Subjects - Finance

There are many myths floating around about debt consolidation and related matters. These myths are spread all the over the USA. This ar

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

ticle is supposed to explode a few myths, which can help the reader to understand better what they need to seek when shopping for debt

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

Examples of combination products may in

consolidation.

Myth no 1 – debt management and credit counseling are one and the same: this can never be further from truth. On

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

is advice to handle debt and the other is a tool used to effectively use your payments for fastest repayment possible. Hence, these 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

erms though they sound so similar are not interchangeable. While debt management is action, credit counseling is generally speaking, th

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

Combination pro

ory.

Myth no 2 – you can half your debts by using a credit counselor: Many times it is like magic – what you see is not actuall

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

y what you get. You see a reduction in payment of the bills – that does not mean under any circumstances that the payment due has been

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

reduced. What actually happens is that the credit counselor re-negotiate on delayed payments and get the bills back to the rates that y

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

ou had when the payment were on time. This is done not by waiving away the outstanding, but by pushing back into the major mass of debt

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

outstanding the excess from the monthly bills – so you can at least the monthly bills.

Myth no 3 – there are organization which

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

offer lower rates – there is no such thing as lower rates. This is the most tragic myth and one that is almost impossible to wipe out

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

Following aspects would a

from people’s minds. The agencies always advertise their lowest rates possible – but you should know that those rates are only viable

dd to the challenges in developing combination products:

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

or excellent credit rating. When any agency dips below the main rates average – do not take is as the best rate available – but as the

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

fraud rate available. The ad is almost always to attract attention and clients – there will be sufficient hidden costs to make up for t

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

e advertised “low rate”

Myth no 4 – get hold of a debt management program/ agency which can negotiate lower DMPs – beware that

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

when you enter into this agreement you are totally destroying your credit rating. It so happens that the DMP can indeed negotiate lower

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

Professional from academic institutions, pharmaceutical industries, health care indust

rates – but how? They hold onto the cash till the bank is ready to wipe off your credit for 5% to 100% - when you accept this – you gai

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

n the cash – but you greatly loose on your credit rating

Myth no 5 – Debt settlement is the best way to get out of debt – this

.

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

rick will actually mark your credit for good; and secondly this is not ethical in the real sense of the word. Beware, when you think of

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

Companies that provide selfless information through particip

this – many times this can backfire pretty badly on you. Also you are liable to pay tax on the money your debtors agreed to “give” you

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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