89-475: The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare , life sciences , drug discovery , financial services , alternative investment and real estate . In the early 1980s, Ajay Piramal took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited (later renamed as Piramal Glass), a manufacturer of glass packaging for pharmaceutical and cosmetic products. In 1988,
178-427: A contract development and manufacturing organization ; Piramal Critical Care, a manufacturer of inhalational anesthetics and other hospital generics ; and Piramal Consumer Products Division, an over-the-counter consumer healthcare products business. Piramal Pharma Limited was demerged from Piramal Enterprises in 2022. Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals and Convergence Chemicals. It also has
267-642: A basic framework for defining the sector, the United Nations' International Standard Industrial Classification categorizes health care as generally consisting of hospital activities, medical and dental practice activities, and "other human health activities." The last class involves activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, residential health facilities, patient advocates or other allied health professions . In addition, according to industry and market classifications, such as
356-552: A challenge for the design of ICT (information and communication technology) for home care. Because statistics show that over 80 million Americans have taken time off of their primary employment to care for a loved one, many countries have begun offering programs such as the Consumer Directed Personal Assistant Program to allow family members to take care of their loved ones without giving up their entire income. With obesity in children rapidly becoming
445-608: A clear correlation between worse quality and higher spending. Expand the OECD charts below to see the breakdown: The management and administration of health care is vital to the delivery of health care services. In particular, the practice of health professionals and the operation of health care institutions is typically regulated by national or state/provincial authorities through appropriate regulatory bodies for purposes of quality assurance . Most countries have credentialing staff in regulatory boards or health departments who document
534-469: A corporate entity and was renamed Grameen II in 2002. Yunus was awarded the Nobel Peace Prize in 2006 for his work providing microcredit services to the poor. Microcredit organizations were initially created as alternatives to the "loan sharks" known to take advantage of clients. Indeed, many microlenders began as non-profit organizations and operated with government funds or private subsidies . By
623-591: A gain of 10 years since 1970. The US (78.7 years) ranges only on place 26 among the 34 OECD member countries, but has the highest costs by far. All OECD countries have achieved universal (or almost universal) health coverage, except the US and Mexico . (see also international comparisons .) In the United States , where around 18% of GDP is spent on health care, the Commonwealth Fund analysis of spend and quality shows
712-538: A joint venture with Allergan in the ophthalmology products segment. Piramal Realty is a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in, Cross Roads , at South Mumbai. The Piramal Foundation is a private philanthropic foundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya (a health information help line service called Arogya Vani in
801-402: A key part of microcredit, microcredit initially began with the principle of lending to individuals. Despite the use of solidarity circles in 1970s Jobra, Grameen Bank and other early microcredit institutions initially focused on individual lending. (A solidarity circle is a group of borrowers that provide mutual encouragement, information, and assistance in times of need, though loans remain
890-441: A licensed independent practitioner such as a physiotherapist , or a non-physician primary care provider such as a physician assistant or nurse practitioner . Depending on the locality and health system organization, the patient may see another health care professional first, such as a pharmacist or nurse . Depending on the nature of the health condition, patients may be referred for secondary or tertiary care. Primary care
979-419: A major concern, health services often set up programs in schools aimed at educating children about nutritional eating habits, making physical education a requirement and teaching young adolescents to have a positive self-image. Health care ratings are ratings or evaluations of health care used to evaluate the process of care and health care structures and/or outcomes of health care services. This information
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#17330847537791068-465: A modified form of peer-to-peer lending where a loan is not made in the form of a single, direct loan, but as the aggregation of a number of smaller loans—often at a negligible interest rate. Examples of platforms that connect lenders to micro-entrepreneurs via Internet are Kiva , Zidisha , and the Microloan Foundation . Another internet-based microlender, United Prosperity (now defunct), uses
