Just Other Articles - Internet and Businesses Online

Having had the chance to develop an API for e-checks, test it, and see its performance, I decided to write an article sharing my experience with others.

All of us at

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

the company were really excited at the idea of e-checks: lower transaction fees than credit cards, no chargebacks, and virtually everyone in North America should have

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

Examples of combination products may in

bank account, which will for sure increase our potential buyers.

The first few days after integrating the e-check as a payment option, the whole thing worked like a

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

charm, lots of e-checks transactions, and you know, it's always a 1% saving. We even started pushing e-checks on our website by adding things like "Best Option", and m

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

ving it to the top of the payment methods. The thing is it was really the best option for us (or so we thought), but not for the client, as the money will be debited f

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

Combination pro

om his/her account faster (as opposed to waiting for the bill in case of a credit card payment).

5 days later (which is the standard amount of days for e-checks to cl

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

ear) after the launch we started to see the problems. It was recurring, it was huge, and it was returned checks: a lot and a lot of returned checks. The causes of retu

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

ned checks ranged mainly from fraud, to insufficient funds, or to just the person calling the bank and stopping the payment. Fraud, in case you don't know, is a huge i

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

sue for e-checks, you only have to have the account # and the routing # in order to debit a bank account (that's how most internet scams work), and both are written cl

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

early on any physical check. Thus fraud was a really major issue. Insufficient funds was another big issue, as most of the people using e-checks were to a certain exte

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

t, and I hate to say it, poor, so they often had their account balance hovering around the $0 level. Finally, some people, when having a second chance if they really w

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

Following aspects would a

nt to purchase or not, choose the latter, thus, they call the bank and ask them to stop the payment. What was more annoying than having the returned checks (and having

dd to the challenges in developing combination products:

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

to pay a fee for those returned checks) was the fact that the transactions went through as OK from our side, while, in fact, they were a failure, so we had to go thro

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

gh a manual procedure to cancel those transactions (on the other hand, successful credit card transactions are almost certain to remain successful, unless in case of a

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

chargeback). Add to all that, in most cases, the product was already delivered to the client, so we also had to follow up with him/her, where you usually get the answe

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

ring machine, and you'd be lucky if you hear back. 1 month later, we decided to remove e-checks as a method of payment as we realized that it was a huge time waster, a

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

Professional from academic institutions, pharmaceutical industries, health care indust

d honestly, we didn't see a change in our volume of transactions.

The conclusion is that e-checks are not really mature as a payment option and thus, in my opinion, i

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

is not recommended to have them. Unless you have a lot of resources in your billing department to handle those returned checks and your profit margin is really high (

.

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

and also you think it will increase the sales, which is a hype), then go ahead, otherwise, just stick to credit cards (in my experience, chargebacks were about 1/10 th

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

Companies that provide selfless information through particip

amount of returned checks). After all, why would anyone want to pay with his/her bank account on the web instead of a credit card, where he/she is much more protected

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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Oh my God, making money online is too darn difficult. All that technically mambo jambo is all rocket science to me. Can't it just be as easy as A-B-C?

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