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Many small businesses are leaving money and new relationships on the table

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

by not accepting credit cards or other forms of cashless transactions. Stu

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

Examples of combination products may in

dies have shown that merchants can achieve 50% plus increases in sales by 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.

imply offering multiple payment options.

How many times have you been sitt

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

ing in traffic thinking about that new “toy” you want, but realize your sho

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

Combination pro

rt on cash this month. You arrive home, check the mail, and there is a new

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

consumer credit card staring at you. We are an impulse society and want t

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

hings now!

Many industries can benefit from an expansion of payment option

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

s. For example, a large property manager could use a secure internet payme

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

nt solution to accept recurring payments. Oil delivery drivers could swipe

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

a credit card with a wireless terminal before filling a consumers oil tank

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

Following aspects would a

. Limo/Taxi’s could accept credit cards and we wouldn’t have to accept ano

dd to the challenges in developing combination products:

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

ther blank receipt from a taxi driver(happens every time). Flea market, sw

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

ap meet, and tradeshow merchants could use wireless solutions to sell more

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

product/services.

Businesses often complain about the fees they pay to th

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

e credit card companies. How often do those same businesses often spend ho

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

Professional from academic institutions, pharmaceutical industries, health care indust

urs upon hours chasing invoices? I would prefer to get the sale I might no

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

t have had if I didn’t offer alternatives to cash. My guess is the combina

.

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

tion of lost sales and time/effort chasing accounts receivables cost the me

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

Companies that provide selfless information through particip

rchant far more than the fees they are paying to the credit card companies!

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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