Credit Score Tips – Getting Your Credit Score to Work For You

This is a topic for those of you who often deal with credit cards or for the process of repayment and other loans.Here will be discussed some things that are very important to know by you as the customers because it will relate to the future.Nowadays it is not taboo if someone will try another credit after he has paid off the credit he already had.But the question is, does what you propose will be easily accepted by the lender? On the other hand, if you have a good credit history then this will not be a problem.Because your track record will be archived at the underwriter when you will use the services.Thus this credit report will provide feedback to prospective lenders whether your submission is accepted or on a decline as well as a basis to provide interest on your loan.From here the assessment will be done and the results are concluded.Any data of yourself as a credit customer will have a value as a reference of the guarantor in providing assistance again at a later time.The function of credit score here is certainly very clear. For lenders will greatly assist the survey process and the amount of loan to be approved.Likewise, for the recipients of the loan (the customer), the credit score will assist in obtaining wider access to the lender by relying on their own financial reputation without having to depend on the ability to provide collateral.For lenders, there will be certain criteria that become standard. The following are the credit scoring criteria determined by one of the banks.


Place of Work (business field)

Number of self-financing

Marital status

Working period

Relationship with the bank

The number of dependents

Types of loan collateral

The husband/wife profession

Net income

Current credit status

Educational status

Other Income

Credit/debit card ownership

Job title

Any information from the above criteria has different weights. Important information such as the accuracy of your loan payments will have a higher value weight than others.Like the previously mentioned credit score function, the credit score will help the bank determine whether your loan is approved or not, and also can determine the amount of loan you will get, how many terms you get and how much interest the loan will be.If your credit score turns out to be small, you may still be able to get a loan but with higher interest, or you are required to provide collateral.Have you had a bad history regarding this credit score? Don’t worry, we will review how to improve your credit score.How to Increase Your Credit Score1. Use Credit Cards RegularlyThe great effect on your credit score level is the credit card.So do not be surprised if you want to borrow or purchase on credit, the lender will ask if you are a credit card user or not.The credit card itself is ideally a substitute for cash as a means of payment. So, if you never use your credit card, then there will be no data recorded in the bank.You can use credit cards for payments, especially expensive items, such as airfare and hotel payments, or buying electronic goods.After that, use a credit card for a smaller payment like eating in a restaurant. It can improve your credit reputation slowly.2. Avoid Delinquent Credit Card BillsIn the use of credit cards, delinquent bills are strictly prohibited. The level of customer credit collectibility is one-way banks assess the quality of a person’s credit.This level is divided into five criteria, ie smooth payments, special attention payments, substandard, doubtful, and bad credit.Advice for you as a credit card user, try to pay monthly bills of 10% first. But if you are able to pay the full course would be better to avoid the high interest every month.As with loan installments, make the same effort to pay 10% of the initial bill and pay as many bills on time as possible.3. Reapply When Your Credit Approval is RejectedWhen your loan or credit card submission process is denied, give the waiting period a few months before re-submitting.During this waiting period, you can check what is wrong with you as a customer.For example, you have applied for credit of more than 30% of income, or you still have other repayment responsibilities. Try to focus to pay off all your debts first.Then after that, you can apply for credit card with low limit first. This can be seen as a positive indication to the bank that you are a trustworthy debtor that can help improve your credit score.ConclusionRemember that credit cards are just an alternative way of a payment process and not necessarily a habit. And even if you really need to use the credit system over and over again, it’s not a problem either. Keep your good credit score, a commitment to it, and consistently to live it. The higher your credit score the faster your credit application will be.

