Social Space - Self Improvement

Estimating Value

To find out the cost of each minute of your time, multiply your annual salary by 1.5- to include overheads- and divide the total by the number of working hours in a year (w

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

orking hours per week time’s working weeks per year). Divide this total by 60.

1.5 * Annual salary/Working hours per week = Cost per hr

Cost per hour/60 = Cost per minute

Note:

Think thr

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

Examples of combination products may in

ugh your day while making your way to work

Always delegate tasks which are not time-effective for you to do

C) Keeping A Time Log

Maintaining a daily log of how much time you spend on par

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

ticular activities is fundamental to managing your time more effectively. You may be surprised at how much time you spend chatting, and how little time you spend working and planning. Your t

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

me log provides you with a starting point form which you can assess areas to improve. How long you should keep a time log is dependant on the nature of your work. If you work on a monthly cy

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

Combination pro

cle, keep the log for a couple of months. If your work cycle is weekly, a two- or three-week log should suffice.

Timing Tasks

Compile a simple time log by dividing your day into 30-minute

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

hunks and recording exactly how you spend your time. This will help you determine how much time you spend on useful and unnecessary tasks.

D) Reviewing A Time Log

To analyze your time log,

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

allocate all of the 30-minute time chunks that you have recorded into categories according to the nature of each task, such as meetings, reading and replying to mail, helping colleagues, or

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

making phone calls. Now calculate the percentage of your time spent on each task. This will give you a better picture of your working day and will enable you to access how you can allocate y

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

our time more affectively.

E) Breaking Down Tasks

Look at the categories into which you have allocated your tasks, and divide them into groups: routine tasks (for example, writing a regula

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

report), ongoing projects (for example, organizing a meeting), and tasks that would further develop your job (for example, making new contacts). Work out the percentage of time spent on eac

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

Following aspects would a

h group.

Allocating Time

To be most effective in your job, you should:

Spend about 60 per cent of your time in planning and development

25 per cent of your time in ongoing projects

15 p

dd to the challenges in developing combination products:

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

r cent of your time in routine tasks

In fact most people allocate their time in exactly the opposite proportions.

F) Looking For Patterns

Now that you have established how your time is

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

being allocated, ask yourself if the breakdown meets your expectations of your working day. Are you spending too much time on routine tasks, rather than concentration on the important planni

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

g and development tasks? Look at the distribution of these tasks throughout your working day. Are there times when you are really busy and others when you are slack? If so, try to find ways

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

to reorganize your working day so that you are able to work more consistently and efficiently, and achieve more.

G) Estimating Efficiency

How close is your work pattern to the idle 60:25:1

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

Professional from academic institutions, pharmaceutical industries, health care indust

time distribution shown on facing page? If you find you are spending too much time on one group of tasks to the detriment of others, work out how you can reorganize your daily schedule so t

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

hat your time is distributed more sufficiently. For example, if you find you are spending time on tasks that could easily be done by a junior, delegate them. This way you can concentrate you

.

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

energies on the areas in which you are not spending enough time.

Questions To Ask Yourself

1) Do I do work that should be done by somebody else?

2) Are there patterns that repeat themsel

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

Companies that provide selfless information through particip

ves in my time log? Am I always involved in routine tasks in the morning?

3) Do jobs frequently take longer than I expect them too?

4) Do I have enough time to be creative and innovative

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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Consultants play a part in the ongoing activities of many businesses. They come from a wide range of backgrounds and need to be evaluated carefully. Before you hire a business planning consultant, be sure you understand how they can improve your business.

Closing a sale is nothing more that leading the process to a conclusion. It’s laying all the groundwork and asking the prospective customer to proceed with the action plan. But if it sounds that easy, why is it so tough to accomplish?

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