Advice Pool - Insurance

If you've never filed a loss claim before, you might feel nervous and conf

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

used about the whole process. What exactly should you do? And what exactly

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

Examples of combination products may in

happens?

Well, let's say a storm comes through your area and damages you

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

r home. The first thing you should do is try to mitigate damage. If you ha

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

ve water leaking into your house, cover up the leak (but don't have it rep

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

Combination pro

aired yet). Basically you want to do what you can to prevent further damag

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

e.

Next you should call your insurance agent. They might submit your clai

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

for you, or they may refer you to another center that deals with loss ins

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

pection. After your claim is submitted, a claims adjuster will be assigned

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

to your claim. They will then contact you to set up an appointment to com

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

e out and inspect your loss.

Once they inspect your loss, they may settle

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

Following aspects would a

the claim then and there. However, if the damage is very extensive, they

dd to the challenges in developing combination products:

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

may need to do a little more research into prices and/or the best course o

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

f action. Once the proper course of action has been decided, the claims ad

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

uster will go over everything with you so that you understand what can be

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

done.

There are some important things you can do to make the claim go smo

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

Professional from academic institutions, pharmaceutical industries, health care indust

othly.

1. When the claims adjuster first contacts you, make sure you get

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

THEIR contact information so you can reach them easily.

2. Write down the

.

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

date and time of the storm, and other such details.

3. Take good photos

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

Companies that provide selfless information through particip

of damage, and keep receipts for anything you have done to mitigate damage

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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