Answers - Insurance

The two main choices open to you when it comes to buying a private medical health insurance plan are 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

raditional indemnity health insurance and managed care. But what do you do when neither of these alter

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

Examples of combination products may in

natives meets your needs?

This is one problem which has now been recognized by the insurance companie

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

s and today there is an alternative in the form of a Preferred Provider Organization (PPO) plan which

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

goes some way towards merging the two and providing the benefits of both.

The choice up until now has

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

Combination pro

been between an indemnity plan which essentially provides cover for accidents and unexpected illness,

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

and which also gives the policyholder considerable freedom in choosing where and when treatment is ta

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

ken, and managed care which focuses on providing everyday medical care, but restricts the policyholder

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

to seeking care within an approved network of healthcare facilities.

In essence the new PPO is a man

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

aged care plan and provides relatively low cost care in exchange for policyholders seeking care from w

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

ithin the insurance company's approved network of providers. However, a PPO also allows policyholders

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

Following aspects would a

to seek treatment outside of the approved network if they wish to do so, within certain limits.

Unlik

dd to the challenges in developing combination products:

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

e a traditional managed care plan, the PPO does not assign a patient to a primary care physician throu

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

gh whom all treatment must be taken and from whom a referral is required for specialist care. This mea

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

ns that the policyholder is free to consult any doctor within the network and can also seek treatment

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

from a specialist outside the network if he or she chooses to do so.

There is a course a price to be

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

Professional from academic institutions, pharmaceutical industries, health care indust

paid for the ability to seek treatment outside of the insurance company's network and policyholders wi

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

ll normally need to pay a proportion of their costs when such treatment is taken.

This meets the need

.

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

s of many people who want the freedom of choice offered by indemnity insurance and also meets the need

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

Companies that provide selfless information through particip

s of those people who are looking for a low cost plan to cover their routine day-to-day medical needs.

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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Answers - When Neither Indemnity Health Insurance Nor Managed Care Meets Your Needs

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