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Delicious - Insurance, Fear Of The Unknown
Now why in the world do we need insurance?
Back in the good old days when the earth was still flat and we were all living in the same time zone you would have had little knowledge of insurance except for maybe leaving som
Back in the good old days when the earth was still flat and we were all living in the same time zone you would have had little knowledge of insurance except for maybe leaving som
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
ething as insurance for a loan you made.
There is nothing wrong with the concept of insurance, it most certainly has its value in the bigger picture of things.
What is wrong is the way in which many people are bulldozed
There is nothing wrong with the concept of insurance, it most certainly has its value in the bigger picture of things.
What is wrong is the way in which many people are bulldozed
; 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
into signing for insurance policies that they don’t really need or which will not be able to tend their needs once they need it.
As there are many first-class insurance companies out there, there are also the few that are
As there are many first-class insurance companies out there, there are also the few that are
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
just out to make a quick buck from you creating never ending problems.
Many people spend a large portion of their income on insurance, health, car, household and life to name but a few. There are many others policies tha
Many people spend a large portion of their income on insurance, health, car, household and life to name but a few. There are many others policies tha
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t the insurance companies have invented to tend for other events that might occur.
All insurance is hedged against a bet. Unmistakably based on our inherent fear, which is also the sales mechanism for selling insurance.
All insurance is hedged against a bet. Unmistakably based on our inherent fear, which is also the sales mechanism for selling insurance.
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
There is always a fear of the unknown, there where you have not been and for that matter don’t want to go to either. The insurance agent will take you there and explain what it is like and make the fear almost unbearable.
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
Picture this scenario, you and your wife are sitting in the dining room and directly opposite you is the insurance agent. He is sitting forward and telling you the story of this unfortunate family who failed to take out i
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
nsurance the day he was there and before they could sign the contracts the unthinkable happened, and now they are stranded with nowhere to go.
You don’t want this to happen to you. This is followed by one or two stories o
You don’t want this to happen to you. This is followed by one or two stories o
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
f people, and there are pictures to prove this, who did take out insurance in the nick of time. Your heart goes out to that poor family who now face hardship and turmoil and you are glad for the other families who are now
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
able to make it and move on.
The picture painted in your mind plays with your fear of not knowing what will happen tomorrow and you certainly don’t want something like that happening to you without being prepared.
The ag
The picture painted in your mind plays with your fear of not knowing what will happen tomorrow and you certainly don’t want something like that happening to you without being prepared.
The ag
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ent explains all the benefits you will have if you take out this policy now, and in light of what you have just heard and witnessed with pictures, it not only seems like a good idea, it is an absolute necessity.
The insur
The insur
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
ance agent then looks at you and your wife waiting for an answer, he does not speak and there is an odd silence. You ask about one or two points, he explains each one perfectly and asks if you have any further questions. Y
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
ou answer no, simply because you actually don’t know any better. He hands you the contract and a pen.
This is nothing more than pure sales, the pitch, overcoming objections and closing the sale.
Yes you can cancel the co
This is nothing more than pure sales, the pitch, overcoming objections and closing the sale.
Yes you can cancel the co
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
ntract later but this process will probably end up taking an entire day of your time and endless irritation.
The strange thing though is that you are the one betting that something will happen to you, you believe it. The
The strange thing though is that you are the one betting that something will happen to you, you believe it. The
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
insurance company on the other hand are betting that it will not happen.
This is quite logical if you think of it, how otherwise would the insurance company make a profit? Whether you believe it or not, they are in busine
This is quite logical if you think of it, how otherwise would the insurance company make a profit? Whether you believe it or not, they are in busine
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
ss to make a profit, as is any other business. So there is nothing wrong with it.
Where you need to be careful however is buying your insurance with emotion. Now this is a contradiction in terms because all purchases are
Where you need to be careful however is buying your insurance with emotion. Now this is a contradiction in terms because all purchases are
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
made based on emotion, you might think there is logic involved, but it is a very tiny percentage.
Never sign immediately, take a day or so to review and let your emotions settle, then make the final decision. Also give yo
Never sign immediately, take a day or so to review and let your emotions settle, then make the final decision. Also give yo
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
urself time to go through the written material, the fine print, very fine print and very very fine print.
It is a major pain in the you know where, but it will give you a good indication of what you will not be getting. S
It is a major pain in the you know where, but it will give you a good indication of what you will not be getting. S
.
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
peak to the agent again and clarify all the points you are uncomfortable with and make sure that the policy you are considering is made for you.
Remember fear of the unknown is your biggest enemy. You will not conquer tha
Remember fear of the unknown is your biggest enemy. You will not conquer tha
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
t fear but take time to make you decisions carefully when buying insurance of any kind and don’t get bulldozed into signing a contract that will end up being of no or little value the day you really need it to come through
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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