Case Studies

How to Remain Competitive in a Modern Healthcare Industry

Clinical decision support system, as the name suggests, assist in making important daily decisions within a healthcare organization. The electronic system is an incredible help in making safe, sound and correct decisions that help in reducing medical errors, serving patient in a better way and saving precious time. They provide guidelines for medical practitioners to make crucial decisions and ensure that the orders are understood correctly. By correctly, we mean the improved legibility of written material and the resultant improvement in their better implementation.

Medical practice management software falls in the same category as a CDSS and helps a medical facility in maintaining the daily records and their easy retrieval at any point of time. This eases the additional burden on the shoulders of officials and staff in a hospital to ensure that records related to different patients are maintained carefully in an organized manner such that when they are needed, say five or ten years later, one can access them without any hassle. One of the impacts of such systems is the alert or warning system that ensures in correct prescriptions or medication, avoiding duplication of tests already conducted and more.

The result is improved and seamless flow of communication among different departments of a hospital and the time saved can be utilized in better patient care and hospital management. In short, the system makes the overall functioning efficient and keeps a check on the wastage of time and resources. In other words, the discharging of daily duties become akin to a business organization.

The constant innovation and increased competitiveness has thrown up challenges before a healthcare facility to provide premium quality of patient care services in a friendly environment. At the same time, one has to keep a tab on input costs while ensuring better results i.e. revenue. Clinical Decision support system and medical practice management software are a result of these needs of the modern healthcare industry driven by quality, efficiency and optimum utilization of resources.

Yasasii is comprehensive clinical decision support system software designed for all types of healthcare facilities in different settings providing user-friendly interface designed by highly experienced and leading software architects. The simplicity of usage in turn helps in unraveling the complexities of daily operations and eliminating the usage of paper using advance healthcare information management systems The ease of usage of a medical practice management software coupled with Decision Support System and Knowledge Management System simplify and reduce the work of healthcare providers, improve work flow, minimizing clinical errors, plugging leakages and increasing overall staff productivity.

What Can an Umbrella Company do For Your Business

The main benefit of using the services of an umbrella company is that they can remove the hassles associated with setting up and running your own limited company. The umbrella company will be responsible for invoicing the agency or end client on your behalf and paying you a net salary minus the necessary tax and national insurance contributions. An umbrella company will deal with all the administrative work freeing up your time to concentrate on earning money.

When you decide you want to use the services of an umbrella company there are a number of things you should bear in mind. An umbrella company is governed by the Inland Revenue and this means that the only variance in your earnings should be the fees that are charged by the umbrella company. A reputable umbrella company should not charge you according to what you earn as there is no more work involved for the umbrella company if you earn 50 per day or 500 per day. If the umbrella company quotes its fees as a percentage of your wage you should ensure you do the calculations to ensure you are paying a reasonable amount.

When you use the services of an umbrella company you will be paid through PAYE. This means that all of your tax and national insurance liabilities are taken care of on your behalf and this also means that the headache of IR35 is taken out of your hands and will no longer be an issue. This also means you will not receive any unexpected tax demands or have to worry about saving for your tax bill as this is all done for you.

Your umbrella company will also process all your work related expenses. As an independent freelancer the Inland Revenue allows you to claim certain expenses. These expenses are offset against your gross earnings and therefore reduce your tax and national insurance liability. You must make sure you obtain a receipt for every expense that you claim as if you claim and cannot prove you have incurred the expense this could result in an investigation by the Inland Revenue and could ultimately end up in a fine.

When you are researching potential umbrella companies you should be sure to ask if there are any hidden costs or penalties for leaving the umbrella company. A personal recommendation is always a good indicator but be aware many umbrella companies offer incentives to their current clients to make recommendations. If it seems too good to be true, then it probably is!

Cloud 9 is an extremely reputable umbrella company, and has an experienced team of accountants to ensure all their solutions are compliant with HMRC regulations. They have a cost-effective, competent and personal service to cater for your individual needs. Visit their website to view the full list of services they have to offer.

