Subjects - Business

Stop Team Deterioration-- Part 1

Your team may be deteriorating.

This may be in the form of employees that are detrimental to the team are allowed to continue on this rampage without recourse or termination.

Your t

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

eam may be losing members in the form of turnover.

If this is the case, you need to find out how much this is costing you! Find out how expensive Employee Turnover is by getting my Doctor’s Employee Turnover Calculator Pro

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

Examples of combination products may in

ram. Email me at articles@extremesuccesscoaching.com with the subject line “Doctor’s Employee Turnover Calculator Program”. Include your name and address and I will be happy to send it to you immediately.

Turnover is 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.

consuming, money consuming, and stress causing. Turnover rates in healthcare are higher than in most other professions at over 20%. This is believed to be because of high stress situations with patients and short staffed l

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

ng hours.

You may or may not have a problem with turnover, but I will discuss it nonetheless because it is quite widespread and very expensive.

Usually physicians are shocked to see the price they pay every time they lose

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

Combination pro

r fire an employee.

It is worth your time and effort to acquire an estimate of lost fees to turnover in order to determine exactly how serious the situation is. This makes decisions for allocating funds to retention strate

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

ies easier and less stressful.

Why do employees leave?

The reasons are many and complex. But to summarize the most common reasons…

Poor Pay Rate
Manager or immediate boss’s attitude or
Loss of trust and

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

confidence in leaders often in the form of a “dangled carrot” promotion
Stress among employees
Feeling devalued and unrecognized
Stress of practice

The Bad News

Employee turnover costs can be substan

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

ial. The U.S. Department of Labor states that it costs a company at least one-third of a new hire's annual salary to replace an employee.

It has been estimated that replacement costs can average 100 percent of a position's

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

salary. A VHA study showed that the dollars saved by reducing turnover are considerable. The study also found that organizations with low turnover have lower costs per adjusted discharge, a higher return on assets, a lower

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

djusted mortality index and a shorter adjusted length of stay.

High employee turnover affects the quality of care, which can causes patients to go elsewhere and affects the bottom line.

The workers who stay on the job are

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

Following aspects would a

hallenged by short staffing, and lack of knowledge among co-workers who enter the incessantly revolving door. This causes employee dissatisfaction unnecessarily. Patients are less likely to be pleased with their care when t

dd to the challenges in developing combination products:

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

ey experience constantly changing staff.

At more than 20 percent, the employee turnover rate in health-care organizations is 5 percent higher than average in most other types of establishments.

Take into account though, in

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

some practices it is quite a bit lower than in others. Hence, turnover is not simply a fact of life. Some facilities are finding ways to keep staff.

More Bad News About Turnover

Productivity continues to be negative

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

ly affected even after a new employee is hired. Other staff members must devote time to assist in training the new employee and help resolve errors that inevitably occur in a new employee's work. Human resource professionals

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

have estimated that even when employees receive the highest-quality training, a new employee's productivity level is only 25 to 50 percent that of experienced employees during the first three months of employment, and the ne

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

Professional from academic institutions, pharmaceutical industries, health care indust

employee is likely to take at least a year to become fully productive.

High turnover sometimes means that patients are simply turned away, or that those patients who are admitted do not receive essential care from overwork

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

d staff. In short, high turnover rates “produce the antithesis to consumer-defined quality”.

You need to allocate part of every week to being among the staff members connecting with them at every level possible. Tap into w

.

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

at motivates each employee. You need to know what stimulated their interest in health care in the first place, what keeps them coming back day after day and what saps their energy or enthusiasm. Herein lies the key to makin

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

Companies that provide selfless information through particip

a better team and better service for you patients.

In Part--2 of this article series I will go over each of the mentioned reason why employees leave in depth and give strategies for eliminating these! Are you ready?

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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Subjects - Medical Practice Management-- Stop Team Deterioration Part 1

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