1157-417: A new strategy to combine microcredits with health-care services, since the health of their clients is crucial to the success of microcredits. Though Grameen Bank initially tried to lend to both men and women at equal rates, women presently make up ninety-five percent of the bank's clients. Women continue to make up seventy-five percent of all microcredit recipients worldwide. Exclusive lending to women began in
1246-423: A partnership between Piramal Enterprises and CDPQ that was started in 2020, provides corporate financing services. Both IndiaRF and PCF are managed by Piramal Alternatives, an asset management company set up by Piramal Enterprises in 2021. Piramal Pharma Limited is active in business verticals including pharmaceuticals , healthcare and life sciences . Its business divisions include Piramal Pharma Solutions,
1335-400: A primary care practitioner must possess a wide breadth of knowledge in many areas. Continuity is a key characteristic of primary care, as patients usually prefer to consult the same practitioner for routine check-ups and preventive care , health education , and every time they require an initial consultation about a new health problem. The International Classification of Primary Care (ICPC)
1424-595: A result of accepting the loans. According to a recent survey of microfinance borrowers in Ghana published by the Center for Financial Inclusion, more than one-third of borrowers surveyed reported struggling to repay their loans. In recent years, microcredit providers have shifted their focus from the objective of increasing the volume of lending capital available, to address the challenge of providing microfinance loans more affordably. Analyst David Roodman contends that in mature markets,
1513-513: A second drug development deal with Eli Lilly and Company . The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd. In 2010, Piramal Healthcare sold its domestic formulations business to Abbott for $ 3.72 billion (about ₹ 18,000 crore). It was considered to the "most expensive pharma deal ever" by Forbes India . Piramal Healthcare then sold its diagnostics chain Piramal Diagnostic Services to SRL for ₹ 600 crore. In
1602-633: A short period of time for a brief but serious illness, injury, or other health condition. This care is often found in a hospital emergency department . Secondary care also includes skilled attendance during childbirth , intensive care , and medical imaging services. The term "secondary care" is sometimes used synonymously with "hospital care". However, many secondary care providers, such as psychiatrists , clinical psychologists , occupational therapists , most dental specialties or physiotherapists , do not necessarily work in hospitals. Some primary care services are delivered within hospitals. Depending on
1691-986: A significant part of a country's economy , development, and industrialization . Health care is an important determinant in promoting the general physical and mental health and well-being of people around the world. An example of this was the worldwide eradication of smallpox in 1980, declared by the WHO, as the first disease in human history to be eliminated by deliberate healthcare interventions. The delivery of modern health care depends on groups of trained professionals and paraprofessionals coming together as interdisciplinary teams . This includes professionals in medicine , psychology , physiotherapy , nursing , dentistry , midwifery and allied health , along with many others such as public health practitioners , community health workers and assistive personnel , who systematically provide personal and population-based preventive, curative and rehabilitative care services. While
1780-454: A variation on the usual microlending model; with United Prosperity the micro-lender provides a guarantee to a local bank which then lends back double that amount to the micro-entrepreneur. United Prosperity claims this provides both greater leverage and allows the micro-entrepreneur to develop a credit history with their local bank for future loans. In 2009, the US-based nonprofit Zidisha became
1869-494: Is a standardized tool for understanding and analyzing information on interventions in primary care based on the reason for the patient's visit. Common chronic illnesses usually treated in primary care may include, for example, hypertension , diabetes , asthma , COPD , depression and anxiety , back pain , arthritis or thyroid dysfunction . Primary care also includes many basic maternal and child health care services, such as family planning services and vaccinations . In
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#17330847537791958-476: Is also engaged in vehicle financing for partner companies like CARS24 , CarDekho and Spinny. Apart from retail finance, it is also involved in corporate lending and real estate finance. Since 2016, Piramal Enterprises and Bain Capital Credit have been operating a partnership called India Resurgence Fund (IndiaRF), an investment fund for financially distressed Indian companies. Piramal Capital Fund (PCF),
2047-417: Is considered necessary, regardless of whether the funding is from private insurance schemes or national health insurance . Allied health professionals , such as physical therapists , respiratory therapists , occupational therapists , speech therapists , and dietitians , also generally work in secondary care, accessed through either patient self-referral or through physician referral. Tertiary care