History of Indian Mutual Fund Industry

With the emergence of diverse productive avenues for investing, mutual funds have become one of the most popular investment options. This is a simple investment product structured around the concept of risk mitigation by spreading investments in multiple channels. According to Nielsen global survey of investment attitudes,it is one of the favourite investment options that ranked atop among the other assets like precious metals, stocks and bonds.

In this article, we will look at the history of the mutual fund industry which grew fairly successfully and helped large number of investors generate wealth over the years.

Entry of mutual funds in India (1963)

This concept emerged in India in 1963 by the formation of Unit Trust of India (UTI) which is a watermark in annals of this industry in India. These are initiated by government and the Reserve Bank of India (RBI), with an aim to attract small investors and were focused mainly on investing for creating wealth in the long run.

Monopoly era by UTI (1964-1987)

Established through an Act of parliament in 1963, the Unit Trust of India (UTI) enjoyed monopoly status for 23 years and functioned under the regulation of RBI for a period of 15 years. Later, it was de-linked from RBI in 1978 and functioned under the regulation of Industrial Development Bank of India (IDBI) which took over the administrative control in place of RBI. The first unit scheme of UTI was launched in 1964 and later more innovative schemes were launched in 1970’s and 1980’s to attract and suit the needs of Indian retail investors. By the end of 1987, the Assets Under Management (AUM) of UTI increased by ten times to Rs 6700 crore.

Entry of Public Sector Players (1987)

Public sector mutual fund players entered in the market in 1987. SBI mutual fund was the first non-UTI mutual fund in India. It has been successfully managing large investor’s funds since 1988. It launched many schemes to provide investors with opportunities for making profits in a diversified basket of stocks of Indian companies.

Later, such schemes were launched by Canbank mutual fund in (1987), Life Insurance Corporation (LIC) in (1989), Punjab Mutual Fund (Punjab National Bank) in (1989), Bank of India in (1990), General Insurance Corporation (GIC) in (1990). By the close of 1993, the AUM of this industry had increased seven times and had Rs 47,004 crore of assets under management. However, the UTI retained its position as the dominant player with 80% market share.

Entry of Private Sector Players (1993)

To provide a wider choice of funds to Indian investors, private sector players along with foreign companies were permitted to enter into the industry in 1993. In the same year, the first mutual fund regulation was passed, saying all mutual fund companies except UTI need to be registered and governed. In 1993, the erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund company in India. During 1994-95, 11 private sector funds have launched their schemes introducing innovative investment strategies.

SEBI – Mutual Funds Regulation (1996)

This industry witnessed a sea change in the 1990s. In 1993, the industry started functioning under the regulation of Securities and Exchange Board of India (SEBI). This is, probably, the most elaborate regulatory effort in the history of mutual fund industry of India. Consequently, there was a spurt in the number of mutual fund houses with many foreign players setting up funds in India. By the end of 2003, there were 33 mutual fund companies with total AUM of Rs 1,21,805 crore. The largest UTI had Rs 44,541 crore of AUM in the same year.

In 2003, UTI was disaggregated into two entities. One is the Unit Trust of India with AUM of Rs 29,835 crore (as on Jan 2003). This has been functioning under an administrator and under the rules framed by Government of India. This does not come under the purview of the Mutual Fund Regulations.

And the second one is UTI Mutual Fund Ltd, sponsored by State Bank of India, Punjab National Bank, Bank of Baroda and LIC of India. This is registered with SEBI and functions as per mutual fund regulations. Currently Unit Trust of India works under the name UTI mutual fund and some of its earlier schemes were gradually wound up. However, UTI mutual fund is the largest player in the mutual fund industry.

As Indian this industry experienced major growth, simultaneously international mutual funds like Fidelity, Franklin Templeton Mutual Fund, etc. entered Indian market. There are 44 mutual fund players in the market until March 2012. This industry has AUM of Rs 6.92 lakh crore as on June 2012.

Esources Scam The Proof Simply Does Not Exist

Attempts to project the largest trade directory in the UK as an esources scam is being made by certain devious elements. The tirade has been going on for quite some time now, but the effort has fallen on its face every time. It is probably a confirmation of the fact that UK trade buyers and suppliers have an unshakable faith in the trade directory and its popular and innovative trading features.