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Short-Term Bridging Finance – Find Out How It Can Benefit You

If you need to obtain financing, you may be concerned that it’s going to take you forever to get it. When you apply for a standard form of financing, not only do you have to deal with piles and piles of paperwork, but the processing period can take an extremely long-time. While this may simply be an inconvenience in some cases, in others it can ruin your purpose for obtaining financing in the first place. For example, if you identify an appealing property that is currently being offered at a reduced price, you need to obtain financing as soon as possible. Otherwise, someone else is going to get to pick up that great deal before you.Fortunately, there is an option that can allow you to obtain financing in a much shorter period of time. This option is called short-term bridging finance. If you haven’t heard of this option before, you’ll be interested to know that there are quite a few benefits to it. The first is that it can be used for a wide range of purposes. While many financing options have a narrow list of uses, bridging finance can be customized to your needs. As previously mentioned, this type of financing can be used if you identify an underpriced property. The same goes for a property that you find at an auction. You can also use bridging finance if you’re interested in purchasing a commercial development. If you’ve decided that you want to upgrade your home or another property that you own, that’s another potential use of this type of short-term finance. It’s also possible to obtain bridging finance against the value of a property as a type of general loan that you can use.As its name implies, another appealing feature is that bridging finance is a short-term option. Unlike many other options, you can choose the financing duration that is the best fit for your needs. Whether it’s four months or twelve months, this is yet another factor you can control for this type of financing. Given the amount of flexibility that has already been discussed, it shouldn’t come as a surprise that the actual process of obtaining this option is much simpler than other financing routes. It’s because of this simplicity that you can obtain this financing option in a matter of days.If you’ve had bad experiences with other forms of financing in the past, it’s time for you to discover how much easier things can be when you choose short term Bridging finance. One of the biggest differences you will notice if you decide to pursue this type of financing is that the lender will actually work with you instead of seeming to work against you. This is evident in everything from how valuations are calculated to the flexibility that is provided for the terms of your financing. Regardless of your specific goals, there is a strong chance that bridging finance can help you reach them in a shorter amount of time.

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The Future of Healthcare: Five Technologies To Look Forward in 2018

