Tag Archives: glossarybuilding

Glossary Post 1

Student loan debt can have a huge impact on a person’s finances. The debt can vary depending on the type of loan, scholarships awarded, and the type of school you attend. Private schools normally cost at least twice as much as public schools do, and attending an out-of-state school can also rack up more tuition fees than attending an in-state school. Paying off student loans can be difficult as a new graduate still on the search for jobs. Fortunately, the Institute for College Access and Success provided some tips on how to make the process easier, as well as some things we may not know about in general when it comes to student loans.

A grace period is the time after completion of school that you have to begin making payments to your student debt. Some grace periods vary depending on the loan but most are 6 to 9 months. After this, you have the option of Deferment. This is a way of postponing the payment or reducing the payment amount for a certain amount of time depending on eligibility. With a deferment you may not being responsible to pay the interest that acquires on the loan either. Some people may have more than one source of debt, in which case a consolidation loan may be the right fit. This is a loan in which you can combine the rest of your loans and make one single monthly payment, instead of several payments to different sources. The cons to consolidation loans is that it extends the time of repayment, increasing the amount of interest being paid.

  • Grace period- the time after completion of school that you have to begin making payments to your student debt.
  • Deferment- a way of postponing the payment or reducing the payment amount for a certain amount of time
  • Consolidation loan- a way of combining all loans into one monthly payment with a fixed interest.

Source

TICAS. The Top 10 Student Loan Tips for Recent Graduates. Retrieved from https://ticas.org/content/posd/top-10-student-loan-tips-recent-graduates

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Glossary Building #5

With the growing price of pharmaceuticals, doctors visiting and medical procedures, in combination with the rise of chronic disease, many Americans have turned towards alternative forms of medicine. In fact, 40% of Americans use some type of alternative medicine.

To understand what alternative medicine, we need to define Western Medicine. Western Medicine is the main style of treatment used in the United States. A disease is fought using drugs, surgery, and radiation. This form of medicine has heavy military influences and looks at disease as an invader and something that must be defeated.

Alternative Medicine is health treatment not typically used by Western Medicine. Many forms of medicine fall under this blanket term. For example, Traditional Chinese Medicine (TCM) is a style of traditional medicine used for over 2,500 years in China. This practice utilizes herbal medicine, acupuncture and tai chi to help treat/prevent health problems. TCM looks at disease differently than Western Medicine. Bad health in TCM is thought of as being out of balance and treatment focuses on restoring the natural processes of the body to their original balanced state. TCM is typically good for treating chronic conditions and addressing poor lifestyle choices.

Western Medicine: The main style of medicine used in the United States. It heavily focuses on biology and physiology. Treatments involve drugs, surgery, and radiation.

Alternative Medicine: A blanket term used for forms of medicine that do not fall under Western Medicine.

Traditional Chinese Medicine: A style of traditional medicine born in China. It focuses heavily on restoring natural processes and healthy lifestyles. Treatments include herbs, acupuncture and tai chi.

Glossary Post 5

Nowadays, we see promotions everywhere about going green, saving the earth, to recycle, and purchase organic foods. We have solar powered buildings and electric cars. Green is the movement to purchase and use sustainable, environmentally friendly, and reusable products and services. I thought this was important to know because I feel like a lot of people and kids think that going green is just recycling more. Another word that relates to green is sustainability. It is the capability to be maintained at a certain level that meets the needs of the present without affecting the needs of the future. Examples of sustainability is solar energy because they don’t use any gases, and reducing water usage. LOHAS is also a new term to me, which stands for Lifestyles of Health and Sustainability. LOHAS is a trend that pretty much mean you are going green, and living green. People who are LOHAS buy and use organic products, use hybrid or electric cars, have energy efficient appliances, and practice alternative medicine.

  • Green: sustainable, environmentally friendly, responsible products and services
  • Sustainability: meeting the needs of the present without affecting the needs of future generations
  • LOHAS: trend/movement of going green

Glossary Post 4

While reading through the FDA’s website about prescription drug advertising, I came across a lot of new things that I didn’t know about before on drug advertisements. The FDA stands for the Food and Drug Administration, who is responsible for ensuring the safety of drugs, medical products and devices, cosmetics, tobacco, and food. The FDA also helps public health by spending money for innovations to make medical products safer, more effective and affordable. The FDA label is something I see everywhere, but I wasn’t sure what they did. Another word that was new to me was direct-to-consumer advertising, which are ads published in magazines, newspapers, or commercials that is targeted towards the general audience. These advertisements are different than ones that are in pamphlets and brochures that are given to you at the doctor’s office. This was new to me, because I never gave into thought the types of prescription drug promotion and advertising. With every type of drug ad we see, whether in a TV commercial, or in a magazine, they always show the benefits and risks of taking the drug. There’s a law called fair balance that requires ads to also show the drugs most important risks when they show the benefits.

