Advice You - Business

All small business owners dream of greater leverage which means the reaping large profits from a simple inexpensive tool. So they look

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

around for tools, tactics or software that will give them an edge. But they miss one of the most effective tools that sits right unde

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

Examples of combination products may in

their nose. The profit-building tool that most small business people miss is the toll free number.

Independent surveys have shown th

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

t toll free numbers can increase your business’ sales, improve the branding and perception of your company and significantly increase

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

he value of your business at the point of sale. Below are 3 critical reasons why you should get a toll free number for your small busi

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

Combination pro

ess today.

Reason 1. You’ll Enjoy Increased Sales

Vanity or custom toll free numbers such as 1 800 WORKOUT are proven to increase sa

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

es. PRWeekly stated that such numbers result in more calls that are better qualified both by desire for - and also the ability to buy

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

- the product or service. With the right phrase, a specific number for your business will make an instant bridge in your customer's mi

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

d between a desire she has and your product or service.

Reason 2. You Can Increase The Asset Value Of Your Business At The Time Of Sa

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

e

Smart entrepreneurs think differently. They don't just see their small business as a vehicle for creating sales. They see it also a

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

a potential commodity for future sale. They know that the greatest cash windfalls in business can come from selling the whole company

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

Following aspects would a

And a toll free number can help you sell for a significantly higher than you might expect…

Much like internet domain names, a good v

dd to the challenges in developing combination products:

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

nity toll free number will appreciate in value over time. For instance, 1 800 COMPUTER has recently been valued at $500,000! While you

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

may not easily find million-dollar 800 numbers, there are still opportunities to be found in 877 and 866 area.

Reason 3. You Could Ea

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

sily Make A National Brand Out Your Small Business

If you were looking to buy from 2 companies and the first company had a toll free

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

umber and the second didn't which would you call? If you're like most consumers the answer will often be the first one. But there's al

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

Professional from academic institutions, pharmaceutical industries, health care indust

o evidence that you'd trust the first company more. Consumers perceive companies who have toll free numbers as being bigger, better, m

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

re reliable and longer established.

If toll free numbers can do all this for a small business, why do so few small companies use them

.

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

The answer is their perception of the cost. Home or small business people expect these services to be expensive. Nothing could be fur

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

Companies that provide selfless information through particip

her from the truth. A toll free number service can be obtained for less than $15 a month and a vanity number could be obtained for $30

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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