The UK trading community is not giving much importance to the esources scam clattering because they know exactly where these rumors are coming from. In the past, esources has played an important role in exposing fake suppliers and dropshippers operating on the UK e-commerce scene. They have, in fact, forced quite a few of these mischievous elements to shut down their scam shops and have put them out of business. This has infuriated the scammers, and they are now using the review portals and trade blogs to sully the reputation of esources by painting them as cons.

Despite the esources scam rumors, the trade directory continues to grow at a rapid pace. Thousands of trade buyers, wholesalers, distributors, manufacturers, and agents register with the portal every month. The numbers are burgeoning at a fast clip and have already taken them to the numero uno position among UK trade directory service providers. The portal continues to be the favorite destination of buyers and sellers because they strive to improve the trading experience through innovative and easy-to-use trading tools and features.

Esources is the largest resource of verified wholesale and dropship distributors on the Internet today. It is also one of the cheapest directories to use because subscriptions are low priced and tailored to meet the needs of small and medium retailers. If you are using a premium membership service, you are entitled to unlimited e-commerce websites with free hosting. Buyers can also benefit from free eBay market research credits and the free eBay Business Handbook, which is a best seller that traders rely on to become successful eBay store business owners.

Esources is proactive in exposing scams and other illegal trade activities and has been largely responsible for providing the UK trading community a safe and secure trading platform to transact business. You can be sure that there are no middlemen or con artists at work here because the suppliers listed on the directory are individually verified. Trade buyers can simply choose their desired products through the extensive yet well-organized product directory and choose the supplier they want to deal with quickly.

It is now pretty evident that the attempt to project the portal as an esources scams has failed miserably. Traders are hardly bothered by these rumors because they have firsthand experience of what esources can do for their businesses. Esources is one of the few directory services that works for the benefit of buyers and safeguards them from overpriced products and unscrupulous elements. Experts continue to monitor and review the existing sources to ensure maximum protection to buyer members.

Why Socially Responsible Business Can Prosper

If you are thinking about a new business start up, this may be a good time to also think about a social business start up. A social business is one that does make a profit and pay salaries. It also helps to further some socially responsible goal. Are you interested in this idea?

Of course, this idea is not entirely new. There are, actually, some very ethical business models from the past. We tend to pay attention to the bad guys, and sometimes the good guys do not get a lot of notice. But this new term, social business, tends to refer to enterprises that really focus on helping some worthy cause as a big part of their business model.

Is this the same as a not-for-profit corporation? As we understand it, a social business is not exactly the same thing as a non-profit business. A non-profit, as the name implies, does not make a profit for the owners. It may, however, pay salaries to employees. Social businesses do try to make profit. They use a portion of this profit to fund their social aims though.

One good example is peer to peer lending. Investors do want to make a profit. However, borrowers may also hope to get loans with more friendly terms than they could get from major financial companies.

How do these businesses work? Actually, there are several types of social business models. Some may do business with the aim of giving a share of profits to worthy causes. Some may offer a service, at a lower cost, than traditional companies offer that service at. Some companies may just strive to do business in a very socially responsible way. Still others may concentrate on employing a certain group of people. And finally, some of these companies manufacture goods. For each purchase, the manufacturer may donate another product.

You can see that there are several ways to make a business socially responsible. By now, you have probably figured out that a lot of different kinds of businesses could apopt this business idea. They could still make a profit, but could do it while benefiting people locally, nationwide, or all around the world.

Social business may also be very good business. A lot of consumers would not mind spending their money at a company that promotes some of the same ideas that they have. Some people might even be willing to spend a bit more for their soup.

For example, let us say that a small company makes a line of tasty and healthy organic soup. As part of its social business, this soup maker will donate a can of soup for every 12 cans of soup purchased. Would you be willing to purchase 5 cans of soup, instead of your normal brand, if the soup was also healthy and tasted good? If so, you are not alone.

Social business may be good business. Maybe it is time for you to incorporate some socially responsible business ideas into your next business start up idea!