Answers - Insurance

We are all aware of the rampant crime of Identity Theft. And if you are one of the millions who have had this happen to you and have had to unravel the tang

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

les of trumped up credit card charges and worse, then you know how destructive this crime can be. But health insurers like Blue Cross and Blue Shield are re

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

Examples of combination products may in

porting a rise in a new spin on the crime. Medical ID Theft; and it can have devastating consequences not only on your finances but also on your health.

Ma

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

ny people with health insurance fail to realize that their insurance card is as valuable, maybe even more valuable then their credit card. When it comes to

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

aying for medical expenses, depending on the limits of your policy, a valid Blue Cross Blue Shield Card can be like holding a platinum Amex Card with A Mill

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

Combination pro

ion-Dollar credit limit. And if you are not aware of this be assured that thieves and unscrupulous medical providers certainly are. According to Byron Holl

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

is, The National Anti Fraud Director with the Blue Cross and Blue Shield Association, "It's an old problem that people are becoming more aware of…" Accordin

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

to the World Privacy Forum since 2002 it has received more than 20,000 complaints of Medical ID theft, in ever increasing annual numbers.

The most obvious

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

way that medical ID theft occurs is if someone simply steals your insurance card and begins using it to procure medical services. This can mount up in a da

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

ngerous way, because again, most consumers are just not aware how important a lost insurance card can be, and will not report it immediately like they will

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

credit card. As the thief continues to rack up bills for illegitimate expenses the problem becomes twofold, not only in fraudulent charges being billed aga

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

Following aspects would a

inst your medical insurance policy, but the thief may confuse your medical history with their own, by ordering tests and medications that you do not require

dd to the challenges in developing combination products:

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

. This can have a serious impact on your future healthcare.

But perhaps more insidious is when the theft occurs when you use your health insurance benefits

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

legitimately at the office of a medical provider and that information is lifted by an unscrupulous employee and sold on the open market. Many hospitals and

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

HMO's are implementing plans to fight Medical ID Theft, in the meantime if you want to be sure your information has not been hijacked, ask you healthcare pr

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

ovider for the most recent copy of your medical records, and ensure that all of the procedures, treatments and history of your conditions are indeed yours.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Check all of your bills meticulously and look for any fraudulent charges. And protect your Health Insurance numbers and ID Cards just as you would your cred

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

t cards and Social Security Number.

If you suspect you have been a victim of Medical ID Fraud first contact your Insurance Company and ask to speak directl

.

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

y to their Anti-Fraud unit, then contact the police, and lastly you may want to contact your medical provider, but experts agree that since they may be invo

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

Companies that provide selfless information through particip

lved in the crime, it is best to contact them LAST, after the police and your health insurance company so as not to tip the hand of the possible perpetrator

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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