Actual - Insurance

All too many people assume that once they have a medical health insurance plan they are covered for all eventualities but this is not 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

he case and most healthcare plans will exclude a range of treatments. Many people also think that once they have paid their premium tha

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

Examples of combination products may in

t their medical bills are covered. Once again this is not the case and you will almost always be expected to meet a proportion of your

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

medical costs.

The first important point to understand is that there are different forms of health insurance and that each provides co

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

ver for different forms of treatment. A traditional indemnity plan for example will not normally cover preventative treatment, such as

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

Combination pro

annual check-ups and immunization, although this is usually covered under an HMO plan.

This situation is beginning to change and an in

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

creasing number of insurance companies are realizing that they can save money if they concentrate their attention on encouraging policy

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

holders to stay healthy in the first place. As a result more and more plans are now covering preventative medicine and some even go so

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

far as to offer discounts for the use of such things as health clubs and programs which help people to stop smoking.

Today most plans

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

cover annual check-ups, annual eye checks, routine medical care, immunization, pre-natal care, well baby visits, urgent and emergency c

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

are and hospital care, including x-rays, blood tests and other laboratory work.

The precise mix of treatment covered however will vary

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

Following aspects would a

between plans and so it is important that you check your plan document carefully to see just what is insured. Equally, you must read t

dd to the challenges in developing combination products:

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

hrough the plan carefully to see what treatment is specifically excluded. Most health insurance plans will clearly specify any excluded

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

treatments which will typically include such things as dental and eye care (except for routine annual eye checks), as well as a someti

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

mes lengthy list of treatments for anything from acupuncture to weight loss.

Another thing that you need to look at carefully is the c

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

over provided for prescription medicines. A growing number of insurance companies are excluding payment for prescription medicines from

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

Professional from academic institutions, pharmaceutical industries, health care indust

their plans as the cost of medicines continues to rise rapidly. Where cover is excluded it is often possible to arrange cover through

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

a separate plan, as indeed is the case with dental and eye treatment.

Health insurance plans are complex legal documents in which 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

detail really is to be found in the 'small print'. Simply purchasing a plan and assuming that you are covered for all medical events is

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

Companies that provide selfless information through particip

likely to result in your being told, "Sorry, your health insurance plan does not cover you for that" when it come time to make a claim

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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