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Digg It - Your Credit Card - Know It Like It's Your Best Friend
The use of credit cards in Australia is escalating possibly on the back of a good economy breeding confidence although do people know how to service this debt and how
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
much it could be costing?
Australians owe $32 billion in credit card debt, according to Reserve Bank figures, and some experts predict this will balloon to almost $50
Australians owe $32 billion in credit card debt, according to Reserve Bank figures, and some experts predict this will balloon to almost $50
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
billion by 2009.
Thats a staggering figure and as it would it appear it's definately on the rise with Baycorp Advantage, a credit information provider, saying that cr
Thats a staggering figure and as it would it appear it's definately on the rise with Baycorp Advantage, a credit information provider, saying that cr
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
dit card applications were up 11 per cent on last year with 875,000 applications for credit cards in October, November and December.
This is the concern, only seven y
This is the concern, only seven y
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ars ago, the fees incurred on cards was $136 million but they have now soared to a staggering $787 million. This is partly due to an increase in the charge for late pa
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
yment from $20 to $29.
Analysts it would take five years of minimum repayments to pay off the $2399 shown by the Reserve Bank to be the average credit card debt in De
Analysts it would take five years of minimum repayments to pay off the $2399 shown by the Reserve Bank to be the average credit card debt in De
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
ember. The average credit limit rose to $6754.
This probably doesn't apply to Australia alone as the trends in other countries are very similar.
From these figures i
This probably doesn't apply to Australia alone as the trends in other countries are very similar.
From these figures i
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
could be seen that there is a lack of knowledge on how to use credit effectively and safely and also possibly a lack of research into the terms and fees related to th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
particular card being used. Some say this could be due to the heavy marketing around bonus point systems shifting the customers decision making from 'terms and condit
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
ions' to 'what do i get for nothing'.
Consumer groups have renewed calls for reform of the Uniform Credit Code to stop banks promoting unsolicited limit increases, an
Consumer groups have renewed calls for reform of the Uniform Credit Code to stop banks promoting unsolicited limit increases, an
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
requiring them to print warnings of how long it will take to repay their debt at current interest rates.
Credit cards are not all bad though. Credit cards are conven
Credit cards are not all bad though. Credit cards are conven
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ent and safer to carry than cash. You can also earn rewards or get cash back on your purchases. They can also help build your credit rating. Sensible and disciplined u
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
e are important as well as a good understanding of how your particular card applies charges and choosing the right credit card for you in the first instance.
The impo
The impo
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
rtant factors should be considered when applying for and using a credit card. Asking questions of yourself is probably the first step. For example 'Do I need a credit
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ard' and 'Will the payments fit into my budget'.
Choosing the right card should involve at least reviewing :
The interest rate - Some cards offer an attractive honey
Choosing the right card should involve at least reviewing :
The interest rate - Some cards offer an attractive honey
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
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
oon rate although it is the rate after this that is important.
The interest free period - this can differ from card to card.
How is the interest calculated - from th
The interest free period - this can differ from card to card.
How is the interest calculated - from th
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
time of purchase or time of statement?
The annual fee - some time bonus systems are offset by this annual fee.
Administration fees - are there any and what are they
The annual fee - some time bonus systems are offset by this annual fee.
Administration fees - are there any and what are they
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
?
Late payment & over the limit fees - when does it apply and how much?
Other charges - what other charges are there?
Cash advance - if you are going to use review
Late payment & over the limit fees - when does it apply and how much?
Other charges - what other charges are there?
Cash advance - if you are going to use review
.
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
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
he conditions carefully and be aware of how it works and what charges apply.
Credit cards are a useful item by offering buyers protection in some cases by being able
Credit cards are a useful item by offering buyers protection in some cases by being able
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
o cancel transactions, offering convienience by eliminating the need to carry cash and an almost necessity for travellers. Research and discipline are the keys success
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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