  • Food and Drug Administration (FDA): responsible for the safety of human and veterinary drugs, products, medical device, food, and cosmetics
  • Direct-to-consumer advertising: a new area of prescription drug promotion in magazines, commercials, or newspapers targeted towards the general audience
  • Fair balance: law that requires ads to show not only benefits of the drug, but also the most important risks

GB #5

For this last glossary building, I checked out the Green Washing slides & Pharmaceutical slides and I found some terms that I thought were important to understand. I took geology and geography classes in a community college where I learned about this “green” topic. In both of these classes, my professors discussed about sustainability a lot. They discussed about the environment and how humans are affecting the environment everyday without realizing the great effect their actions have on the environment. Most of my professors were very passionate and caring about the environment. I learned a lot and now I am more aware about my actions to the environment. I like to think that I am someone who cares about the environment. However, many of us can say that we care about our environment but probably end up hurting the environment without being aware.

One of the main term that I found on the slide was the term sustainability and I think it is important to understand and what it really means. Sustainability means taking care of our resources and not wasting resources too fast. It means that our needs are met but also without making it difficult to meet future generations needs according to the slide. We have to watch out and not be careless about the future generations needs. From the pharmaceutical slides, I found Me-toos which I did not know what it was. According to the slides and other articles I read, Me-toos are either cheaper or expensive drugs that are similar to pre-existing drugs. Consumers may pay more for little benefit according to the slides. Me-toos drugs can be positive and negative. I also did a bit of research about the DTC ads. DTC stands for Direct to Consumer ads and this have to do with prescription drugs advertisement on TV, internet, magazines, and newspapers. According to the PowerPoint slides and other articles I read, only New Zealand and U.S. allow this. The problem with this is that it does not really advertise the effects of taking those drugs. Of course because they want people to buy it. It is economically driven rather than to inform the people.

  • Sustainability: “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” from GreenWashing Slides
  • Me-toos: Drugs that are similar to existing drugs and either cheaper or more higher costs to consumers with not much benefit
  • Direct to Consumer ads: Drugs being advertised on internet, TV, newspapers, etc. It is economically driven rather than informing people about the side effects

Glossary Building 5

Throughout the last few months, this course has acted as an insider view of a business class. I have learned many tricks of the trade in businesses and how companies can get around certain things. A good example of this it the term “greenwashing,” were companies claim to be green and practice bettering the environment when in reality, they are not. It is truly all a marketing scheme to make money and scam consumers. After my research throughout the quarter, I came across a few confusing terms I wanted to add to the glossary. One of the many that came up was particularly confusing. This word was forecast, which in my head deals strictly with weather. The two other terms I deemed necessary for my glossary are, depreciation and equity. These seem to be terminologies I see in the business world as well as everyday life that I think people should become familiar with.

Once I gained more knowledge about the business world and felt myself become a bit more comfortable with what I was learning, the terminology became easier to understand. When I first saw “forecast” being used in an article, my brain quickly assumed the author was talking about the weather for the upcoming week. Come to find out, that is a popular business termed used very frequently by companies managing for the future. This term is a planning tool that helps administer coping methods for businesses dealing with the uncertainty of the future. Forecasting relies on data from the past and present trends within the company. The next word, depreciation means a decrease in value. It is often difficult to understand and I still do not have a full grasp on the meaning quite yet. Depreciation is an accounting method used for observing assets and their value. It can also be used to allocate the number of costs a company has to spend. And lastly, I would like to talk about equity. This is another term I see used a lot that I am not totally confident in the definition. In the public health world, I am somewhat familiar with what equity means however, I know, much like forecast, it takes on a whole new definition in the business world. Equity means ownership or holding stock within a company. To explain this simply, it is the amount of money you will receive after selling your company and paying back all debts that are owed. In other words, it is how much money invested belongs to you. I think a lot of the words used in the business world can get very confusing, and some intertwine with others. We have seen that directly with forecast and equity. If I had not done research of my own, I would have gotten a very different understanding of the articles using those terms. It is very important to expand your vocabulary knowledge to understand other areas of information.

