Main Subject - Business

Small businesses and entrepreneurs always benefit by outsourcing their services to professional service providers or freelancers as this saves them time and money. The money saved due to outsourcing can be effectively and successfully

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

utilized to focus more on strategic and core business functions. This article will help small businesses and entrepreneurs in making the right decision in choosing the correct service provider for them and managing their projects.

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

Examples of combination products may in

Tips for Finding and Choosing the Right Freelancer or Service Provider for your Services

1. Where to find a Service Provider

You can find service providers or freelancers through online outsourcing marketplaces. All you nee

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

d to do is submit your requirements. Service providers whose skills match your criteria will submit bids/proposals. Alternatively, you can search for providers through search engines and directories – this step is more time consumin

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

g.

2. Confidentiality Agreement

If your requirements contain some confidential information, then do not give all the requirements to the service providers. You can give them a short description of your requirements and ask them to

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

Combination pro

sign a Non-Disclosure Agreement (NDA) before you provide them all the information.

3. Provide clear Scope, Schedule, and Deliverables

Clearly define the scope, schedule, and deliverables for your project. It is recommended tha

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

t you give service providers as much information as you can in order to allow them to submit realistic proposals with reasonable rates.

4. Evaluate Proposals

Evaluate service providers’ proposals against your evaluation criteri

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

a. An evaluation criterion is a measure that you will use to evaluate proposals, e.g., experience in similar projects, approach and methodology, price, etc. Always find the key differentiators between all competitive proposals. Feel f

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

ree to ask them any questions to learn more about them. One of the important questions can be about what kind of support will be available during and after the project is finished.

5. Review Portfolios/Sample Work and Feedback from

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

Previous Clients

Short-list the service providers whose proposals satisfy your evaluation criteria (cost, approach, etc). Check their references and get feedback from their clients. View their samples and completed projects or portf

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

lios to understand their quality standards and work capability. Do not choose a service provider based solely on price: you need to take overall quality apart from price into consideration.

6. Choose a Service Provider

Finally, com

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

Following aspects would a

pare the competitive bids to make the right decision.

What next after you have chosen a Service Provider

1. Service-Level Agreement

It’s good practice to get everything in writing from the service provider, who will pr

dd to the challenges in developing combination products:

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

ovide the agreement and project plan. The agreement must have the project plan attached which outlines a project's scope, deliverables, timeline, and payment terms. This will help in avoiding disputes during the project. You should al

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

so ask the service provider to give you a list of deliverables/milestones with tentative dates of completion. Ownership of work must be stated and included in the agreement.

2. Releasing Payment

Service providers always demand ad

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

vance payment. This should be 20–30 percent. The rest of the payment should be dependent on agreed deliverables. Only release payment when a deliverable/milestone is met.

Tips on Managing your Project

1.When a project sta

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

ts, introduce yourself or your team members to the development team. Specify meeting, reporting, and feedback timings.

2.Project scope, deliverables, and price can change during the course of a project: it is highly recommended that

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

Professional from academic institutions, pharmaceutical industries, health care indust

all these changes be agreed upon, documented, and signed by both the service provider and you.

3.If your service provider is located offshore, the greatest challenges of successfully managing offshore projects are overcoming differen

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

ces of language, culture, and geography. All the processes must be well documented to avoid any confusion. These processes may include: resolution of problems, reports, feedback, discussion timings, etc.

4.Depending on your flexibili

.

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

ty, ask the service provider to submit daily or weekly progress reports to see the actual performance in comparison to the plan initially submitted.

5.Make sure the service provider understands how you intend to use the deliverables

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

Companies that provide selfless information through particip

that they are agreeing to provide. It must be clear about who owns the final work.

6.Save all information from the chats, emails, messages and discussions between you and your service provider. It may be helpful in resolving disputes

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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Always remember that your success depends on you and your positive mindset! Knowing what your competitor is doing is helpful, but will not ensure your success. When starting a new business, or thinking of starting a new business, it is very important to check out who's already out there, what they're offering, and what they're charging and how they are marketing their services - products.

Managing your online business effectively will save you a lot of time - and money. You don't need a business degree to be a successful online entrepreneur; you just need to know a few basic management principles.

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Main Subject - Tips for Successfully Outsourcing Services to Freelancers or Outsourcing Service Providers

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