Advice Pool - Business

In IT consulting, you can target various sized businesses. Beyond the "sweet spot small businesses" with 10 t

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

o 50 computers and 10 to 100 employees are "large-small businesses" that have 50 to 100 computers and 50 to 20

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

Examples of combination products may in

0 employees.

What a Larger Small Business Involves

The big distinction for these larger small businesses is

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

hey usually have at least two dedicated servers and you start to see an in-house IT manager who handles most o

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

f the generalist work. Because they’re handling the generalist work, they don’t need IT consulting work in the

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

Combination pro

same capacity as the smaller businesses would.

Networking Skills and Specialization Required

In IT consultin

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

g, if you want to be successful with really large small businesses, you need to drill very deep in two or thre

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

core networking skill sets and be a strong specialist. However, if you want to target midsize businesses for

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

your IT consulting practice, it’s an entirely different business model that’s very hard to crack as a soloist

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

r a start-up.

Targeting Midsize Businesses

The midsize business is where you start to see more than 100 comp

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

uters, more than 100 employees, and more than three dedicated servers. Additionally, there’s not just an in-ho

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

Following aspects would a

use IT manager but an in-house IT department. As far as IT consulting goes for these businesses, the only thi

dd to the challenges in developing combination products:

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

gs they’re going to outsource are deep specialties.

Where Do You Want to Take Your IT Consulting Business?

I

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

f you want to move into medium-size small businesses, focus on a couple of deep networking skills. If you want

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

to go beyond that, start focusing on enterprise-oriented platforms like Computer Associates, IBM, Linux, Oracl

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, and Sun Solaris. To successfully target this environment, you will really need to specialize in your IT co

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

Professional from academic institutions, pharmaceutical industries, health care indust

sulting skills.

The Bottom Line about IT Consulting

The big picture is that most small businesses are usuall

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

y 12 to 18 months behind the curveball with most technology platforms. In IT consulting it’s important to be a

.

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

are of what the targeted businesses are looking for.

Copyright MMI-MMVI, Small Biz Tech Talk. All Worldwide R

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

Companies that provide selfless information through particip

ights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance

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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