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Useful Advices - Trucking Freight? How to Get Truck Loads of Financing with Factoring
As a trucking company owner you are very aware that transportation companies are quite demanding when it comes to ca
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
sh flow. They need regular cash to be able to meet all the ongoing expenses. As long as cash is coming in at a nice
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ate, your trucking company operates like a well-oiled machine. But if there is a hiccup in the cash flow, the well o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
iled machine starts creaking. And if there is a major cash flow problem, gears start flying all over the place and 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
e so-called well oiled machine comes to a grinding stop.
What is the biggest source of cash flow problems for small
What is the biggest source of cash flow problems for small
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
and mid sized trucking companies? Slow paying clients. Clients that take up to 60 days to pay their freight bills.
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
lthough large trucking companies can certainly handle waiting – small trucking companies with few power units usuall
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
y cannot afford the wait. As an owner, you need the money and you need it now.
Is the solution to turn away slow pa
Is the solution to turn away slow pa
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ing clients? Absolutely not. That would be business suicide. The solution is to eliminate the wait by financing your
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
freight bills using freight bill factoring.
The concept behind factoring is very simple. Factoring companies provi
The concept behind factoring is very simple. Factoring companies provi
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e you with cash for your freight bills. Usually in 24 hours or less. You get immediate funding while the factoring c
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
mpany waits to get paid. With factoring, you get immediate money for your slow paying freight bills, which allows yo
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
u to pay drivers, maintain power units and buy fuel.
Factoring is very easy to qualify for and very common in the t
Factoring is very easy to qualify for and very common in the t
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ucking industry. Most trucking companies can easily qualify since the main requirement is that they do business with
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
good (although slow) paying clients. It allows you to easily do business with clients that pay in 30 to 90 days and
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
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
eliminates the stress of having to wait to get paid.
How does freight factoring work? It’s simple:
1. You deliver
How does freight factoring work? It’s simple:
1. You deliver
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
the load and submit copies of the documents to the factoring company
2. The factoring company advances you about 90
2. The factoring company advances you about 90
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
of the freight bill in 24 hours (the remaining 10% is used to cover billing disputes). You get money almost immedia
.
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
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
tely
3. Once the factoring company is paid by the client, the remaining 10% (less a small fee) is rebated to you
A
3. Once the factoring company is paid by the client, the remaining 10% (less a small fee) is rebated to you
A
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
you can see, factoring eliminates the wait to get paid and gives you the cash you need to run your trucking company
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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