Technology Trends in Cardiovascular Treatment and Services

Advances in medical technology and changes in lifestyles have affected cardiovascular risk factors. These factors have impacted the incidence and mortality of cardiovascular diseases. However, new technological devices are being developed to fight cardiovascular disease and treat associated heart problems.

With the increasing number of patients with heart conditions, therapies that use implantable devices and interventional procedures are gaining traction among health practitioners. For example, there has been a notable movement from traditional vascular surgical or open-heart procedures to interventional procedures, such as transcatheter valve technologies, which are often less invasive. Transcatheter procedures include aortic valve replacement, transcatheter valve repairs, and transcatheter mitral valve replacement. In the future, catheter-based interventions are likely to be developments that cause declines in heart surgeries.

In the treatment phase, artificial intelligence (AI) is taking over many traditionally manual tasks, such as gathering and monitoring patient data. AI enables computer systems and mathematical models to perform tasks previously done by humans. AI also handles patient questions and alerts doctors of potential problems. In addition, AI-generated information based on lifestyle and environmental factors can help identify patients who may benefit most from certain cardiovascular interventions.

AI software can also identify patients who need counseling or extra care during or after cardiovascular treatment. In the course of treatment, AI can help identify anomalies and perform computed tomography (CT) imaging and echocardiograms. In addition, AI captures data from sources such as wearables and integrates them into electronic health records (EHR).

Healthcare providers, through EHR, can access critical patient information 24 hours a day, allowing for better-coordinated healthcare. EHR data can also be integrated into models to predict disease trajectories. Increasingly, AI is used to refine the selection of therapies by analyzing patterns in molecular biology and clinical trial databases.

Cardiovascular healthcare providers can also leverage AI and robotic technology for diagnostic purposes. The use of robotics is better suited for less invasive and smaller precise interventions that are more comfortable for the patient. In addition, robots are increasingly deployed as adjunct care home care providers after surgery.

Information technology solutions are being used in increasingly sophisticated ways for treatment. Many cardiovascular hospitals and units have adopted integrated electronic medical records (EMRs) that allow the accessibility of all departmental and patient data in any location. Advanced analytics software mines the data faster and identifies workflow inefficiencies.

In the past, pulling data was a tedious process, and the information usually was not accessible in real-time. Today, modern analytics software enables cardiovascular doctors to get all the information they need as they treat or manage patients with customizable dashboards that display all aspects of patient care.

New technologies are also facilitating and enhancing home care for cardiovascular patients. Many technologies allow the healthcare team to check the health status of patients remotely through telehealth. Telehealth technologies include mobile apps, smartphones, and wearable devices that measure, track, and send data wirelessly. For cardiovascular patients, the data includes blood pressure, heart rate, and oxygen levels. Similarly, the increasing capabilities of smartphones and broadening connectivity can help healthcare providers diagnose, monitor, and prevent cardiovascular diseases better.

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Perspectives on Structured Financial Products

 Structured financial products are investment instruments available to large companies or financial institutions with complex financing needs that cannot be satisfied through conventional financial products. Such borrowers seek structured financial products to satisfy heavy capital injection needs or deal with unique financial instruments.

Structured financial products provide investors with a return linked to the performance of an asset or product. The asset or product can cover an index, equity, fund, currency, commodity, interest rate, or property market. Structured financial products are prepackaged investments that usually include assets linked to one or more derivatives (complex financial contracts whose value is linked to an underlying asset).

Generally tied to a group of securities or an index, structured financial products are designed to meet highly customized risk-return goals. Structured finance deals work to mitigate serious risks associated with many complex assets. The level of risk and payoff can be predefined.

Structured financial products include collateralized bond obligations (complex structured finance products backed by a pool of loans), syndicated loans (loans extended by a group of lenders), credit default swaps (a type of financial derivative), hybrid securities (security that combines both equity and debt features), collateralized debt obligations (structured products issued by a special purpose financial vehicle), and collateralized mortgage obligations. The latter is a type of mortgage-backed security organized by level of risk and maturity.

Typically, traditional lenders do not offer structured financial products. Also, structured products are mostly nontransferable. Unlike a standard loan, these products cannot be shifted between different types of debt.

At the core of structured finance is securitization, the method through which structured finance operators create asset pools. Ultimately the pools form complex financial instruments that large investors and corporations use to meet special needs. Securitization works to combine financial assets and instruments such as asset-backed securities (ABS), credit-linked notes (CLNs), and collateralized debt obligations (CDOs). ABS are securities derived from a pool of underlying assets, while CLNs are forms of funded credit derivatives.

Securitization promotes liquidity and is used to develop financial products for investors. Increasingly, corporations and financial intermediaries use securitization and structured financing to expand business reach, develop new financial markets, manage risk, and design new funding options for complex emerging markets.

