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Advice You - Your Company Without Training - Any Questions?
Okay, be honest!
Are you guilty of sticking in a few boring videos and calling it training?
Do you send in your department heads to del
Are you guilty of sticking in a few boring videos and calling it training?
Do you send in your department heads to del
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
iver a few, rushed, canned presentations and call it orientation?
Are you then surprised when your new employees don't live up to your e
Are you then surprised when your new employees don't live up to your e
; 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
pectations, and your employee turnover numbers keep rising?
What if you took the time and money that you spend on employee recruitment a
What if you took the time and money that you spend on employee recruitment a
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nd put it into employee training? Would it make a difference? Would it be worth the effort?
You Bet it Would!!
Take, for instance, The
You Bet it Would!!
Take, for instance, The
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ontainer Store, who has made the top of Fortune magazine's “100 Best Companies to Work For” list for the 6th year in a row! In an employe
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e's first year they offer over 241 hours of training, far exceeding the training hours offered by other retail stores. In the next 18 mon
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
hs they are slated to open 5 more stores, creating over 6000 more jobs!
More impressively, the retail industry averages 150% employee tu
More impressively, the retail industry averages 150% employee tu
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
rnover, but The Container Store averages only 25%!!
Learn also, from ACTS Retirement Life Communities, a Continuing Care Retirement Corp
Learn also, from ACTS Retirement Life Communities, a Continuing Care Retirement Corp
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ration, based in Pennsylvania with additional locations in Florida, Georgia and North Carolina. Several years ago, retired CEO Rev. Georg
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 Gunn launched a program to combat high employee turnover.
One components of that program was to launch ACTS Corporate University. The
One components of that program was to launch ACTS Corporate University. The
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
niversity offers 70 different courses to all employees of their company. "It's touching to watch some of our direct line employees walk a
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
cross the stage, accepting their diploma for an 8 week class, so full of emotion for what they've accomplished," says Rev. Gunn.
Not onl
Not onl
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
has the University helped their employees do a better job, there has been a tremendous reduction in employee turnover. Their turnover, w
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
hich was 38% in the year 2000, was already low for an industry that has a national average ranging from 40-100%. However, after implement
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
ng their program, which included the University, employee turnover landed at a low 17.5% in the year 2004. In addition, their employee sa
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
tisfaction ratings AND their customer satisfaction ratings are extremely high.
Does it cost money to develop a training program that mak
Does it cost money to develop a training program that mak
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
s a difference? You bet! Is it worth it? No question!
Studies done by the Saratoga Institute estimate the cost of employee turnover to b
Studies done by the Saratoga Institute estimate the cost of employee turnover to b
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e between 100%-200% of the employee's salary. Spend the money up front with training and you could cut your recruitment costs - in both t
.
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
me and money - substantially. You'll also be ensuring that your employees are delivering the best service to your customers.
High Turnov
High Turnov
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
er, Bad Service - This is your company without training.
Low Turnover, Star Service - This is your company with training.
Any questions
Low Turnover, Star Service - This is your company with training.
Any questions
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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