2136-569: Is distributed to groups rather than individuals. Many times the loan to one participant in group-lending depends upon the successful repayment from another member, thus transferring repayment responsibility off of microcredit institutions to loan recipients. Microcredit is a tool that can possibly be helpful to reduce the feminization of poverty in developing countries. Lending to women has become an important principle in microcredit, with banks and NGOs such as BancoSol, WWB , and Pro Mujer catering to women exclusively. Pro Mujer also implemented
2225-686: Is expected to lead to improved nutrition and improved education of the borrowers' children. Some argue that microcredit empowers women. In the US, UK and Canada, it is argued that microcredit helps recipients to graduate from welfare programs. Critics say that microcredit, if not carefully directed, may not increase incomes, and may drive poor households into a debt trap . They add that the money from loans may be used for durable consumer goods or consumption instead of being used for productive investments, that it may fail to empower women, and that it may not improve health or education. The available evidence indicates that in many cases microcredit has facilitated
2314-549: Is just one factor influencing the success of a small businesses, whose success is influenced to a much larger extent by how much an economy or a particular market grows. Unintended consequences of microfinance include informal intermediation: some entrepreneurial borrowers may become informal intermediaries between microfinance initiatives and poorer micro-entrepreneurs. Those who more easily qualify for microfinance may split loans into smaller credit to even poorer borrowers. Informal intermediation ranges from casual intermediaries at
2403-574: Is often used as the term for the health care services that play a role in the local community. It can be provided in different settings, such as Urgent care centers that provide same-day appointments or services on a walk-in basis. Primary care involves the widest scope of health care, including all ages of patients, patients of all socioeconomic and geographic origins, patients seeking to maintain optimal health , and patients with all types of acute and chronic physical, mental and social health issues, including multiple chronic diseases . Consequently,
2492-502: Is seen from the analysis carried out each year by Bloomberg. Clearly this kind of analysis is flawed in that life expectancy is only one measure of a health system's performance, but equally, the notion that more funding is better is not supported. In 2011, the health care industry consumed an average of 9.3 percent of the GDP or US$ 3,322 ( PPP-adjusted ) per capita across the 34 members of OECD countries. The US (17.7%, or US$ PPP 8,508),
2581-622: Is sometimes used as an extension of tertiary care in reference to advanced levels of medicine which are highly specialized and not widely accessed. Experimental medicine and some types of uncommon diagnostic or surgical procedures are considered quaternary care. These services are usually only offered in a limited number of regional or national health care centers. Many types of health care interventions are delivered outside of health facilities. They include many interventions of public health interest, such as food safety surveillance, distribution of condoms and needle-exchange programs for
2670-545: Is specialized consultative health care, usually for inpatients and on referral from a primary or secondary health professional, in a facility that has personnel and facilities for advanced medical investigation and treatment, such as a tertiary referral hospital . Examples of tertiary care services are cancer management, neurosurgery , cardiac surgery , plastic surgery , treatment for severe burns , advanced neonatology services, palliative, and other complex medical and surgical interventions. The term quaternary care
2759-445: Is that the traditional approach to microcredit has made only limited progress in resolving the problem it purports to address: that the world's poorest people pay the world's highest cost for small business growth capital. The high costs of traditional microcredit loans limit their effectiveness as a poverty-fighting tool. Borrowers who do not manage to earn a rate of return at least equal to the interest rate may actually end up poorer as
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2848-558: Is the extension of very small loans ( microloans ) to impoverished borrowers who typically lack collateral , steady employment, and a verifiable credit history . It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled nearly US$ 40 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent. The first economist who had invented
2937-690: Is the flagship company of Piramal Group, and active in financial services . Piramal Enterprises is involved in retail lending, housing finance and vehicle financing. It has two main subsidiaries viz., Piramal Capital & Housing Finance (PCHFL) and PHL Fininvest. It also holds minority stakes in Shriram Group companies. In 2021, Piramal acquired the bankrupt Dewan Housing Finance Corporation and merged it with PCHFL. PCHFL's retail finance division provides microlending and buy now, pay later services on behalf of partner fintech companies like ZestMoney, Moneyview , EarlySalary, Navi Group and KreditBee, and