Securitization is also important in structured finance products to reduce the focus on credit and provide alternative, less costly funding formats. Securitization promotes the efficient use of capital and transfers risk from investors. In particular, borrowers who lack stellar credit ratings can leverage securitized and structured financial products at cheaper rates.

Mortgage-backed securities (MBS) are examples of securitization, largely because of their risk-transferring ability. Mortgages can be grouped into a single large pool that allows the issuer to subdivide the pool into pieces based on the inherent risk of each mortgage. These pieces are then sold to investors.

Structured financial products can provide tailored solutions to meet a specific strategy in nearly all market configurations. However, while structured financial products are useful tools for risk management and portfolio management, they generally are complex. To meet specific investor requirements, such levels of sophistication are necessary as individual investors have their own unique investment profiles as well as market knowledge.

The performance of a structured financial product depends on the performance of the underlying index or asset. Therefore, adverse price movements could trigger a loss of capital. Structured financial product investors may not have access to their principal investment during the term of the structured note or deposit without the risk of losing a portion of the principal. If the issuer of the structured financial product goes into a debt default, investors may lose the entire principal.

Technology and the Insurance Industry

Innovation enabled by merging technologies is driving change in the financial sector. The insurance industry is no exception. New technology supports new methods of insurance service provision and fraud detection. In particular, technology-enabled data collection can enhance risk identification and mitigation measures.

Traditionally, insurance company operations and technology have operated independently. Insurance marketing, underwriting, and claims drove operations, while technology facilitated employee efforts. The situation is changing quickly. “InsurTech” describes the new technologies revolutionizing the insurance sector and transforming the industry’s regulatory practices. Several broader technological innovations and developments underpin many changes brought by InsurTech.

Mobile technology and apps have profoundly changed the face of insurance. These technological devices have allowed many insurance companies to target and reach bigger audiences than ever. Smartphones allow insurance companies to dispatch short messages to customers. Also, customers can access insurance packages through mobile devices, reducing the cost of insurance agents and brokers.

Eventually, technology may take over most traditional insurance operations. More insurance companies are channeling more resources to software-as-a-service (SaaS) applications. The goal is to sidestep complex and often expensive core information technology systems.

Today, insurers are using SaaS for HR management and commission processing. Technological applications also offer flexibility that minimizes manual work. For example, artificial intelligence (AI) will enhance insurance distribution, underwriting, and claims processes. In auto insurance, for instance, risk will shift to the AI software installed in many vehicles, including self-driving cars.

As AI becomes more prevalent, insurance carriers can re-engineer their core processes to be more predictive. Also, as cloud technology matures, many core systems will help insurance companies to be nimbler when launching new products and promote better customer service.

Drones and satellites, backed by real-time data, give insurance companies unprecedented insights into the risk around structures, facilitating greater accuracy during insurance assessments or claims. Claims processing, particularly after natural catastrophes, can be automated and expedited faster. In addition to reengineering core processes, insurance carriers and industry players can leverage AI to create better products based on data analytics.

The insurance sector is using telematics, apps that merge telecommunications and informatics to enable the wireless sharing of information. Already, many new cars have built-in telematics devices that track driving habits and pass them on to insurers. The data is monitored and processed using analytics software to determine suitable insurance policy premiums.

The impact of the Internet of Things (IoT) on the insurance sector cannot be ignored. Many consumers willingly share personal information that can save them money on their insurance policies. The IoT can automate the gathering of such data. Insurers can leverage data from many IoT devices, including wearables, smart home components, and automobile sensors, to mitigate risk and determine appropriate premiums.

For example, IoT can enable real-time monitoring of facilities or equipment and promote proactive maintenance and prevention. Similarly, 3D and 4D printing can potentially transform claims processing and enhance customer experience.

The role of social media in the insurance industry has evolved beyond eye-catching insurance advertisements and marketing strategies. Social media data mining is improving risk assessment, augmenting fraud detection, and creating innovative customer experiences.

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A Guide to Corporate-Owned Life Insurance

 Corporate-Owned Life Insurance (COLI) is a type of life insurance taken out by a business on an employee's life. Companies can do this even without the employee's knowledge or consent. When an employee dies, the policy's payout goes to the company rather than the individual's loved ones.

Coverage under a COLI policy may continue for up to a year after an employee leaves their position. Because some corporations have exploited COLI tax loopholes, the Internal Revenue Service (IRS) now requires them to meet specific standards to earn a tax-free death benefit. The company can only buy COLI coverage for 35 percent of the highest-paid employees.

There are several potential benefits of COLI for businesses. Businesses use after-tax dollars generated from operations to pay for life insurance policies. This allows for lower taxes, which can result in more money being available for investment or other purposes like salary increases without sacrificing the company's bottom line with high rates and expensive coverage options that may sometimes be unnecessary.