There’s no wonder that the technological advancements have a significant impact on our lives. From navigation of apps, to guide you home safely, everywhere technology is playing a significant role.However, technology in healthcare industry is transforming convenience, patient communication, improving diagnosis levels and prove to be life-saving.The key technologies are providing the foundation for many booming healthcare innovations that are disrupting the industry. To keep pace with this continuous transformation, healthcare organization will need to embrace new technologies that will improve health outcomes, make it cost-effective, and provide value-based care.Overview
As healthcare shifts to a model of any-time, any-place, continuous and personalized care, it is essential to analyze the prime technologies that will redefine the future of healthcare segment in 2018.” We believe consumer health technologies – apps, wearables, self-diagnosis tools – have the potential to strengthen the patient-physician connection and improve health outcomes.”- Dr. Glen Stream, Chairman, Family Medicine for America’s Health
The emerging new technologies combined with the variety of new drivers that include technology-centric transformation not only leads to cost reduction but also ensures value-based care in the healthcare industry.Healthcare industry has been impacted in a substantial positive way in case of automation, machine learning, and artificial intelligence.According to a study from the University of Michigan, the transformation of information from the conventional paper to electronic health records through digitization reduces the cost of outpatient care by 3%. These researchers estimated this as $5.14 in savings per patient each month.Healthcare industry is facing revolutionary changes, looking out for the innovative ways to deliver the best patient outcomes while eliminating the dramatic healthcare expenses. What does the future of healthcare hold in 2018? Let’s look at six promising technology ready to transform the healthcare environment.Artificial Intelligence
Artificial Intelligence plays an integral role in reshaping healthcare. The adoption of artificial intelligence in the healthcare industry is gaining momentum and solving a variety of problems of patients, hospitals, and healthcare industry faces.It will provide much of the bedrock by powering predictive analytics and clinical decision support tools that help the providers into problems long before they might otherwise recognize the need to act.Nowadays every patient is digitally empowered and prefer personalized care that has more accountability and is also more affordable. Artificial Intelligence does have numerous implications on various fields of the healthcare industry that includes disease management, clinical trials, diagnosis and treatment, patient engagement, monitoring of the patient, and wellness management.AI is dominating healthcare treatments, such as making better treatment plans, assessing data to provide customized medication, and monitor procedures.Artificial Intelligence
AI has the potentiality to track the chronic diseases through MRI, CT scans, ultrasound and x-rays, and thus saving the time of the patients to wait for a diagnosis from weeks to a few hours.According to a 2016 report from CB Insights, about 86% of healthcare provider organizations, life science companies, and technology vendors are adopting artificial intelligence technology in healthcare. By 2020, these organizations will spend an average of $54 million on artificial intelligence projects.Let’s look at some of the ways how AI is redefining the healthcare industry:AI helps in compiling and analyzing information (medical records, patient information, and treatment history) using artificial intelligence and digital automation. Robots collect, store, re-format, and trace data to provide quick delivery of healthcare services.
Analyzing tests, X-Rays, CT scans, data entry, and other tedious tasks can all be done faster and more precisely by robots.
Artificial intelligence systems have been designed to analyze data, assess the reports from a patient’s file, and thus help them to choose a suitable treatment plan. With the power of AI, early detection of life-threatening disease is possible.
AI helps in monitoring patient’s fitness level and send health updates to the respective provider to improve or alter patient’s treatment plans.
The demand to bring dramatical changes has always been an underlying ripple in every facet of business, and when it comes to healthcare, this is done with a sense of inimitable urgency. Creating high valuable virtual records associated with a patient is one of the most significant challenges of healthcare IT.The blockchain is a distributed system that records peer to peer transactions, tracks the changes across networks, and stores and exchanges data for cryptographies. Blockchain technology has the potential to revolutionize healthcare, placing the patient at the core of the healthcare ecosystem and enhancing the security, privacy, and interoperability of health data. This technology will offer a new model for health information exchanges (HIE) by making electronic medical records more effective, and secure.Healthcare Blockchain Adoption- 2017, 2020, and 2025
This statistic depicts the projected distribution of healthcare blockchain adoption across healthcare applications worldwide, in 2017, 2020, and 2025. It is projected that 55 percent of healthcare applications will have adopted blockchain for commercial deployment by 2025.”Adoption of blockchain technologies will be driven organizations basing their development on providing better quality care much the same way the regional health information exchange concept kicked off digital health data-sharing. In some jurisdictions data exchange worked pretty well.”- Brian Behlendorf in an interview with
How Blockchain will impact healthcare?
Security and privacy: Patient privacy and confidentiality are the prime issues within healthcare. For those in healthcare, necessary steps need to be taken to prioritize and improve security. Although there have been initiatives, blockchain could be the perfect solution for healthcare.
Collaboration and governance: A massive amount of available data has increased in the past few years, and it will continue to do so. Blockchain would improve data governance, achieve greater ownership in the data, enhance interoperability, and result in better data-driven decision making.
Data and analytics: Blockchain technology is defined as a shared, permanent record of peer-to-peer transactions that will provide new insight on how healthcare providers store and exchange data, resulting in greater transparency and trust. Shared data within the virtual database will lead to the continual updates, thus improving the real-time analytics.
Data Science
