Precautions to protect assets after death – Part II

Continuing from Part – I.

Compliance-ChecklistPlease prepare a checklist on first of January or first of April each year of various due dates for compliance and prevent any omission/loss/ inconvenence. This will not only help keep track of your compliances as you advance in age, it will be of use for your
successors/relatives to take care of the responsibilities linked to assets in a systematic manner.
Note: One can include additional items to suit family/personal/business/official and other requirements.

S.No Description Due Date Date of compliance
1 Payment of LIC Premium
2 Advance Tax/TDS payments
3 Filing of IT return
4 Renewal of Mediclaim policy
5 Payment of vehicle insurance
6 Renewal of driving license
7 Renewal of Passport
8 Payment of SAS (Property Tax)
9 Renewal of membership
10 Annual Health Checkup
11 Renewal of licenses

Source: The above article is Published in the Journal of August 2014 by Kanara Chamber of commerce & Industry

Finding new requirements

spectacle_finderEarlier today, we addressed a ladies club at a defence colony in Chennai. The purpose of the meeting was two-fold, one to tell them about the products we have and the other to get suggestions of products they may want us to deal with.

A very knowledgeable and well-traveled bunch of energetic ladies, we hoped they will tell us about the various products they had seen in their extensive travels around the globe.

Surprisingly, the product that most of them wanted (but we dont have), was a spectacle finder, because all of them confessed to misplacing their specs’ and ending up spending a lot of time looking for them.

We hope we will be able to procure such a product soon.

Startups bring the doctor and hospital home

, TNN | Jun 9, 2014, 07.24AM IST. From the Times of India.

doctor-holding-stethoscopeMUMBAI: Healthcare will now be made available right at your door step. Thanks to start-ups who are using disruptive technologies to pioneer a home-based medical care model to address healthcare needs at the comfort of homes, shifting from the traditional hospital-centric delivery platform. Companies have now evolved to provide not only basic healthcare, but also speciality care to those suffering with chronic diseases, and to a largely untapped elderly population at their homes.

Fuelled by the growing burden of chronic diseases in the country, rising demand for elderly care and post-surgery rehab services, companies like Portea Medical, Healthcare at Home, Medwell and India Home Health Care are focussing on a home-based healthcare delivery platform, by providing home visits from doctors, nurses, physiotherapists, and offer post-operative, palliative and ICU care.

Home healthcare, an established model in the US is pegged around $80 billion, while in India it is at a nascent stage, estimated around $3 billion, and growing rapidly. Globally, geriatric care accounts for 70% of home healthcare visits.

The potential for the business is huge given the rise in NRIs, nuclear families, an ageing population and those who are working away from home. The demographic target for these start-ups is thus wide, anyone suffering from a chronic disease or even with a basic healthcare issue, in the age group of 45 to 80 years, and older.

“We estimate that roughly 80% of the care that is currently given in the hospital can be delivered in the home setting, with the proper use of technology. Our biggest segments are geriatric care (elder care) and post-operative care (after hospital procedure care). Besides, we are evaluating to bring in personalized medical devices/wearables to India for personalized monitoring of patients at home”, serial entrepreneur and co-founder of Portea Medical, K Ganesh told TOI.

The rates charged by these companies range from a single everyday service to long-term care packages, and prices vary between geographies and severity of the disease. The charges are anywhere from Rs 500 a visit for a small service like an injection administration or a wound dressing, Rs 700 – 1000 for a doctor visit, Rs 450 – 650 for a physiotherapist visit, to setting an ICU at home for Rs 7,500 a day which is almost 50% cost effective than the same service being charged in a corporate hospital, the firms claim. Certain firms like Portea and Medwell offer annual subscription packages of Rs 12,000-15,000 too.

Recently, others like CauseforSmile have come up to address the biggest worries of NRIs concerning parents — health, fitness, recreation, as well as social aspects.

Though Portea is focussing on mainly basic healthcare needs, others like Medwell Ventures and Burman family-promoted Health Care at Home will provide speciality home care to patients suffering from chronic ailments.

“Our focus is on providing home health for patients with chronic diseases, and thus supporting the continuum of care to those who generally have very high re-admission rates into hospitals. Some of these patients have ailments like heart failure, COPD, chronic arthritis, post operative surgical site wound management for chronic diabetic patients”, Vishal Bali chairman and co-founder Medwell Ventures said.

There is a huge potential for these kind services, experts say. “But the kind of model, market segment and quality of care on offer would be key to be successful in this space”, says Ajit Mahadevan leader life sciences at Ernst & Young.

Increasingly, mobile telephony, internet and telemedicine is paving the way for innovative treatment and healthcare models, but a majority of the population residing in towns and remote villages, does not have access to even basic medical care in the country.

What these start-ups seem to betting on is the abysmal doctor-patient ratio and low hospital bed density in the country. Besides, “by treating patients at their homes, hospitals can lower costs and become more efficient, and patients also benefit from better health outcomes because they are not exposed to hospital-borne infections”, says Zachary Jones, co-founder Portea Medical said.

For the full article go here.

Nice infographics – what’s common among centenarians?

Found this nice article on Entrepreneur.com.

Everyone has heard the saying “with age comes wisdom.” But what do the oldest people in the world have in common – and what can we learn from them?

There are only 300 to 450 estimated living centenarians – people aged 100 years or older – worldwide. People 110 or older are even rarer, with only 65 known supercentenarians alive right now, according to an infographic compiled by TopCollegesOnline.org.

The similarities among their habits and histories may surprise you. Exercising is a one commonality, but so is being born in fall and coming from a large family. The oldest person on record smoked for over a hundred years before she died in 1997, at age 122.

For more secrets of the world’s oldest people, check out the infographic below.

worlds-oldest-people-common

A dollop of peanut butter is all it takes to test for Alzheimer’s

early_alzheimers_detectionA University of Florida team is suggesting that there might be a real simple way to test for early stage Alzheimer’s – with a dollop of peanut butter and a ruler (scale).

Jennifer Stamps, a graduate student in the UF McKnight Brain Institute Center for Smell and Taste, and her colleagues reported the findings of a small pilot study in the Journal of the Neurological Sciences.

The scientists found that patients in the early stages of Alzheimer’s disease had a dramatic difference in detecting odor between the left and right nostril — the left nostril was impaired and did not detect the smell until it was an average of 10 centimeters closer to the nose than the right nostril had made the detection in patients with Alzheimer’s disease. This was not the case in patients with other kinds of dementia; instead, these patients had either no differences in odor detection between nostrils or the right nostril was worse at detecting odor than the left one.

You can read more about it here, and you could maybe give it a try at home at let us know in the comments how you fared – if you remember that is 🙂 !

 

Article on Home caregiving

An article on home caregiving in The Hindu – Metroplus talks about Old is Gold Store.  A short excerpt from the article is given below along with the link to the entire article.

About 30 years ago, the role of a caregiver in India was naturally accepted, as the older generation lived with the children. The elderly looked to the young members of the family not for physical assistance alone, but for psychological support as well. Consequently, they kept better health. As for caregiving, the onus was not on a single person, the family members took turns in caring for the young, the ill and the elderly.

You can read the entire article here.