 

Definitions

Forecast: Forecasting is the use of historic data to determine the direction of future trends.

Depreciation: Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life.

Equity: Ownership interest or claim of a holder of common stock (ordinary shares) and some types of preferred stock (preference shares) of a company.

Glossary Building Post – 5

These final terms come from the Pharma Slides.

The first term is NDA. NDA stands for New Drug Application. Even after reading what the acronym stood for, I still had no idea what this meant. According to the FDA page on NDA’s, this stands for

The NDA application is the vehicle through which drug sponsors formally propose that the FDA approve a new pharmaceutical for sale and marketing in the U.S.

The goals of the NDA are to provide the drug reviewer with information to assess the drug in safety, benefits vs. risks, if the labeling is appropriate and whether the manufacturing methods preserve the drug’s identity, strength, quality and purity (Center for Drug Evaluation and Research). I believe that this term is important for consumers because in a way, it makes sure that companies advise and report everything about the given drug from clinical trials to ingredients and safety to packaging. Without this information, the FDA cannot approve a new drug and this is what keeps consumers safe and large companies from selling just about anything.

The next term is product claim. This is one of three drug advertisement methods. Product claim advertisements are very straightforward. They name a drug and explain which conditions/diseases the drug can treat. Reminder ads only give a drug’s name but not the use and help-seeking ads discuss a disease/condition but doesn’t make any recommendations on which drugs to take to help with treatment.

I think it’s important that all consumers know all of these drug advertisement methods. While they all serve different purposes, essentially, they all get consumers thinking “Do I have that?” “Do I need that?” “I should ask my doctor what is typically used to treat ____.” “I wonder what that drug is used for?”

  • New Drug Application: The vehicle through which drug sponsors formally propose that the FDA approve a new pharmaceutical for sale and marketing in the U.S.
  • Product Claim Ad: Names a drug and explains the conditions it treats.
  • Reminder Ad: Only gives drug’s name but not use.
  • Help-Seeking Ad: Explains a disease/condition but doesn’t make any recommendations on which drugs to take.

 

Sources

Center for Drug Evaluation and Research. (n.d.). New Drug Application (NDA). Retrieved

November 21, 2017, from

https://www.fda.gov/Drugs/DevelopmentApprovalProcess/HowDrugsareDevelopedandApproved/ApprovalApplications/NewDrugApplicationNDA/default.htm

Center for Drug Evaluation and Research. (n.d.). Prescription Drug Advertising – Sample

Prescription Drug Advertisements. Retrieved November 21, 2017, from

https://www.fda.gov/Drugs/ResourcesForYou/Consumers/PrescriptionDrugAdvertising/ucm168421.htm

Pharma Slides

Glossary Building 4

After learning about Direct-to-consumer ads, I came across a few terms I decided would be useful to add to my vocabulary list. Marketing and advertising are huge industries in the United States. Our nation brings in enormous amounts of money from advertising alone. I think it is super important to be educated in certain areas to protect consumer health. A lot of times we can be drawn in by marketing schemes to believe we need specific products and items. I know for a fact, I have purchased items because an ad lead me to think I needed it. Some of the terminologies people should be familiar with are: market segmentation, mass media, and consumer advertising.

It was difficult for me to research and learn about DTC ads because I do not have a business centered mind. A lot of the words in the articles I read were challenging to understand and grasp. Which is one of the main reasons I decided to add them to my glossary. The first one, market segmentation, is a process of creating subdivisions within large similar populations. These subpopulations have similar needs, wants and demands. This practice is designed to identify the expectations of customers. Mass media, another important term to be familiar with, is any type of communication that reaches enormous amounts of people in the hopes of returning some profit. This can be seen or heard on television, in the paper, and even on the radio. Today there are numerous places media can reach mass populations. We have so many different social media platforms as well as millions of websites where advertisements can be seen. There is a very small population that never will see an advertisement. Lastly, the term consumer advertising is another imperative expression to understand. The definition of this explains that it is a marketing strategy directly aimed towards specific populations. Products and services are provided and advertised to the public that is most likely to use them. For example, diaper companies aim their ads towards new mothers who believe they need to purchase that diaper. With the knowledge of these definitions, consumers can better protect themselves from falling into the trap of believing advertisements.