3026-850: Is the improvement of health via the prevention , diagnosis , treatment , amelioration or cure of disease , illness , injury , and other physical and mental impairments in people. Health care is delivered by health professionals and allied health fields . Medicine , dentistry , pharmacy , midwifery , nursing , optometry , audiology , psychology , occupational therapy , physical therapy , athletic training , and other health professions all constitute health care. The term includes work done in providing primary care , secondary care , tertiary care , and public health . Access to healthcare may vary across countries, communities, and individuals, influenced by social and economic conditions and health policies . Providing health care services means "the timely use of personal health services to achieve
3115-414: Is translated into report cards that are generated by quality organizations, nonprofit, consumer groups and media. This evaluation of quality is based on measures of: Access to healthcare may vary across countries, communities, and individuals, influenced by social and economic conditions as well as health policies . Providing health care services means "the timely use of personal health services to achieve
3204-709: The Calmeadow Foundation tested an analogous peer-lending model in three locations in Canada during the 1990s. It concluded that a variety of factors—including difficulties in reaching the target market, the high risk profile of clients, their general distaste for the joint liability requirement, and high overhead costs—made solidarity lending unviable without subsidies. Microcredits have also been introduced in Israel , Russia , Ukraine and other nations where micro-loans help small business entrepreneurs overcome cultural barriers in
3293-647: The Global Industry Classification Standard and the Industry Classification Benchmark , health care includes many categories of medical equipment, instruments and services including biotechnology , diagnostic laboratories and substances, drug manufacturing and delivery. For example, pharmaceuticals and other medical devices are the leading high technology exports of Europe and the United States. The United States dominates
3382-519: The Grameen Bank . The Grameen Bank, which is generally considered the first modern microcredit institution, was founded in 1983 by Muhammad Yunus . Yunus began the project in a small town called Jobra, using his own money to deliver small loans at low-interest rates to the rural poor. Grameen Bank was followed by organizations such as BRAC in 1972 and ASA in 1978. Microcredit reached Latin America with
3471-573: The International Year of Microcredit . As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation." Some argue that microcredit has not had a positive impact on gender relationships, does not alleviate poverty, has led many borrowers into a debt trap and constitutes a "privatization of welfare". The first randomized evaluation of microcredit, conducted by Mr. Abhijit Banerjee and others, showed mixed results: there
3560-544: The Netherlands (11.9%, 5,099), France (11.6%, 4,118), Germany (11.3%, 4,495), Canada (11.2%, 5669), and Switzerland (11%, 5,634) were the top spenders, however life expectancy in total population at birth was highest in Switzerland (82.8 years), Japan and Italy (82.7), Spain and Iceland (82.4), France (82.2) and Australia (82.0), while OECD's average exceeds 80 years for the first time ever in 2011: 80.1 years,
3649-481: The biopharmaceutical field, accounting for three-quarters of the world's biotechnology revenues. The quantity and quality of many health care interventions are improved through the results of science, such as advanced through the medical model of health which focuses on the eradication of illness through diagnosis and effective treatment. Many important advances have been made through health research, biomedical research and pharmaceutical research , which form
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3738-432: The certification or licensing of health workers and their work history. Health information technology (HIT) is "the application of information processing involving both computer hardware and software that deals with the storage, retrieval, sharing, and use of health care information, data, and knowledge for communication and decision making." Health information technology components: Microlending Microcredit
3827-536: The social model of health and disability , which emphasizes the societal changes that can be made to make populations healthier. Results from health services research often form the basis of evidence-based policy in health care systems. Health services research is also aided by initiatives in the field of artificial intelligence for the development of systems of health assessment that are clinically useful, timely, sensitive to change, culturally sensitive , low-burden, low-cost, built into standard procedures, and involve
3916-609: The 1980s when Grameen Bank found that women have higher repayment rates, and tend to accept smaller loans than men. Grameen Bank in Bangladesh is the oldest and probably best-known microfinance institution in the world. Grameen Bank launched their US operations in New York in April 2008. Bank of America has announced plans to award more than $ 3.7 million in grants to nonprofits to use in backing microloan programs. The Accion U.S. Network ,
