Advice You - Business

Virtual Assistants are fast becoming a popular industry. It is through education that this field is beginning to truly grow. Hopefully someday soon people will be asking, “Who is your Virt

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

ual Assistant?” rather than “What is a Virtual Assistant?” Virtual Assistants are the key to allowing small business owners to truly create a thriving. Before deciding to work with a Virtu

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

Examples of combination products may in

al Assistant there are six questions that need to be answered.

What is a Virtual Assistant?

First and foremost, you must understand what the term means. Simply put, a Virtual Assistant i

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 a business owner who offers administrative support, virtually. The International Virtual Assistant Association defines a Virtual Assistant as “an independent entrepreneur providing admin

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

istrative, creative and/or technical services. Utilizing advanced technological modes of communication and data delivery, a professional Virtual Assistant assists clients in his/her area o

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

Combination pro

f expertise from his/her own office on a contractual basis."

Why would I want to work with a Virtual Assistant?

There are many advantages! First, there are no hidden costs. The Virtual A

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

ssistant takes care of his or her own expenses including office space, equipment, computers and software, and all wage-related expenses. A Virtual Assistant is not like other employees; in

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

stead she becomes a member of your team and has a stake in the success of your company. If you don’t succeed she won’t succeed.

Most Virtual Assistants have many years administrative expe

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

rience and can handle a variety of tasks. Many work outside of traditional business hours to provide flexibility. With a Virtual Assistant on your team you have an opportunity to grow your

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

business rather than just maintain it. You can get back to the things you love doing…while the tasks on your TO DO list are looked after.

How do I find a Virtual Assistant?

Internationa

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

lly, there are three associations that list Virtual Assistants – VA Networking (www.vanetworking.com), International Virtual Assistant Association (www.ivaa.org) and International Associa

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

Following aspects would a

tion of Virtual Office Assistants (www.iavoa.com). There are also two associations that list Virtual Assistants in Canada – the Canadian Virtual Assistant Connection (www.cvac.ca) and the

dd to the challenges in developing combination products:

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

Canadian Virtual Assistant Network (www.canadianva.net). Thanks to technological advances, a Virtual Assistant doesn’t need to live in close proximity as communication is available through

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

email, facsimile, Internet, and telephone.

What can a Virtual Assistant assist me with?

Virtual Assistants can assist you with everything from basic administrative functions (document p

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

reparation, correspondence preparation, transcriptions services, etc.) to specialized services such as Web site design and maintenance, bookkeeping, ghostwriting and editing services, mark

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

eting and event planning. Each Virtual Assistant has his or her own skill set and services. Many have established connections with other Virtual Assistants and will contract out specialize

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

Professional from academic institutions, pharmaceutical industries, health care indust

d work or direct you to another Assistant.

How do I communicate with a Virtual Assistant?

The most popular methods in communication are email and telephone; however, facsimile, courier,

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

and postal services are often used. Many who have worked with Virtual Assistants have set up post office boxes that are accessed by the Assistant to ensure all client correspondence is han

.

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

dled directly by the Assistant.

Is there anything a Virtual Assistant can’t do for me?

A Virtual Assistant can perform any task that an in-house assistant can …except make your morning c

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

Companies that provide selfless information through particip

offee.

Now armed with this information, I am sure you can see how partnering with a Virtual Assistant truly does make good business sense. It is a key step in creating a thriving 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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