 

Definitions

Market segmentation: The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics.

Mass media: any of the means of communication, as television or newspapers, that reach very large numbers of people.

Consumer advertising: The activity of making products or services known to the public and persuading people to buy them.

Glossary Post 3

The fiduciary rule is a new term to me, which means that financial advisers are to put their clients best interests first for their retirement savings and aren’t allowed any compensation or payments that would create a conflict of interest. I did not think that this was an issue in the industry because I assumed that financial advisers would always put the clients best interests first and there didn’t need to be a rule like this.

The student aid bill of rights is a bill that ensures that students are able to pay their monthly payments, can have affordable and quality education, rights to a affordable repayment plan, and the right to have quality customer service from their lenders. The student aid bill of rights is important to students because college can be pretty expensive nowadays. Those who want to go to college are often held back because of its costs, so they are forced to have loans that can take several years to pay off. This bill made it so that payments are 10% of the student borrowers income.

Debt collectors are the people who collects debt a deceased person owes to others. According to the Federal Trade Commission, family members are not required to pay their deceased relative’s debt. Debt collectors can only talk about the debts with the deceased one’s spouse, guardian, executor or administrator. You can protect yourself from a debt collector by sending files and a letter stating for the collector to not contact you again.

Glossary Building 5

The glossary post for this week is about illness and morality and how these are treated or enhanced. First, the article, “How Many Die from Medical Mistakes in U.S. Hospitals?” talks about how many patients have died from medical mistakes. This article was interesting in the fact that not only was the number much higher than anticipated, but also because “There’s never been an actual count of how many patients experience preventable harm. So, we’re left with approximations, which are imperfect in part because of inaccuracies in medical records and the reluctance of some providers to report mistakes,” (Allen, 2013). To show an example of possible medical negligence, the next article is called “Geography is Destiny in Deaths from Kidney Failure, Study Shows”. This article talks about how depending on what region someone with end-stage kidney disease lives in, they have a better or worse chance of survival. It then goes on to discuss which kind of dialysis is better for kidney patients and frighteningly states that “Dialysis with an AV fistula is superior to other methods and offers a dramatic survival advantage… the fact that fewer than one in five people start dialysis with a fistula is a real public health concern” (John Hopkins Medicine, 2015). It then goes on to explain that those living in New England and the Pacific Northwest have the greatest chance (1 in 5) of going on dialysis with a fistula, whereas Texas and Southern California have the lowest chance (1 in 9). This is perhaps because the New England and Pacific Northwest regions pay doctors more than the Southern United States.

Next, as many Baby Boomers are getting older and may soon be at the point of needing assisted living or to live in some kind of aging community, the next article called “Aging in Community: The Communitarian Alternative to Aging in Place, Alone” talks about aging communities. Aging in community is not a new concept, many people grew up in a neighborhood, inherited the house from their parents and died there. However, with new medical procedures used to expand the lifespan, people are living longer and not necessarily better. This leads to the invention of assisted living facilities, but these facilities can be costly, and many Baby Boomers have not saved enough money or lost money in the recession of 2007. So communities have started banding together to provide better options for those in need of assisted living. For instance, as nearly 1 in 5 women over age 55 live in poverty, one community has established “house-sharing” for these women. Allowing them to live in a house without paying the full rent. This leads to a more understanding, helpful, and less expensive environment that a long-term care facility.

  • Patient Safety: Very limited as evidenced by reports of hospital negligence and the number of medical mistakes contributing to patient deaths.
  • Equal Treatment of Patients: Unable to exist in this country due to geographical and socioeconomic differences.
  • Aging in Community: Communities banding together to help the older generations with general living requirements while costing significantly less that an assisted living facility.

Bibliography

Allen, M. (2013, September 20). How Many Die from Medical Mistakes in U.S. Hospitals? Retrieved November 14, 2017, from https://www.npr.org/sections/health-shots/2013/09/20/224507654/how-many-die-from-medical-mistakes-in-u-s-hospitals

Blanchard, J. (2014, April 2). Aging in Community: The Communitarian Alternative to Aging in Place, Alone. Retrieved November 14, 2017, from http://www.asaging.org/blog/aging-community-communitarian-alternative-aging-place-alone

Johns Hopkins Medicine. “Geography is destiny in deaths from kidney failure, study shows.” ScienceDaily. ScienceDaily, 24 June 2015. www.sciencedaily.com/releases/2015/06/150624115632.htm.