Advice You - Business

Are you running your payroll in-house to save the cost of an outside provider? If you are a supermarket or retail chain or a smaller enterprise with a few outlets then yo

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

u will be familiar with the challenges of safe and timely distribution of payroll checks. If you distribute them physically it is a costly and sometimes unreliable exerc

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

Examples of combination products may in

se resulting in employee disappointment or increased cost for the company to prevent potential mishaps.

Payroll in the US is significantly different to payroll in Europe

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

where all employees have bank accounts and over 90% of the payroll is transferred directly from the employer’s to the employee’s bank account. A large percentage of US

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

actory and supermarket workers do not have a bank account and require cash or a check, which they will cash with a check cashing place for a fee of 1% to 2%. This is why

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

Combination pro

employers are often forced to pay by check on payday.

Making things more complicated for US employers is that mostly employees get paid every two weeks, to assist them

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

n their cash management. In Europe more than 98% are paid once a month. In Europe only day laborers and building workers are paid daily but usually once a week.

Once a

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

organization is using a particular payroll software it is often difficult to change to another system or simply impossible without a large cost factor.

These days, it i

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

almost the standard that remote locations of almost any size organization will have a permanent Internet connection, allowing fast data transfer between headquarters and

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

the remote location, a cost efficient electronic solution to the problem should be possible.

The common denominator for all payroll systems, running on Windows, Apple o

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

Unix type workstations is that the checks will ultimately be printed to a Network Printer. This is where state-of-the-art printer output management software can be empl

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

Following aspects would a

yed to deliver the check to the remote site and print it on demand, or better on identification of the person allowed to print the checks at the remote site.

Another mor

dd to the challenges in developing combination products:

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

sophisticated and more automated way is to have the printer and the check stock in a lockbox and the actual employees identify themselves, at the check printer, to recei

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

ve their check. Here corporate ID cards and biometric information can be combined to ensure the right person collects the check. Also as the check gets delivered direct

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

y to the employee there is no cost for envelopes or logistics to have envelopes available for the check run.

This is one way to solve this issue and requires printer out

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

ut management software that allows the print job to be put into a print queue where it remains until the person with the correct authority identifies on the printer, whic

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

Professional from academic institutions, pharmaceutical industries, health care indust

may be at a remote site.

As it is a form of money that is being electronically transferred, it becomes of paramount importance for the output management software to enc

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

rypt the print stream and decrypt it on or in the printer.

Risk factors that have to be considered are the failure of the check printer or the check printer being out of

.

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

paper. For backup reasons, if the check printer fails, you may still have to send a courier with the checks or a trustworthy employee to give it to another trustworthy e

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

Companies that provide selfless information through particip

ployee at the remote location for distribution. However, electronic delivery sounds the way to go, with less handling and less management at about the same or lower risk

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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Several free business grants are provided by the government for the business-minded person. If you think you have a profitable business or that your business needs additional funding for expansion then several free business grants are available to cater to your financial needs.

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