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Main Subject - Measuring Value for a Networking Group
How do you measure a group’s worth to your organization?
It is sometimes necessary to measure
It is sometimes necessary to measure
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 value of a group. You may be asking yourself why you would want to measure the value of a
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
group whose purpose is business. You would want to measure the price of membership vs. the bus
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ness you will get out of the group through either referrals or direct business with members. T
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ere are several ways that the measurement can be taken. First, you will need to assess the cur
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ent membership. You should develop a scale of 1 to 10 and give each member a rating based on a
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
set of predefined criteria. What criteria should you use? That will depend entirely on your go
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
ls for belonging to the group. For example, if you are selling services for repairing computer
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
, you may rate members by the number of computers they have at the workplace, and you may also
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
add a factor for who they are currently using on the servicing side. It is best to define at l
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ast 3 criteria for a sampling of the members. You will not want to measure every member, but a
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
small cross-section will do. Second, you should measure the amount of business each member (or
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
a sample of members) has received by joining the group. You may also want to know how much bus
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ness they do with other group members as well.
Once you have the measurements, these same cri
Once you have the measurements, these same cri
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
eria should be applied to each of the groups you are interested in. Next you will want to do a
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
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
comparison of the groups and then make your selection based on facts rather than emotion.
Now
Now
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
that you have thought out and used a measurement tool for deciding the value of a group, you w
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ll want to test as many groups as possible. You may decide to join only those groups that meas
.
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
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
re in the top 20% of your scale. One thing you may want to consider is the time and place of t
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
e meeting. Your calendar must be open and flexible enough to deal with attendance requirements
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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