4005-519: The 1980s, however, the "financial systems approach", influenced by neoliberalism and propagated by the Harvard Institute for International Development , became the dominant ideology among microcredit organizations. The neoliberal model of microcredit can also be referred to as the institutionist model, which promotes applying market solutions as a viable way to address social problems. The commercialization of microcredit officially began in 1984 with
4094-531: The Comilla Model, in which credit is distributed through community-based initiatives. The project failed due to the over-involvement of the Pakistani government, and the hierarchies created within communities as certain members began to exert more control over loans than others. The origins of microcredit in its current practical incarnation can be linked to several organizations founded in Bangladesh , especially
4183-560: The Irish Loan Funds of the 18th and 19th centuries. John Wesley began a microcredit scheme in 1746. His journal on 17/1/1748 records: I made a public collection toward a lending stock for the poor. Our rule is, to lend only twenty shillings at once, which is repaid weekly within three months. I began this about a year and a half ago: thirty pounds sixteen shillings were then collected; and out of this, no less than two hundred and fifty-five persons have been relieved in eighteen months. In
4272-489: The US subsidiary of the better-known Accion International , has provided over $ 450 million in microloans since 1991, with an over 90% repayment rate. One research study of the Grameen model shows that poorer individuals are safer borrowers because they place more value on the relationship with the bank. Even so, efforts to replicate Grameen-style solidarity lending in developed countries have generally not succeeded. For example,
4361-427: The United States, microcredit has generally been defined as loans of less than $ 50,000 to people—mostly entrepreneurs—who cannot, for various reasons, borrow from a bank. Most nonprofit microlenders include services like financial literacy training and business plan consultations, which contribute to the expense of providing such loans but also, those groups say, to the success of their borrowers. One such organization in
4450-607: The United States, the Accion U.S. Network is a nonprofit microfinance organization headquartered in New York, New York . It is the largest and only nationwide nonprofit microfinance network in the US. The Accion U.S. Network is part of Accion International, a US-based nonprofit organization operating globally, with the mission of giving people the financial tools they need to create or grow healthy businesses. The domestic Accion programs started in Brooklyn , New York, and grew from there to become
4539-416: The United States, the 2013 National Health Interview Survey found that skin disorders (42.7%), osteoarthritis and joint disorders (33.6%), back problems (23.9%), disorders of lipid metabolism (22.4%), and upper respiratory tract disease (22.1%, excluding asthma) were the most common reasons for accessing a physician. In the United States, primary care physicians have begun to deliver primary care outside of
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#17330847537794628-428: The adverse effects discussed above can be diminished. Some argue that more experienced entrepreneurs who are getting loans should be qualified for bigger loans to ensure the success of the program. One of the principal challenges of microcredit is providing small loans at an affordable cost. The global average interest and fee rate is estimated at 37%, with rates reaching as high as 70% in some markets. The reason for
4717-662: The basis for evidence-based medicine and evidence-based practice in health care delivery. Health care research frequently engages directly with patients, and as such issues for whom to engage and how to engage with them become important to consider when seeking to actively include them in studies. While single best practice does not exist, the results of a systematic review on patient engagement suggest that research methods for patient selection need to account for both patient availability and willingness to engage. Health services research can lead to greater efficiency and equitable delivery of health care interventions, as advanced through
4806-501: The best possible health outcomes". Factors to consider in terms of healthcare access include financial limitations (such as insurance coverage), geographical and logistical barriers (such as additional transportation costs and the ability to take paid time off work to use such services), sociocultural expectations, and personal limitations (lack of ability to communicate with health care providers, poor health literacy , low income). Limitations to health care services affect negatively
4895-502: The best possible health outcomes". Factors to consider in terms of healthcare access include financial limitations (such as insurance coverage), geographical and logistical barriers (such as additional transportation costs and the ability to take paid time off work to use such services), sociocultural expectations, and personal limitations (lack of ability to communicate with health care providers, poor health literacy , low income). Limitations to health care services affects negatively
