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Advice You - Get Value for Your Consulting Dollar
Consulting arrangements can do wonders for a business. They
can provide a boost to your business by utilizing a consultant’s
focused expertise and their years of experience in similar
venues, and they can give a business a good old-fashioned
shot-in-the-arm.
Consultants are distanced from the daily politics of your business. They can p
Consultants are distanced from the daily politics of your business. They can p
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
rovide you with unbiased opinions and
fresh perspectives. The thing is, they can only do this if
you allow them to do it.
I’ve done the consulting gig for years. In the process, I observed and experienced clients using my services well and not using my services well. I have listened to associates’ stories of how clients work with
I’ve done the consulting gig for years. In the process, I observed and experienced clients using my services well and not using my services well. I have listened to associates’ stories of how clients work with
; 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
them,
too. Sometimes the clients get great value for their money,
and sometimes they get less than that.
How to Make the Most of Your Consultant Dollar
Isn’t the most important thing about working with a consultant that you get valuable results for your money and build a meaningful business relationship at the same time?
How to Make the Most of Your Consultant Dollar
Isn’t the most important thing about working with a consultant that you get valuable results for your money and build a meaningful business relationship at the same time?
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
In order to do this, you must go into a relationship with your consultant with ‘collaboration’ in mind. The two of you must work together in order for the consulting relationship to work. As the client, you must be a willing participant in the business relationship with your consultant.
In order to get value for your consulting dollar,
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ou must
allow your consultant to learn and know about many aspects
of your business.
If you go to a doctor with a pain in your side, but then refuse to let the doctor look at it and test it because you’re too modest or afraid of what he will tell you, the doctor won’t be able to help you.
Several years ago I consulted at a company to
If you go to a doctor with a pain in your side, but then refuse to let the doctor look at it and test it because you’re too modest or afraid of what he will tell you, the doctor won’t be able to help you.
Several years ago I consulted at a company to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
help them
use software to create reports they needed. They did not
want to show me their existing reports, however. How could
I help them create the new reports if they refused to show
me the existing reports? Like a patient who was afraid to
show the doctor the pain in his side, this client was afraid
to show me their reports. Two pe
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
ople at this client actually
clutched the reports to themselves like patients holding
their hospital robes closely.
After some explanations and coaxing from me, they finally let me see their pain and allowed me to help them. (Just for fun, I’ll tell you that this company is an underwear manufacturer, and leave it at that!)
A co
After some explanations and coaxing from me, they finally let me see their pain and allowed me to help them. (Just for fun, I’ll tell you that this company is an underwear manufacturer, and leave it at that!)
A co
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
sultant’s role is to give you business information that
you need in order to make informed decisions. They do not
have the responsibility to make your business decisions, nor
do they have the control. The responsibility and control
(which go hand-in-hand) are yours.
Before You Decide to Work with a Consultant
First of all, know w
Before You Decide to Work with a Consultant
First of all, know w
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
hat you want. Define it before the consultant
agrees to work with you. Write it down. List quantifiable and/or
tangible objectives. Write out what you think you want the consultant
to do.
- What goals do you want to accomplish?
- What is the scope of work?
- What results do you want the consultant (and your busines
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
s) to achieve?
What do you think is the timeframe?
What is your budget for this project?
As You and the Consultant Agree to Work Together
Discuss how the consultant works. For example, what methodology does she use to gather information, process it, draw conclusions, and make recommendations? Th
As You and the Consultant Agree to Work Together
Discuss how the consultant works. For example, what methodology does she use to gather information, process it, draw conclusions, and make recommendations? Th
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
re is no magic answer to this question.
Most consultants, over time, will develop their own methodology to
perform their work. Just make certain they have a plan that is the
basis for their methods.
State the scope of work: what the consultant will deliver, when they will deliver it, and how they will deliver it.
State who will
State the scope of work: what the consultant will deliver, when they will deliver it, and how they will deliver it.
State who will
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
do the work (if there is a team of consultants).
Also state where the consultant(s) will perform the work.
Agree on the timeframe, money, and invoicing.
List points of time at which you and the consultant will touch base to discuss where the project is at, how it is coming along, and if adjustments need to be made. It’s a g
Agree on the timeframe, money, and invoicing.
List points of time at which you and the consultant will touch base to discuss where the project is at, how it is coming along, and if adjustments need to be made. It’s a g
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
ood
idea to schedule regular meetings or conference calls so that
issues do not become surprises.
What Else to Look For?
"The worst consultants believe their companies are smarter than their clients, instead of recognizing that they’re extensions of their clients’ resources. Junior consultants in several well-known firms esp
What Else to Look For?
"The worst consultants believe their companies are smarter than their clients, instead of recognizing that they’re extensions of their clients’ resources. Junior consultants in several well-known firms esp
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
ecially show this trait; it’s part of their firms’
core cultures," writes Peter Keen of Computerworld. He continues,
"Arrogant cultures make lousy partners and are in the rip-off
business without realizing it. Because they believe they’re so
much smarter, they make many mistakes that the more collaborative
and respectful consulti
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
g firms don’t make."
Look for consultants who want to form a collaborative effort with you and your business. Likewise, you must collaborate with the consultant in order to get the most bang for your buck.
Two More Do’s and Don’t’s
Treat consultants as consultants, not as employees.
If you treat consultants as insiders r
Look for consultants who want to form a collaborative effort with you and your business. Likewise, you must collaborate with the consultant in order to get the most bang for your buck.
Two More Do’s and Don’t’s
Treat consultants as consultants, not as employees.
If you treat consultants as insiders r
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
ather than as outsiders,
you will not receive the benefits of having them work with you.
This is more of a mind process for you as the client. If you
think of your consultants as an extension of your employee base,
you may not be able to hear them when they tell you important
information. Remember, as outsiders they are able to s
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
kip most
of the politics and inefficiencies of your company in order to
unearth diamonds in the rough. These are the hidden diamonds
you are paying them to find. If you treat them as if they are
employees, you will hinder that creative process for which you
are paying them.
Treat consultants as adults.
Believe it or not,
Treat consultants as adults.
Believe it or not,
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
sometimes clients treat consultants as if
they were children. This happens most often when consultants are
told to not contact certain people for information, even though
the contact and the information is important for the consultant’s
work. I’ve also heard about consultants being scolded as if they
were children.
On the surface, the
On the surface, the
.
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
reason that consultants should not be
treated like children is obvious; no one wants to be treated
like that. It’s humiliating. The deeper reasons are the same
as for not treating consultants like employees: clients who
treat their consultants like children will not get the benefits
out of the consultant that they are paying for.
In
In
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
Conclusion
Working with a consultant can be rewarding for your business. It’s up to you to define your goals, how you want a consultant to help achieve those goals, participate in a collaborative relationship, and let the consultant do their work in order to give you value for your consultant dollar.
© 2006 Borgeson Consulting, Inc
Working with a consultant can be rewarding for your business. It’s up to you to define your goals, how you want a consultant to help achieve those goals, participate in a collaborative relationship, and let the consultant do their work in order to give you value for your consultant dollar.
© 2006 Borgeson Consulting, Inc
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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