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Main Subject - Statement Processing: More than Printing, Folding and Mailing
Statement processing and delivery has grown up and requires much more than high end Printers and Inserters. Technology Tools have emerged which give Quicker Speed of Delivery, Greater Co
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
llection Rates, and Increased Sales.
Quicker Speed of Delivery
Electronic Invoicing has emerged as a mainstream method for customers to receive their bills. Electronic Invoicing provid
Quicker Speed of Delivery
Electronic Invoicing has emerged as a mainstream method for customers to receive their bills. Electronic Invoicing provid
; 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
es tremendous advantages to both Billers and Customers. Customers appreciate the convenience and Billers can deliver their invoices much quicker and at a reduced cost. Currently 32% of
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ustomers are paying at least one bill over the internet. It is projected that 52% of customers, by the year 2010, will be paying at least one bill over the internet (EBPP Forecast: 2005-
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
2010 Forrester Research). This trend (if taken advantage of) will result in cheaper bill delivery, a quicker collection period, fewer customer service calls, and happier customers who st
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
y longer.
Outsourcing of bill delivery has become the cheapest and quickest method to print and mail bills. Most Billers who have chosen to outsource the printing and mailing of their b
Outsourcing of bill delivery has become the cheapest and quickest method to print and mail bills. Most Billers who have chosen to outsource the printing and mailing of their b
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
ills have been pleasantly surprised. They have discovered that they have reduced a headache, can do it cheaper, and they can get the bills to their customers quicker. Many outsourcers 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
ve strategic printing locations around the US set up in locations to maximize 2nd and 1st day USPS deliveries. These outsourced printers will load balance based upon the most advantageou
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s shipping routes and potentially bring the national average shipping day (ASD) from 2.8 days to 2.0 days. In addition, many outsourcers are willing to provide service level agreements w
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
ich provide for same day printing and mailing of invoices. These two advantages can bring down bill delivery by up to 3-4 days.
Greater Collection Rates
Reducing the number of return b
Greater Collection Rates
Reducing the number of return b
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ills will increase collection rates. Mailing technology has improved over the past 3 years to give a Biller more power in getting the bill to the customer. Data Hygiene tools such as St
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
andardization, CASS, NCOA, MAXCOA, DSF, LACS, Merge/Purge will increase delivery rate hits by up to 15%. USPS Confirm is a postal product that allows first class mail to be tracked throug
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
the mail system. The cost is minimal and the advantages are great. This product allows the Biller to know that all mail pieces were printed and delivered to the post office and it allo
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
ws the Biller to track any invoices that were undeliverable. It is a great tool for tracking down missing invoices and early identification of address issues in your system.
Electronic
Electronic
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
nvoicing provides greater collection rates because these invoices always make it to the customers - even if they change their physical address. Customers access these invoices by their e
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
mail address. In addition, money is collected at least 4 days quicker because the mail delivery times are eliminated.
Increased Sales
The billing process is a marketing medium that has
Increased Sales
The billing process is a marketing medium that has
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
been underutilized in the past but is starting to be recognized as a powerful marketing tool. Dynamic messages can be inserted onto paper bills as well as electronic bills based upon pur
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
chasing habits of your customers. If asked, savvy bill outsourcers will track your customers' sales in their databases from the monthly invoices they receive. With this data they can pr
.
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
vide powerful marketing strategies for Billers which will increase cross selling, up selling, and customer retention.
Print and Mail services for Bill Delivery has become much more than
Print and Mail services for Bill Delivery has become much more than
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
just heavy metal printing and insertion equipment. A technology art has developed around the heavy metal to provide more sales, quicker collection, and more control of the entire process
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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