating a budget will help you to spend only what you can each month so that you avoid overdraft fees.

Agree an over

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

draft

If you regularly go below the amount of money you have in your account, then try and agree an overdraft with your bank. Although agreed ove

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

drafts still often carry interest rates, the payment amounts are much lower and you will not be charged large fees for an unauthorised overdraft.

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

f your credit history is fairly good then you should be able to agree an overdraft level to suit your needs. If you don't use it then great, but i

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

Following aspects would a

t will be there if you need it and will help you to avoid expensive fees.

Change bill payments

If you have a lot of bills to pay it can get conf

dd to the challenges in developing combination products:

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

sing, especially when bills need to be paid at various times throughout the month. If possible, speak to the companies that you are paying bills w

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

ith and fix a date or two where you can pay most of your bills. This will make it quicker and easier to pay your bills and mean you are less likel

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

to forget.

Online banking

Another way to pay your bills quickly and avoid late fees is to use online banking. If you have queue at your local b

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

anch to pay a bill and you are busy then you might not have the time. With banks shutting over the weekend you might find yourself being a few day

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

Professional from academic institutions, pharmaceutical industries, health care indust

s late with a payment that will cost you money. To avoid this you should use online banking, as you can make payments whenever you want in just a

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

ew clicks. This will help you to make payments on time and save you a lot of money in fees.

Talk to your bank

If you know that there is a chance

.

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

a payment will be made late, you can always speak to your bank about it. If you let your bank know the payment has been sent then they might be a

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

Companies that provide selfless information through particip

le to waive any late fees. Although this doesn't always work, banks are generally more lenient if they know in advance that a payment will be late

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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