Cases - Business

Getting sick is no fun. What's even less fun is when you go to the doctor, he hands you that bill and it takes your insurance company forever to

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 the claim. Medical billing may seem like a total nightmare sometimes and the truth is, it is. But few people understand the reasons. Hopefu

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

Examples of combination products may in

ly, reading this will give you a basic idea of what all the problems are.

There are many players involved in the medical billing world and you ha

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

e to understand their role in this society and where they are coming from.

For starters, we have the doctors. You have to understand that educat

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

ion costs today are insane. Just going to college to become a social worker can cost you $35,000 a year. Do you have any idea what it costs to b

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

Combination pro

come a doctor? It's insanity. So these people are in such debt to begin with that they have no choice to charge high fees for their services. 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

doctor's visit that once upon a time cost $15, now costs $75 or more. So medical billing starts off behind the 8 ball because doctors fees are so

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

high. This includes all doctors and not just general practitioners.

Then you have the drug companies. The cost of research today is off the ch

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

rts. Many people argue that the pill the drug company makes only costs 10 cents to make. What they fail to realize is that the cost of coming up

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

with that miracle cure cost millions of dollars. Lab techs and chemists don't work cheaply. So medicine today is sold for prices that years ago

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

ould have been unthinkable. So, add the cost of medication to the cost of doctor fees and your medical billing costs have just gone up a little m

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

Following aspects would a

ore.

Then you have the technology. Today, we have the ability to find things through MRI, CAT scans and a number of other things that we didn't

dd to the challenges in developing combination products:

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

ave years ago. These technological wonders come with a heavy price tag. We don't simply take an x-ray anymore. Things have gotten a lot more so

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

histicated. So this also adds to the cost of your medical bill.

Then you have the medical billing industry itself. These people don't work for

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

free. With the rise in skills, the people in these positions, especially those who are involved in the computer end of it, demand high salaries.

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

Add to that the cost of software, forms and various other items and you come away with a very high price tag just for sending out the bill, which

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

Professional from academic institutions, pharmaceutical industries, health care indust

s already high to begin with.

And finally, fighting on the other end of the scale, you have the insurance carriers, whether it be Medicare, Medic

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

aid or a private insurance company. These carriers have one thing in mind and that is to save money. So they'll pay out as little as possible on

.

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

these claims. That's why there is so much red tape when it comes to medical billing.

Add all of this together and you have an industry that is i

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

Companies that provide selfless information through particip

need of reform and serious help. But in order for that to happen, somebody has to give a little. And that is not likely to happen any time soon

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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