Just Other Articles

Managers and human resource professionals often struggle with the linking of performance management and perf

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

ormance appraisal to performance pay or merit pay. It makes intuitive sense to reward the most valuable empl

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

Examples of combination products may in

oyees, but the practice is not a simple one, since it is common to create undesired and unanticipated side e

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

fects regardless of how you go about the task of using performance appraisals to determine raises. Here's so

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

me guidance, adapted from Performance Management - A Briefcase Book, by Robert Bacal (McGraw-Hill)

First, t

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

Combination pro

ere is no "best" way to link pay or salary to employee performance, and no best way to implement merit pay.

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

There is only a "best" way in your situation or company, and what works in one place may not be best in anot

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

her. So, you need to decide based on what you want to create, your circumstances, and the culture of your co

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

pany. However, here's an approach.

Acknowledge that no pay for performance system is perfect. Nor is there

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

a perfect way of accurately assessing the value of employee contributions. So, is there a "best way"?

If yo

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

want to tie pay to performance, here's how to do it. You make it a part of the performance planning process

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

Following aspects would a

. You establish the criteria for a pay increase when you set objectives and standards. So, at the beginning

dd to the challenges in developing combination products:

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

of the year, each employee should know what he or she needs to achieve in order to receive the pay increase

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

r bonus. You don't tie pay to ratings or rankings. you make sure the criteria are as objective and measurabl

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

e as possible to reduce arguments. And, finally, no surprises at the end of the year.

Also, take the positi

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

n that it is your job (as the manager) to help each employee hit that target, make that extra money, or get

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

Professional from academic institutions, pharmaceutical industries, health care indust

the bonus. Make it clear that you'll do what's necessary to help every employee succeed.

In this way, you a

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

nd the employee work together on the same team.

(c) 2007, Robert Bacal, Bacal & Associates. You are welcome

.

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

to "reprint" this article online as long as it remains complete and unaltered (including the "about the auth

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

Companies that provide selfless information through particip

or" info below) all links are made live, and this copyright notice and indication of authorship are included

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.justotherarticles.org.ua/article/20542/justotherarticles-Performance-Appraisal--Merit-Pay--Pay-For-Performance-and-Employee-Reviews-Advice.html">Performance Appraisal - Merit Pay - Pay For Performance and Employee Reviews Advice</a>

BB link (for phorums):
[url=http://www.justotherarticles.org.ua/article/20542/justotherarticles-Performance-Appraisal--Merit-Pay--Pay-For-Performance-and-Employee-Reviews-Advice.html]Performance Appraisal - Merit Pay - Pay For Performance and Employee Reviews Advice[/url]

What is the best way to write and a text advert. Lots of use advertising networks like google adwords and adquick.co.uk. I explain the best way to approach writing a text ad.

Are you well suited for self-employment? Here’s a 10-question quiz that can give you a quick idea of your chance for success.

You're lucky. I envy you. This little internet thing makes finding business start up info a breeze. Here's my two cents on the psychology of starting your own gig.

Tags

Links

Just Other Articles - Performance Appraisal - Merit Pay - Pay For Performance and Employee Reviews Advice

Related Articles: