Advice You - Business

Outsourcing conjures up images of large corporate organizations and tenders for jobs such as cleaning services, facility management, etc. But outsourcing can include anything from word-processin

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

g services, database management, website content management to copy and fax services. The list is limited only by your imagination. The services outsourced by a small business will usually be pr

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

Examples of combination products may in

vided by a business support services provider.

What kind of services can a small business outsource? Whether you are a one man business running from a home based office or have your own premise

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

with some staff, the services that can be outsourced include administrative services, event planning, accounting/bookkeeping, recruitment, payroll, procurement and so much more.

The best way t

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

find out what you can personally outsource is to keep a work diary for a few days. While this may be time consuming and tedious, it will show up all those tasks that can be performed by somebod

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

Combination pro

else while you get on with the business of growing your business.

The best way to find out what you can personally outsource is to keep a work diary for outsource your admin tasks a few days.

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

hile this may be time consuming and tedious, it will show up all those tasks that can be performed by somebody else while you get on with the business of growing your business.

The benefits of

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

outsourcing for a small business owner are numerous. You save money by not having to pay a full time salary for services you only require part time. You also save money on equipment, and the ine

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

itable huge phone bills that will result from having a not too busy assistant sitting in your office with nothing else to do but call his/her friends. And most importantly you give your self mor

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

time to make more money and reduce your stress levels.

Finding a good business support services provider is essential to reaping the full benefits of outsourcing. So you need to research your

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

otential provider and ensure that their work methods are compatible with yours. A good provider will take the time to learn about you, your business and your customers. In no time, you’ll wonder

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

Following aspects would a

how you ever did without one.

Some questions to ask when choosing a business support services provider for your business:

What are the fees and fee structure? If you know you will need their s

dd to the challenges in developing combination products:

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

rvices on a regular basis, ask about retainer rates.

What is their confidentiality policy? This is very, very important, as you want to ensure that anyone carrying out work on your behalf maint

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

ins a strict confidentiality policy.

When is payment to be made? This could be at the end of the project or, if you are using a retainer service, then it may be once a month.

What is the metho

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

d for sending/receiving work? Given today's technology you would be surprised at how many options there are for sending and receiving work.

Thanks to the internet, it’s now much easier to work

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

ith your business support services provider. Communications technologies now mean that you don’t have to physically be in the same place to collaborate. You can send work to your provider via em

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

Professional from academic institutions, pharmaceutical industries, health care indust

il, fax or regular mail. You can also keep up to date with developments via email. There are also various collaboration tools available on the internet which allows you to share files.

Bill Gat

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

s, Time Magazine, March 22, 1999 VOL. 153 NO. 11 - "As a business manager, you need to take a hard look at your core competencies. Revisit the areas of your company that are not directly involve

.

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

in those competencies, and consider whether Web technologies can enable you to spin off those tasks. Let another company take over the management responsibilities for that work, and use modern

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

Companies that provide selfless information through particip

ommunications technology to work closely with the people -- now partners instead of employees -- doing the work. In the Web work style, [you] can push the freedom the Web provides to its limits"

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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A comparison test of three different ways of creating business cards: Using your inkjet printer, a rubber stamp, or a professional print shop. The results might surprise you

Do you make the following mistakes in your job search? If so, stop now. And start getting more calls for job interviews.

Your prospect mailing lists should be as targeted as possible. General-purpose mailings are less likely to succeed. What are the characteristics of your existing customers? Like as not, you should be targeting more of the same.

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