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It is important that you conduct your due diligence before settling on one particular merchant account provider. The reasons are obvious. You certainly don't want to be stuck paying high monthly

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

fees. Plus, I'm sure you wouldn't want to overpay on a processing solution. Don't let price be the only deciding factor though, we'll look at this in a minute.

Never hurry through when trying

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

Examples of combination products may in

to find a merchant account. If you move too fast you will surely miss on a really great deal. I can't stress this enough. Don't wait a week before opening your doors to customers to find a merc

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

ant account provider. Not only would you miss out on a good deal, but in some cases it can take up to a week to approve your application once its been submitted.

Three main factors should be con

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

sidered when choosing a merchant account provider (in no particular order):

Integrity of the provider
Price
Customer Service

We'll look at each determining fac

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

Combination pro

or, in detail, so you can get the scoop on what to look for.

Integrity of the Merchant Account ProviderDon't automatically assume a provider is legitimate just by what they have

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

posted on their website or conveyed to you over the telephone. The merchant account industry has a number of ruthless and greedy sales representatives who are more interested in themselves then h

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

lping you.

Here are some red flags to watch out for and suggestions to test a providers integrity:

Repeatedly getting an answering machine every time you call.
Representative se

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

ems to give you the run around every time you ask them a question about rates or their agreement.

If they use one of those free web hosting services for their website and/or a free domain

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

name (i.e. www.xyz.com/user/4876/5thave/index.html) look the other way. If they can't afford a real domain name and website then they shouldn't be in business.

Don't post all their rates

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

and fess on their website.

Scrutinize their merchant agreement, go over it with a fine tooth comb and question anything that appears "loose" or suspicious. You certainly don't want to

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

Following aspects would a

get caught in a loophole.

Make sure their website clearly shows what bank(s) they represent. It is unlawful for a merchant account provider not to show what banks they represent on their

dd to the challenges in developing combination products:

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

website. Visa and MasterCard cracks down hard on those who don't.

Search Better Business Bureau, consumer reports, or online newsgroups for any unsatisfactory remarks made about the comp

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

any. Top Notch Customer Service is Paramount

Don't get carried away by great rates and forget about customer service. Customer service is king for long-term success an

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

smooth transaction processing. You don't want to be plagued with busy signals and long hold times. Your time is precious and downtime will cost you money.

Before signing up with a company, try

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

out their customer service number. Give it a ring and ask them a few questions. Take note of their attitude, do they seem interested in wanting to help you? Are their answers fully-detailed, y

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

Professional from academic institutions, pharmaceutical industries, health care indust

t easy to understand?

Some aspects that should be met for superior customer service:

Reliable availability (and yes, even on holidays too, if possible. Definitely if your business opera

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

tes 365 days a year.)

Hold time 5 minutes or less

Friendly, courteous representatives who are knowledgeable

Toll-free number

One last note before we move on, d

.

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

n't get conned by providers who say the reason they charge high rates is because of the superior customer support they give, that other companies don't. Sure, a slight price increase (most likely

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

Companies that provide selfless information through particip

, never), but don't go overboard. Customer service is important, but shouldn't cost you hundreds more than with another provider. This type of scam is just so they can fill-up their pockets more

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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