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  • Top Adding - Your Credit Score - How Much Is It Costing You?

    Do you know your credit score? Do you know how it affects your life?

    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
    We all know that our FICO (credit) score is important anytime we make a purcha
    ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

    Examples of combination products may in
    e. It will determine the amount of interest we pay on homes, automobiles, cre
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    it cards or any major purchase. Just a 1% increase in your interest rate (fro
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    6% to 7%) on a $100,000 mortgage will add up to about $65.00 per month...whic
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    equals $23,400 over the life of the loan.

    But, did you know that this score
    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
    ill also affect many other aspects of your life? Insurance companies, landlor
    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
    s and employers are now starting to let the credit score determine their appro
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    al rating.

    Insurance

    Your credit score can affect your auto insurance
    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
    ..your homeowners insurance...as well as your life and health insurance. They
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    on't call it a credit score, though. And it might be calculated just a bit di
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    fferently! Their term is "Insurance Score"...but it means the same thing.

    In
    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    urance companies use credit information to underwrite new business. Apparentl
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    , they find a correlation between low credit scores and increased insurance cl
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    ims. A lower score will cause a higher premium.

    It's just not worth it to ha
    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
    e anything detrimental on your credit report.

    Employment

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

    Professional from academic institutions, pharmaceutical industries, health care indust
    it! Many employers check credit scores before they hire anyone. They claim t
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    at they check your credit to verify information...but don't assume that they'r
    .

    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
    not looking at how you handle your financial affairs.

    This is yet another re
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    son to frequently check your credit report and take care of any errors quickly


    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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