Absenteeism: Absenteeism refers to when employees take time off work due to illness. It impacts the productivity of businesses.
ASSOCHAM: An acronym for The Associated Chambers of Commerce and Industry of India, it's a non-governmental trade organization that conducts various studies including ones on healthcare.
Annual Health Checkup: A yearly medical examination that helps identify potential health issues before they become serious. It's part of the health benefits package provided by companies like Loop.
Behavioral Science: This is the study of how people behave, particularly in social settings. In healthcare, it can help design strategies that encourage people to live healthier lifestyles.
Benefits Model: The framework or structure for the benefits that a company offers its employees, such as health assurance.
Cardiovascular Disease: A class of diseases that involve the heart or blood vessels, often caused by unhealthy lifestyle choices.
COPD (Chronic Obstructive Pulmonary Disease): A type of obstructive lung disease characterized by long-term breathing problems.
Claims Processing: This refers to how health insurance companies decide whether to pay for medical treatments or not. It's often a complicated process that involves lots of paperwork.
Crisis of credibility: When people find it hard to trust the medical advice they receive, usually from third-party sources. It can lead to confusion and ineffective treatment.
CTC (Cost To Company): Total cost that an employer spends on an employee, including salary, benefits, bonuses, etc. A strong employer brand can reduce the need to increase CTC to attract quality employees.
Diabetes: A chronic condition that affects how your body turns food into energy.
Diagnostic Process: This is the method doctors use to identify diseases and conditions. It usually involves physical exams, tests, and health history discussions.
Direct Primary Care Providers: Medical professionals who provide health care services directly to patients. Companies may incur costs partnering with them, which includes membership costs and employee insurance.
Employee Engagement: This is how invested employees feel in their work. Engaged employees are more likely to be productive and loyal to their company.
Employer Brand: This is how a company is viewed as a place to work. A strong employer brand can attract talented employees and make current employees feel proud of where they work.
ESG (Environmental, Social, and Governance): A set of standards that many corporate boards focus on. The 'S' stands for the social relationships that a company forms with the communities it works in, including labor relations.
Genitourinary System: A part of the human body that includes the organs of the reproductive and urinary systems. Diseases of this system can be reduced with good health practices promoted by health assurance programs.
Health Assurance: A new healthcare system whose primary objective is to create good health (complete physical, mental, and social well-being) and prevent disease while providing accessible, affordable, and effective care for sickness. Health Assurance combines data, technology, and medical expertise to deliver an empathetic people-centric healthcare experience that will make people healthier than before and reduce their need for sick care while providing for it.
Health Benefit: A perk offered by companies that could include health insurance or other health-focused initiatives.
Health Insurance: A policy that covers medical expenses. In the context of this article, it is seen as a financial mechanism rather than a health improvement tool.
Human Capital: A term that refers to the health, skills, knowledge, experience, and habits of a population. It's a key factor in economic growth.
Hypertension: Also known as high blood pressure, it's a long-term medical condition where the blood pressure in the arteries is persistently elevated.
Non-Communicable Diseases (NCDs): Chronic diseases that are not passed from person to person, often lifestyle-related.
Insurance Partners: Companies that provide insurance services. They might provide lower quotes for health insurance if they are aware that employees are healthier and ahead of health issues, thanks to health assurance programs.
MA Chats (Medical Advisor Chats): A Loop app feature that allows users to chat with medical advisors for health guidance. It's a part of the service provided by companies like Loop and contributes to cost and time savings.
Mental Health: This refers to a person's emotional, psychological, and social well-being. Good mental health is just as important as good physical health.
Optimize Costs: The process of reducing expenses while maintaining or improving a certain level of service. CFOs often look to optimize costs of employee benefits like health insurance.
Presenteeism: The act of attending work while ill, leading to reduced productivity.
Preventive Healthcare: Measures taken for disease prevention, as opposed to disease treatment.
Productivity: This is a measure of how much work gets done. Good health can increase productivity, while poor health can decrease it.
Premium: The amount paid, usually monthly, for an insurance policy. Savings on the premium paid can be a significant benefit of health assurance.
Quotes: In the context of insurance, it refers to an estimate of the premium cost for a potential insurance policy. Health assurance can help fetch better quotes.
RAND Corporation: An American nonprofit global policy think tank that conducts research and analysis on various topics, including healthcare.
Real-time health data: This is health information that is collected and updated as it happens. It can help healthcare providers respond quickly to changes in a patient's health.
ROI (Return on Investment): A measure of the efficiency of an investment. In this context, it refers to the potential savings made against the costs of providing health assurance benefits.
Sick Care: This is care that you receive when you're already sick or injured. It's focused on treatment and recovery.
Super Top Ups: These are additional insurance benefits that can be added to the basic employer insurance based on family needs. They often come with no limitations in terms of pre-existing diseases and no wait time for claims.
Trust Deficit: Refers to the lack of trust between patients and the healthcare system, often due to profit-driven practices.
Total Usage: Refers to how often a certain tool, like the Loop app, is used. More usage can result in more cost savings.
Upward Pressures: Forces or factors that can cause an increase in costs or other financial measures. For instance, weaker employer brands can place upward pressures on CTC.
Wellness Sessions: Activities or programs focused on promoting health and well-being among employees. They form part of the health benefits provided by companies like Loop.