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You are here: Home > Business > Top7 or 10 Tips > Top 7 Tips For Maximizing Your Education & Training Dollars to Deliver Positive Return on Investment |
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Useful Advices - Top 7 Tips For Maximizing Your Education & Training Dollars to Deliver Positive Return on Investment
In 2004, corporate America spent an excess of $65 billion on training and development (according to Association for Training and De 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 velopment – ASTD) delivered in many cases through the human resource departments. Yet, research suggests that possibly only 10% of ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in traditional training is actually transferred to the workplace. Consider the following tips when adopting or revisiting your traini lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. g programs. 1. Separate any symptoms from the real problem Many times the first words heard are “We need training” here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe hether it is for diversity, customer service, sales, etc. Yet, the training issue may be only a symptom of a far more perva d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ive problem. This is the time to administer an organizational assessment before the implementation of any training solution. 2. 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 Include measurable objectives Objectives should be started using verbs such as demonstrate, define or list. 3. Include opp 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 rtunities for cognitive retention Research suggests that a one time exposure to a learning event results in 2% cognitive reten nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ion after 16 days. However, 6 consecutive reinforcements such as through audio CD’s increases cognitive retention to 60-65%. 4 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 Develop the program to reflect the culture within your organization The program should be customized through the use of role- ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi laying vignettes, etc. to integrate the desired skills within the company. 5. Address beliefs and therefore attitudes Give ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a that beliefs are the foundational thought processes that drive attitudes which in turn are demonstrated as observable behaviors, t dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod en focusing on the underlying beliefs is a critical component to the ultimate success of any training or development program. 6 cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin Provide time for application Recently I read where a 6 hour one day nationally offered public workshop on communication and s tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen pervisory skills offered over 50 objectives for $175 per participant. That’s a lot of knowledge. However, if you consider 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 hat every 7.2 minutes another objective was being delivered at a cost of $3.50 per objective, that leaves very little time for inte ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust action between participants less alone opportunities for application. 7. Align program to Kirkpatrick’s Third and Fourth Levels y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products of Evaluation Dr. Don Kirkpatrick developed taxonomy on how to evaluate training. The Third Level focuses on application – Ho . 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 is the training being applied within the workplace? Level Four centers on impact of the training specific to measurable results. elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip By infusing these 7 tips into your training program, your most limited resources should quickly deliver at least double the results 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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