4984-470: The context of global population aging , with increasing numbers of older adults at greater risk of chronic non-communicable diseases , rapidly increasing demand for primary care services is expected in both developed and developing countries. The World Health Organization attributes the provision of essential primary care as an integral component of an inclusive primary health care strategy. Secondary care includes acute care : necessary treatment for
5073-456: The creation and the growth of businesses. It has often generated self-employment , but it has not necessarily increased incomes after interest payments. In some cases it has driven borrowers into debt traps. Some studies suggest that microcredit has not generally empowered women. Microcredit has achieved much less than what its proponents said it would achieve, but its negative impacts have not been as drastic as some critics have argued. Microcredit
5162-438: The definitions of the various types of health care vary depending on the different cultural , political, organizational, and disciplinary perspectives, there appears to be some consensus that primary care constitutes the first element of a continuing health care process and may also include the provision of secondary and tertiary levels of care. Health care can be defined as either public or private . Primary care refers to
5251-553: The establishment in Bolivia in 1986 of PRODEM, a bank that later transformed into the for-profit BancoSol. In Chile, BancoEstado Microempresas is the primary microcredit institution. Microcredit quickly became a popular tool for economic development, with hundreds of institutions emerging throughout the third world. Though the Grameen Bank was formed initially as a non-profit organization dependent upon government subsidies, it later became
5340-606: The financial outfit—not bank—has been serving the poor, mainly women, throughout four of the city's five boroughs ( Bronx , Brooklyn, Manhattan , and Queens ) as well as Omaha, Nebraska and Indianapolis, Indiana. In four years, Grameen America has facilitated loans to over 9,000 borrowers valued over $ 35 million. It has had, as Grameen CEO Stephen Vogel notes, "a 99 percent repayment rate". The principles of microcredit have also been applied in attempting to address several non-poverty-related issues. Among these, multiple Internet-based organizations have developed platforms that facilitate
5429-542: The first nationwide network microlender. US microcredit programs have helped many poor but ambitious borrowers to improve their lot. The Aspen Institute's study of 405 microentrepreneurs indicates that more than half of the loan recipients escaped poverty within five years. On average, their household assets grew by nearly $ 16,000 during that period; the group's reliance on public assistance dropped by more than 60%. Several corporate sponsors including Citi Foundation and Capital One launched Grameen America in New York. Since then
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#17330847537795518-406: The first peer-to-peer microlending platform to link lenders and borrowers directly across international borders without local intermediaries. From 2008 through 2014, Vittana allowed peer-to-peer lending for student loans in developing countries. The impact of microcredit is a subject of some controversy. Proponents state that it reduces poverty through higher employment and higher incomes. This
5607-499: The formation of Unit Desa (BRI-UD) within the Bank Rakyat Indonesia . Unit Desa offered 'kupedes' microloans based on market interest rates. Yunus has sharply criticized the shift in microcredit organizations from the Grameen Bank model as a non-profit bank to for-profit institutions: I never dreamed that one day microcredit would give rise to its own breed of loan sharks ... There are always people eager to take advantage of
5696-550: The good or benign end of the spectrum to loan sharks at the professional and sometimes criminal end of the spectrum. Many scholars and practitioners suggest an integrated package of services ("a credit-plus" approach) rather than just providing credits. When access to credit is combined with savings facilities, non-productive loan facilities, insurance, enterprise development (production-oriented and management training, marketing support) and welfare-related services (literacy and health services, gender and social awareness training),
5785-573: The group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in the pharmaceutical industry . Over the decade, the company acquired many business units to strengthen their presence. In November 1993, Swiss drug multinational Hoffmann-La Roche sold its Indian subsidiary, Roche Products (India) Ltd to Piramal Enterprises, including its assets like the Vitamin-A producing Fine Chemicals Plant in Balkum, Thane. Roche Products
5874-670: The group fund. In Asia borrowers generally pay interest rates that range from 30% to 70% without commission and fees. Nearly 1.4 million SHGs comprising approximately 20 million women now borrow from banks, which makes the Indian SHG-Bank Linkage model the largest microfinance program in the world. Similar programs are evolving in Africa and Southeast Asia with the assistance of organizations like IFAD , Opportunity International , Catholic Relief Services , Compassion International , CARE , APMAS, Oxfam , Tearfund and World Vision . In