When a business owns a policy on an individual shareholder, the policy usually protects the individual shareholder from the creditors of the individual shareholder. With the right setup, it is possible to keep beneficiaries' death benefits safe from the company's debt collectors.

A company can pay for the premiums of several shareholders or key people, even if the costs of the premiums are different for each person because of their age or health. Therefore, each shareholder will receive an equal part of the future cost and benefit of the premiums the company pays. This is preferable to having each shareholder pay for their insurance coverage since it makes premium payments more evenly distributed.

Furthermore, the business can easily manage various policies for its shareholders and employees through centralized administration. This includes making premium payments, validating the status, or claiming benefits from an insurance company.

For tax purposes, a company with a permanent insurance policy can deduct the cash surrender value as an asset until the money is redeemed or withdrawn. This allows corporations more flexibility when it comes time to invest and diversify their assets without having a significant amount invested in one type alone.

If the insured passes away, the company may pay out the life insurance payout to the insured's loved ones as a tax-free capital dividend. Subtracting the policy's adjusted cost basis (ACB) from the death benefit yields a tax-free payout; holding a policy until death makes it possible to pay the death benefit tax-free.

COLI can be constructed in various ways to achieve many business goals. The informal funding of specific kinds of nonqualified deferred compensation (NQDC) schemes is a frequent goal of COLI. The business may get a death benefit from the key employee's life insurance, and buy-sell agreements may be utilized to buy out the deceased owner's or partner's stake in the company if the key employee has one.

Using COLI as a source of unofficial funding for an NQDC strategy is not without its share of dangers, just like any other economic activity. Using a COLI insurance to informally finance an NQDC plan can deliver significant tax savings and cash flow benefits to the corporation while being exempt from most Employee Retirement Income Security Act of 1974 (ERISA) regulations, provided the plan is structured correctly.

Technology and the Insurance Industry

Innovation enabled by merging technologies is driving change in the financial sector. The insurance industry is no exception. New technology supports new methods of insurance service provision and fraud detection. In particular, technology-enabled data collection can enhance risk identification and mitigation measures.

Traditionally, insurance company operations and technology have operated independently. Insurance marketing, underwriting, and claims drove operations, while technology facilitated employee efforts. The situation is changing quickly. “InsurTech” describes the new technologies revolutionizing the insurance sector and transforming the industry’s regulatory practices. Several broader technological innovations and developments underpin many changes brought by InsurTech.

Mobile technology and apps have profoundly changed the face of insurance. These technological devices have allowed many insurance companies to target and reach bigger audiences than ever. Smartphones allow insurance companies to dispatch short messages to customers. Also, customers can access insurance packages through mobile devices, reducing the cost of insurance agents and brokers.

Eventually, technology may take over most traditional insurance operations. More insurance companies are channeling more resources to software-as-a-service (SaaS) applications. The goal is to sidestep complex and often expensive core information technology systems.

Today, insurers are using SaaS for HR management and commission processing. Technological applications also offer flexibility that minimizes manual work. For example, artificial intelligence (AI) will enhance insurance distribution, underwriting, and claims processes. In auto insurance, for instance, risk will shift to the AI software installed in many vehicles, including self-driving cars.

As AI becomes more prevalent, insurance carriers can re-engineer their core processes to be more predictive. Also, as cloud technology matures, many core systems will help insurance companies to be nimbler when launching new products and promote better customer service.

Drones and satellites, backed by real-time data, give insurance companies unprecedented insights into the risk around structures, facilitating greater accuracy during insurance assessments or claims. Claims processing, particularly after natural catastrophes, can be automated and expedited faster. In addition to reengineering core processes, insurance carriers and industry players can leverage AI to create better products based on data analytics.

The insurance sector is using telematics, apps that merge telecommunications and informatics to enable the wireless sharing of information. Already, many new cars have built-in telematics devices that track driving habits and pass them on to insurers. The data is monitored and processed using analytics software to determine suitable insurance policy premiums.

The impact of the Internet of Things (IoT) on the insurance sector cannot be ignored. Many consumers willingly share personal information that can save them money on their insurance policies. The IoT can automate the gathering of such data. Insurers can leverage data from many IoT devices, including wearables, smart home components, and automobile sensors, to mitigate risk and determine appropriate premiums.

For example, IoT can enable real-time monitoring of facilities or equipment and promote proactive maintenance and prevention. Similarly, 3D and 4D printing can potentially transform claims processing and enhance customer experience.

The role of social media in the insurance industry has evolved beyond eye-catching insurance advertisements and marketing strategies. Social media data mining is improving risk assessment, augmenting fraud detection, and creating innovative customer experiences.

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