Advice You - Business

Do your clients know all that you do and have done? Are they proud and honored to have the privilege to work with you? Or are you a run of the mill ever

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

yday doctor that treats them in a quick and friendly manner, and then moves on to the next patient, not to be thought of again until their next ailment?

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

Examples of combination products may in

When you share information about what is going on with YOU with your patients, they not only get a chance to know you, they get the opportunity to lear

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

n about you and tell their friends.

The truth is people like to brag.

People hire a coach - they brag about it to all their friends. They hire a perso

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

al trainer, go on a vacation, meet a movie star, they tell all their friends about it. They brag.

And what happens when they brag?

Not only are they a

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

Combination pro

le to start a conversation with their friends, but it is also creating a "want" in the people they are bragging to. These people may share the story wit

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

h more of their friends. These people may want to see you too.

There are a couple sides to this topic, so let's take a look at this for a minute.

Firs

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

and foremost, you need to and should be on a continual quest to learn and grow, not only as a business person but as an individual as well. This statem

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

ent could mean a variety of things to a variety of people.

A few examples:

-Participating in a strong mastermind group

-Writing a book

-Speaking at

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

onferences

-Winning at baseball

-Taking karate lessons with your kids

-Trying different exercise regimens or vitamin supplements

-Being published in

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

the paper or other publication

-Having a radio show

-Being an expert at something

-Interesting hobbies that are a conversation starter

The list can

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

Following aspects would a

go on and on. Notice most of the ideas I listed involve something besides doing your day-to-day work. Unless you are an author, writing a book is not so

dd to the challenges in developing combination products:

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

ething we do on a daily basis. But writing one is something you can share with your patients. Being a published author or speaker is something you can t

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

alk to your patients about (you don't have to be bragging - they can do the bragging for you). This makes them proud to be seeing you, because they see

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

ou as an esteemed person.

There is a pediatric practice by my home and one of the pediatricians authored a book with several other doctors. When I am t

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

lking with "the moms" about which pediatrician we see there is inevitably one or two that see "the one in Louisville that wrote the book". Even though I

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

Professional from academic institutions, pharmaceutical industries, health care indust

've heard the story several times, someone inevitably asks what the book is about and where their practice is located.

You are helping your patients ha

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

e things to talk about with their friends, and you are getting your name brought up in the conversation, which leads to referrals.

In order for this to

.

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

happen you need to be doing something besides doing the day-to-day routine of your work. You need to go the extra mile and do something out of the ordi

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

Companies that provide selfless information through particip

ary.

Be creative, have fun, and most of all help your patients out. Give them something to brag about -- you.

Copyright (c) 2007 A Marketing Connectio

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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Friends and family can either be your best asset or your worst enemy. Those same people who nurtured you when you were young and supported you in your endeavors may not be the best people to take your business advice from. Simply looking at the average citizen who is heavy in debt, fearful of their jobs and watch more television than they do in other activities should give you some idea about whether or not these close friends and family will be a help or hindrance to you.

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Once an entrepreneur has grown from working in his basement or garage to having employees the question about benefits will ultimately rise. That leaves small business owners in cross roads between spending money on benefits and spending money on growth.

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Advice You - Do Your Patients Have Bragging Rights?

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