5963-509: The high interest rates is not primarily cost of capital. Indeed, the local microfinance organizations that receive zero-interest loan capital from the online microlending platform Kiva charge average interest and fee rates of 35.21%. Rather, the principal reason for the high cost of microcredit loans is the high transaction cost of traditional microfinance operations relative to loan size. Microcredit practitioners have long argued that such high interest rates are simply unavoidable. The result
6052-500: The idea of micro loans was The Very Reverend Jonathan Swift in the 1720’s. Microcredit is part of microfinance , which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983 by their current Chief Adviser Muhammad Yunus . Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005
6141-458: The mainstream business society. The Israel Free Loan Association (IFLA) has lent more than $ 100 million in the past two decades to Israeli citizens of all backgrounds. In India , the National Bank for Agriculture and Rural Development (NABARD) finances more than 500 banks that on-lend funds to self-help groups (SHGs). SHGs comprise twenty or fewer members, of whom the majority are women from
6230-515: The managed care (insurance-billing) system through direct primary care which is a subset of the more familiar concierge medicine . Physicians in this model bill patients directly for services, either on a pre-paid monthly, quarterly, or annual basis, or bill for each service in the office. Examples of direct primary care practices include Foundation Health in Colorado and Qliance in Washington. In
6319-522: The mid-19th century, Individualist anarchist Lysander Spooner wrote about the benefits of numerous small loans for entrepreneurial activities to the poor as a way to alleviate poverty. At about the same time, but independently to Spooner, Friedrich Wilhelm Raiffeisen founded the first cooperative lending banks to support farmers in rural Germany . In the 1950s, Akhtar Hameed Khan began distributing group-oriented credit in East Pakistan . Khan used
6408-400: The organization and policies of the national health system, patients may be required to see a primary care provider for a referral before they can access secondary care. In countries that operate under a mixed market health care system, some physicians limit their practice to secondary care by requiring patients to see a primary care provider first. This restriction may be imposed under
6497-544: The patient. There are generally five primary methods of funding health care systems : In most countries, there is a mix of all five models, but this varies across countries and over time within countries. Aside from financing mechanisms, an important question should always be how much to spend on health care. For the purposes of comparison, this is often expressed as the percentage of GDP spent on health care. In OECD countries for every extra $ 1000 spent on health care, life expectancy falls by 0.4 years. A similar correlation
6586-428: The poorest castes and tribes. Members save small amounts of money, as little as a few rupees a month in a group fund. Members may borrow from the group fund for a variety of purposes ranging from household emergencies to school fees. As SHGs prove capable of managing their funds well, they may borrow from a local bank to invest in small business or farm activities. Banks typically lend up to four rupees for every rupee in
6675-595: The practices of loan sharks for their personal enrichment. Indeed, the academic debate foreshadowed a Wall-street style scandal involving the Mexican microcredit organization Compartamos . Even so, the numbers indicate that ethical microlending and investor profit can go hand-in-hand. In the 1990s a rural finance minister in Indonesia showed how Unit Desa could lower its rates by about 8% while still bringing attractive returns to investors. Though lending to groups has long been
6764-553: The prevention of transmissible diseases. They also include the services of professionals in residential and community settings in support of self-care , home care , long-term care , assisted living , treatment for substance use disorders among other types of health and social care services. Community rehabilitation services can assist with mobility and independence after the loss of limbs or loss of function. This can include prostheses , orthotics , or wheelchairs . Many countries are dealing with aging populations, so one of
6853-577: The priorities of the health care system is to help seniors live full, independent lives in the comfort of their own homes. There is an entire section of health care geared to providing seniors with help in day-to-day activities at home such as transportation to and from doctor's appointments along with many other activities that are essential for their health and well-being. Although they provide home care for older adults in cooperation, family members and care workers may harbor diverging attitudes and values towards their joint efforts. This state of affairs presents
6942-469: The responsibility of individuals. ) Indeed, Muhammad Yunus propagated the notion that every person has the potential to become an entrepreneur. Yunus saw poverty eradication as being in the hands of the individual. Because of this, he promoted private ownership, and consequently, neoliberalism. The use of group-lending was motivated by economics of scale , as the costs associated with monitoring loans and enforcing repayment are significantly lower when credit
