Subjects - Business

"How much do you charge?"

The sweetest words to anyone who provides a service. You love to hear

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

them, right?

Unfortunately, if you're not convinced of the value of your services, they might

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

Examples of combination products may in

dismay you, and if you're confused about the prices you charge you'll never make the money you

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

ould be making.

Twenty-some years ago, my then-husband and I strolled through the glittering e

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

xpanse of a new shopping mall doing some late-night shopping. Suddenly he grabbed his chest and

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

Combination pro

collapsed.

The ambulance arrived. They loaded him; I scrambled in behind.

As the ambulance pul

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

ed away, a paramedic asked: "What happened?"

When I told him he said dryly: "It's the prices the

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

y charge. It's the prices they charge..."

Most of the Australian creatives I know charge what

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

the Australian Media Entertainment and Arts Alliance ( www.alliance.org.au ) recommend. The A

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

liance's members are freelance journalists, artists, designers, photographers, PR consultants,

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

and book editors and proofreaders.

The Alliance's recommended rates are low. However, many fre

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

Following aspects would a

elancers charge even less than the Alliance's rates. Why?

Fact: creative freelancers lack conf

dd to the challenges in developing combination products:

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

dence. They're price takers par excellence, and *reluctant* price takers at that. And in case y

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

ou think I'm too down on my colleagues, I include myself in the reluctant price takers. Or I di

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

d. I'm striving to do better and get more of a grip on pricing.

=> Become a price maker by add

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

ng value to your services

Some years ago I watched an interview on Landline (an Australian ABC r

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

Professional from academic institutions, pharmaceutical industries, health care indust

ural affairs TV show) about the owner of a banana plantation who was developing a banana win

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

e.

She said she was tired of being a price taker, she was value-adding to her product because

.

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

he intended to be a price maker: finding new uses for her banana crop enabled her to do that.

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

Companies that provide selfless information through particip

So that's the big clue. If you want to be a price maker, you need to add value to your services

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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There are plenty of things you can do to help reduce event-day challenges in the planning marketplace- making use of event planning software, choosing your venue and suppliers based on careful research, automating as much as possible, etc.

If you happen to be residing in New York you do not have to worry about anything related to hair extensions, that is if you have decide to do this procedure in your hair. Hair extensions New York services are offered by several hair stylists who operate in the city. One just needs to make sure that the hair stylist is sufficiently qualified to carry out the procedure without any hassles. After all one is experimenting with their hairs and their looks so they would not like to do the procedure from a stylist who is not sufficiently qualified.

Spontaneous and informal employee recognition when carried out by immediate supervisors is the best way to recognise good employee behaviour. The rewards need not necessarily always financial. You can reward employees through a number of inexpensive non-financial rewards.

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Subjects - Are You a Price Maker or a Price Taker?

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