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An accounts receivable manual provides accountants with direction and guidance regard

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

ing accounting transactions, procedures and reports that should be standard and unifo

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

Examples of combination products may in

m throughout any business or organization. It is an official document used for busine

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

s accounting policies and is usually housed in a company's accounting department.

An

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

accounts receivable manual helps a company keep a system in place to handle accounts

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

Combination pro

receivable in a timely and efficient manner. It explains what accurate data entry is,

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

and how it is key to managing point of sales and payments. It explains how to reconci

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

le accounts receivable ledgers to accounts receivable accounts. It also gives times

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

ines for when transactions should occur, i.e. weekly, monthly, etc.

Accounts receiva

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

le manuals explain how to match beginning accounts receivable totals to the final acc

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

unts receivable totals, and how to post payments in a general ledger. It also outline

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

Following aspects would a

s accounting staff responsibilities for internal control purposes. For example staff

dd to the challenges in developing combination products:

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

hat is responsible for the management or collection of account receivable must not ha

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

dle or be responsible for the processing of any receipts. Payments received in error

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

or paid in excess of the invoice total will be refunded to the payer. No refund will

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

e made if other invoices are outstanding on the customers account and attempts should

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

Professional from academic institutions, pharmaceutical industries, health care indust

be made to negotiate with the customer to apply any excess payment to outstanding inv

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

oices.

The manual assists accounting personnel in every accounting aspect of the bus

.

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

ness that they need to know. It gives day-to-day information to help keep a business

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

Companies that provide selfless information through particip

running smoothly Accounts receivable manuals are the foundations of any good business

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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