7031-647: The same year, the group formed its own real estate entity, Piramal Realty. 2011 saw Fortune 500 ranking Piramal Healthcare in the top-50 largest corporations across India. UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011–12, Piramal bought 11% in Vodafone Essar. In 2014, it sold its 11% Stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group . In 2012, Piramal Healthcare
7120-636: The skin care segment. Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization of florbetaben F18 . European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F). In December 2020, Piramal Glass was sold to The Blackstone Group for US$ 1 billion. The Piramal Group comprises 3 key companies: Piramal Enterprises Ltd, Piramal Pharma Ltd and Piramal Realty. Piramal Enterprises and Piramal Pharma are listed at both Bombay Stock Exchange and National Stock Exchange . Piramal Enterprises Limited
7209-612: The state of Karnataka), Sarvajal (provides clean water in India through solar powered water ATMs), source for change (rural BPO for rural youth in Bagar, Rajasthan), Pratham (delivers education to under privileged children), Piramal foundation for education leadership (Piramal Fellowship and Principal Leadership Development program (PLDP) are the two programs undertaken) and Piramal Prize (recognizes emerging ventures and established organizations). Healthcare Health care , or healthcare ,
7298-410: The terms of the payment agreements in private or group health insurance plans. In other cases, medical specialists may see patients without a referral, and patients may decide whether self-referral is preferred. In other countries patient self-referral to a medical specialist for secondary care is rare as prior referral from another physician (either a primary care physician or another specialist)
7387-626: The use of medical services, the efficacy of treatments, and overall outcome (well-being, mortality rates). Health care extends beyond the delivery of services to patients, encompassing many related sectors, and is set within a bigger picture of financing and governance structures. A health system , also sometimes referred to as health care system or healthcare system , is the organization of people, institutions, and resources that deliver health care services to populations in need. The healthcare industry incorporates several sectors that are dedicated to providing health care services and products. As
7476-650: The use of medical services, the efficacy of treatments, and overall outcome (well-being, mortality rates). Health systems are the organizations established to meet the health needs of targeted populations. According to the World Health Organization (WHO), a well-functioning healthcare system requires a financing mechanism, a well-trained and adequately paid workforce , reliable information on which to base decisions and policies , and well-maintained health facilities to deliver quality medicines and technologies. An efficient healthcare system can contribute to
7565-738: The vulnerable. But credit programs that seek to profit from the suffering of the poor should not be described as "microcredit," and investors who own such programs should not be allowed to benefit from the trust and respect that microcredit banks have rightly earned. Many microcredit organizations now function as independent banks. This has led to their charging higher interest rates on loans and placing more emphasis on savings programs. Notably, Unit Desa has charged in excess of 20 percent on small business loans. The application of neoliberal economics to microcredit has generated much debate among scholars and development practitioners, with some claiming that microcredit bank directors, such as Muhammad Yunus, apply
7654-401: The work of health professionals who act as a first point of consultation for all patients within the health care system . The primary care model supports first-contact, accessible, continuous, comprehensive and coordinated person-focused care. Such a professional would usually be a primary care physician , such as a general practitioner or family physician . Another professional would be
7743-513: Was later renamed Piramal Healthcare Ltd. In 1999, Piramal Glass acquired Ceylon Glass Company Limited, Sri Lanka. In 2006, the company bought Pfizer ’s UK manufacturing facility in Morpeth . The company also formed the Piramal Foundation, a philanthropic arm of the group. In 2007, it underwent a deal with Merck Pharmaceuticals for development and discovery of new drugs. In 2008, it signed
7832-581: Was no effect on household expenditure, gender equity, education or health, but the number of new businesses increased by one third compared to a control group. Some of this increase in the number of businesses can be due to 'informal intermediation' documented by Frithjof Arp and collaborators: Philanthropic, low-interest-rate microcredit fosters unintended entrepreneurship where some borrowers split loans they receive and on-lend to less-entrepreneurial borrowers. Ideas relating to microcredit can be found at various times in modern history. Jonathan Swift inspired
7921-506: Was renamed to Piramal Enterprises Ltd . BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based company. Piramal Enterprises acquired the brand Caladryl in India. Caladryl is an anti-pruritic solution known for dermatosis application for minor skin irritations and itching. This acquisition enabled Piramal Enterprises to widen its consumer products portfolio in
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