Main Subject - Business

In a traditional organization, the role of purchasing is to simply purchase and the means was to negotiate

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

and to have a confrontational attitude with the vendors. This led to the concept of ‘buying power’ of org

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

Examples of combination products may in

anizations into the management literature. For instance, large organizations squeezed every cent from thei

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

r suppliers by using their buying clout.

Purchasing solutions are based on vendor, geographic and technol

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

gy specific. Whatever be the solutions, the goals are reduced cost, higher quality and reliability. Purcha

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

Combination pro

sing is a complex process with so many variables that the organization may not have control on many of the

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

m. For instance, currency fluctuation is an important variable that affects the buying decision. The degre

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

e of centralization in an organization plays a major role in purchasing solutions.

A purchasing organizat

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

on may have single or multi vendor for a product item. Vendor specific solution is based on whether to hav

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

e multi vendor arrangement to reduce the risk of dependence on one vendor or to forge a long term relation

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

ship with a single vendor. Geographic specificity is determined to reduce the risk of dealing with differe

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

Following aspects would a

nt cultures, systems or to reduce the costs. For instance, Wal-Mart sources a significant portion of its r

dd to the challenges in developing combination products:

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

quirements from Low Cost Regions (LCR).

Technology specificity starts with the need to automate systems a

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

nd to have greater over the business process. The automation solution increases the efficiency and tracks

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

the vendor performance. ERP solutions integrate purchasing solutions seamlessly with other business proces

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

ses such as inventory management, logistics and shipping. Web based solutions provide auctioning to get th

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

Professional from academic institutions, pharmaceutical industries, health care indust

materials at the lowest bid from many vendors.

Finally, the increasing globalization trends and competit

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

ion force the businesses to outsource purchasing and to concentrate on the core activities. Each solution

.

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

has its own merits and de-merits depending upon the context such as product category, policy intervention.

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

Companies that provide selfless information through particip

In essence, purchasing has evolved from being a back end service provider to a strategic partnership role

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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We have finally come to the end of our medical billing series on the GU0 record. In this installment, we cover the last four fields, from 69 to 72.

Prepaid expenses belong on the balance sheet and can encompass costs such as rent, insurance, advertising, and any other cost that normally would be expensed on your income statement but is paid in advance of the period in which it is owed.

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