Main Subject - Business

There are several distinct advantages to outsourcing your bookkeeping functions. First and foremost is saving money. Having said that don't step over dollars to pick up dimes. You get what you pay for and if you don't

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

pay for quality than you won't have quality service. However, you can save money by outsourcing because you won't be paying for employer payroll tax expense (FICA, FUTA and SUTA) workman's compensation and general liab

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

Examples of combination products may in

lity insurances, vacation time, sick time, health insurance and other benefits a good full time bookkeeper will expect from his/her employer. Just remember, however, that these costs will be built into the consultant's

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

ourly rate and their fee will reflect these costs. Any bookkeeping consultant who has not taken these costs into consideration is not a bookkeeper you want - if they don't know enough to include these costs into their f

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

es, then they don't know enough to be a help to your business. You should expect to pay at least three times what you would pay an experienced full charge bookkeeper.

And just how do you save money by paying three time

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

Combination pro

the amount you would pay an employee? Well, let's see. There will be no recruiting, interviewing and training costs for start. And if you should find yourself unhappy with the services there will be no additional rec

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

uiting, interviewing and training to replace your bookkeeper. Also, you will not have to be concerned about law suits such as sexual harassment, unlawful firing, age discrimination, sexist, etc. Or an increase in 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

nemployment rates because you laid off an employee that you really wanted to fire but had no lawful cause to do so. So right away we have less time and money spent and potentially less hassle if things don't go well.

A

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

d of course you will not be paying the 7.65% employer's share of FICA and Medicaid, or SUTA or FUTA expense, or workman's compensation and general liability insurance premiums. Also any worthy bookkeeper will expect at

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

east two weeks vacation, coverage for sick time, health and dental insurance, a 401k plan where the employer matches employee contributions and even perhaps more benefits.

Most free-lance bookkeepers will have their own

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

offices saving you space within your office. So you will not be buying that extra desk, calculator, computer and computer software. Your bookkeeper will be providing all of that as part of his/her fee. No software upd

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

Following aspects would a

ates, computer maintenance, training costs, etc. Of course should you prefer to have your computerized bookkeeping records available to you at your office, a small investment in software installed on your computer make

dd to the challenges in developing combination products:

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

this possible. Also no office supplies to be paid for. You will be amazed at just how much pens, pencils, and paper can be used by a bookkeeper. Your consultant bookkeeper will either ask you to drop off the work at t

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

eir office, will pick it up at your office or some may even offer remote bookkeeping service. And by having your bookkeeping done off site, your bookkeeper will be able to work more efficiently and accurately because he

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

/his office will most likely offer less distractions than your busy office. All of this is saving you money.

And the best reason for outsourcing is that you control the amount of money spent on bookkeeping. What I mea

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

by this is that the person you hire to do your bookkeeping will be doing just that - not answering the phone, dealing with drop-bys, chatting to other employees, etc. Also you can start with just a few hours a month an

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

Professional from academic institutions, pharmaceutical industries, health care indust

add on when you need to and then adjust downward again should it be necessary. Can you imagine finding an employee to start with only four hours a month, then asking them to put in 20 hours a week for awhile and then b

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

ck down to four hours a month again. I don't think you would keep them for very long, but a free lance bookkeeper is able to work around these variables and even more importantly expects to work with flexible schedules.

.

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

So have I convinced you yet? If so, then just remember "you will get what you pay for". Go for top quality because your financial records are the core of your business and without great bookkeeping you cannot expect t

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

Companies that provide selfless information through particip

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

Addresses the role of the supervisor as a coach, how to tell the difference between a solid, motivated team of employees and that which is not, and finally how to turn one into the other.

You may have your own ideas of what creativity means. You may also be struggling with your company's advertising and/ or income. With regard to marketing, the definition of creativity is very different than it is in relation to the arts. Marketing uses many of the artistic genres including composition, design, photography, film, music, dance, and theater, but the intention and outcome are not alike by any means.

Good Guy/Bad Guy is one of the best known negotiating gambits. Charles Dickens first wrote about it in his book Great Expectations. In the opening scene of the story, the young hero Pip is in the graveyard when out of the sinister mist comes a large, very frightening man. This man is a convict, and he has chains around his legs. He asks Pip to go into the village and bring back food and a file, so he can remove the chains. The convict has a dilemma, however. He wants to scare the child into doing as he's asked, yet he mustn't put so much pressure on Pip that he'll be frozen in place or bolt into town to tell the policeman.

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Main Subject - Outsourcing Your Bookkeeping

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