Answers - Insurance

There are actually several reasons why people buy LTCi and what matters most to them in the decision making process actually depends on their individual

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

situation. Many times several factors influence their thinking, but here are some of the most common reasons that people invest in LTCi:

· To protect th

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

Examples of combination products may in

eir family - Many people realize that if they have a family that loves them, they will be sure to be cared for somehow in the case of a prolonged illness

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

that requires custodial care. However, they are concerned about the kind of burden will that place on their loved ones, both emotionally and financially

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

. Especially those who have had prior experiences with being a caregiver realize how difficult it is, and they choose to do all that they can to prevent

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

Combination pro

hat if they have the means to do so.

· To protect their finances - Well-informed and financially savvy people understand the dangers that a long term ca

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

re illness can present to their portfolio. In fact, paying for long term care costs is the single largest contributor to financial ruin in the senior pop

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

ulation. Realizing that LTCi allows them to leverage their insurance investment (essentially buying benefits worth many times more than the investment ma

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

de) and protect their assets from disaster, they view LTCi as a necessity, not an option.

· To maintain independence - The very last thing that many peo

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

ple would choose to give up is their own personal independence and freedom of choice. Many understand however, that if they don't plan ahead, that is exa

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

tly what they will most likely lose if a need for long term care arises. Having LTCi provides the financial means necessary to maintain control over your

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

Following aspects would a

care and lifestyle. This is often a major factor when single persons choose to invest in LTCi.

· To have more control over the quality of their care -

dd to the challenges in developing combination products:

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

In the United States no one will be turned away and refused long term care if it is truly needed, regardless of their financial situation. The program th

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

at usually makes arrangements for their care is Medicaid, a joint collaboration between federal and state governments to care for those who do not have a

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

ssets enough to care for themselves. Although it is a wonderful program in many ways, the care that is provided is of much less quality than that receive

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

by those with private funding and is most often only provided in a facility. Many people who have witnessed firsthand the shortcomings and frustrations

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

Professional from academic institutions, pharmaceutical industries, health care indust

of Medicaid-provided care simply choose to do all that they can to avoid such an outcome.

· To protect their children's inheritance - Since long term ca

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

re costs are so high and rising much faster than the standard rate of inflation, many people appreciate that an extended long term care episode would ess

.

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

entially wipe out all the savings that they have worked so hard to obtain through the years, and leave virtually nothing for their offspring. If leaving

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

Companies that provide selfless information through particip

a heritage to their family is important to them, they see LTCi as a way to make sure that the fruits of their labors are passed on to the next generation

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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