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Commercial debt collection is required when a company fails to pay for goods or services supplied on cre

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

dit. Although the process of commercial debt collection is a stressful experience for you and your compa

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

Examples of combination products may in

ny, you must still treat the debtor fairly and courteously.

So Does this only apply to small companies?

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

Not at all. The key is to find a commercial debt collection agency with whom you can develop a long term

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

relationship, after all this will almost certainly not be the last time you need their services.

You w

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

Combination pro

ll need to find an agency who are professional and dependable. Responsive, courteous. Speak with the per

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

son who is intended to become your account manager - the person who will be in direct contact with your

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

ebtors. Do you trade internationally? This is a crucial factor when choosing a commercial debt collectio

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

n agency.

By employing a commercial collection agency you must be careful and guard against not opening

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

your self up to a lawsuit. Professional agencies will protect you from this unwanted outcome. The agency

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

will almost certainly wish to speak directly with your debtor or debtors , after all the time for writt

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

Following aspects would a

en warnings will probably have been passed some time ago. The desire for action on your part will be str

dd to the challenges in developing combination products:

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

ng. A good communicative agency will be able to verbally make your debtor understand the seriousness of

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

the situation.

Many people hesitate before bringing in the services of a debt collection agency. They a

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

k questions like " How Long should I wait before bringing in a debt collection agency?" "How many chanc

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

es should I give a customer to pay before turning over the account to an collection service?" The answe

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

Professional from academic institutions, pharmaceutical industries, health care indust

s vary but in general the following is a good rule of thumb. Time to wait - around 90 days unless you h

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

ave had a bad experience before with this debtor in which case maybe 60 days would apply. How many chan

.

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

es to pay - 2 or 3 is mostly enough. If you haven't had payment by then, chances are you are in for prob

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

Companies that provide selfless information through particip

lems.

If commercial debt collection is not part of your B2B business plan, your company is losing money

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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