The health data volume is multiplying, and it is expected to breed dramatically in the years ahead. With more than 1.2 billion clinical documents are produced in the U.S. yearly, doctors and life scientists have an ocean of big data for their core research. Moreover, massive amount of health-related information is produced and shared with adoption of wearable tech. The wave of such data flow opens new opportunities for more informed healthcare.Data science stands an effective healthcare trend to optimize the way hospital operations are managed. With data science, the industry can find well organized, cost-effective ways to harness vast amounts of existing healthcare data, enhance its potential to revolutionize healthcare with a precise diagnosis.With the capability to collect, structure, and process a high volume of data and analyze a pattern, to gain in-depth knowledge of the human body is the essential requirement for data scientists and machine learning experts across the world.Data Science
Despite having a vast amount of health data at disposal, the diagnostic failure rates are still high. According to the recent research by the National Academics of Sciences, Engineering, and Medicine, around 5% of adult patients are misdiagnosed every year in the United States making it a total of 12 million people. Additionally, the postmortem examination results research reveals that diagnostic errors cause almost 10% of patient deaths.Whether it’s predicting a patient with a tumor, the risk of re-admission, or the misclassified diagnoses in electronic medical records, data science plays a significant role. Data science will transform the future of the healthcare by managing and organizing enormous volume of data that will prevent healthcare problems and saving lives of millions.How Data Science Will Transform Healthcare?
Disease Management: Employing data science can increase the accuracy and efficiency of the diagnosis. Big data also helps in reducing medication errors by improving financial and administrative performance and reduce readmissions. By detecting the disease patterns and recording disease outbreaks, public health issues can be improved implementing data science in healthcare.
Patient Profile: An EMR contains the standard (structured and unstructured) medical data that can help to detect which patients are at risk and provide him adequate care. Advanced data science can be applied to patients’ profile for identifying individuals who can benefit from the proactive approach. It also includes lifestyle changes.
Machine Learning
It is one of the critical technology in healthcare that can dramatically improve clinical decision making, administrative functions, patient monitoring, and pharmaceutical research is Machine Learning. By implementing machine learning technology in healthcare, we can- detect patient’s health real time, understand the disease patterns, find possible treatment, and analyze result with a clinical trial that is underway.Machine Learning
With the aid of machine learning, mobile-enabled care management platforms can be made available to offer all stakeholders customized plans, automatically adjusting based on experiences.Uncompensated care is one of the rapidly growing problems for most healthcare systems. With machine learning, health systems can determine who needs reminder alerts, who need financial assistance, and how the patterns of payment change over time.Predictive Analytics
Physicians are smart, well-skilled and they like to stay abreast with the advanced research. It’s not possible for them to memorize and gather all the knowledge they require for every situation, and they probably don’t have it easily available at their fingertips. Though they have the access of the massive data in hand required to compare treatment outcomes for all various types of diseases they come across, but they still lack time and expertise to assess that information and integrate it with the patient’s own medical profile. But this kind of comprehensive research and statistical analysis is beyond the reach of a physician’s work.That’s why myriads of the physicians – as well as insurance companies – are adopting predictive analytics.Predictive analytics (PA) utilizes technology and statistical methods to gather huge amounts of information, that stands necessary to detect the patient’s outcome. That information can imbibe data from past treatment results as well as the advanced medical research published in peer-reviewed journals and databases.Not only can PA help to solve difficult issues and predict but it can also display amazing associations in data that our human brains fail to suspect.In medicine, predictions may vary from medication responses to hospital readmission rates. Examples are diagnosis of infectious diseases from methods of suturing, assessing the likelihood of disease, helping a physician in examination procedure, and even detecting the future wellness.How PA is improving healthcare?
We all know that the early intervention is the key to preventing the severity of diseases. With predictive analytics, doctors can analyze the patient’s condition earlier, and make a much more informed call. Predictive analytics assesses the likelihood that patient can be sent home safely or taken under observation.
Pharmaceutical companies are utilizing predictive analytics to detect the effects of old vs. new medication for a disease to aid their decision-making process. Make informed research on cancer, Ebola, HIV and other viruses.
Predictive analytics in healthcare has been hugely significant in detecting a patient’s risk of contracting an illness by analyzing past treatment history, understanding the immune system of similar patients, and medications records.
The more efficient way to prevent fraud and abuse is to detect it before claims are paid. Moreover, healthcare payers have now embraced the same predictive analytics to identify the fraudulent patterns and then develops sets of “rules” to “flag” specific claims.
Quick Takeaway
Artificial Intelligence and Machine Learning will massively impact on the healthcare ecosystem especially in the field of diagnostics, pathology, and radiology.
Blockchain technology will emerge as a critical component of the healthcare system which will see an increasing adoption among the healthcare operators in the patient records management segments as patients demand greater control over their health data.
Machine Learning techniques can help the healthcare business to run much more effectively and in a more predictable way.
Predictive Analytics will provide a new outlook to the healthcare business with more precise treatment, monitoring, and diagnostics, thus saving lives of many
Data Science will see increasing adoption among medical care providers as it will contribute towards a range of operational functions in the healthcare.
Technology has a lot of room for growth in healthcare, and in 2018 will see how companies are applying these intelligent tools to their organizations. Whether you are looking for an AI-driven solution or applying machine learning to your current healthcare software, you need a right team to create a smooth journey for you. If technology is one of your challenges, OSP Labs’ experts are ready to help!Source:-

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