5 Ways That Technology is Changing Healthcare

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Things that may become the future of healthcare.



The world of Healthcare is constantly changing and adapting to new technologies. In fact, since the early days of medicine, people were constantly researching and looking for new ways to treat illnesses and manage healthcare needs.



Some treatments worked, like drinking Willow Bark tea for pain relief, which eventually led to the manufacturing of aspirin. Others ended up not working as well or having unseen side effects, like Bayer Pharmaceuticals creating and marketing Heroin as a cough suppressant.



This constant state of adaptation is even more true in the digital age. As technology continues to advance and the world becomes more plugged in, there will be new changes and challenges that the industry will face. In fact, some of the changes are happening already.



Here are 5 challenges the healthcare industry will face in the coming years:

• Electronic health records - There is currently a huge push to get physicians to implement electronic health records. In fact, the government is currently giving physicians who use these digital records a $44,000 incentive. All medical offices in the country have to have this program in place by 2012 in order to take advantage of the incentive. Converting patient records over to an electronic system will take a lot of work, depending on the size of the practice, but it allows patients and their doctors to have better, easier access to their entire healthcare history.

• Making record sharing easier - Right now, if you want to visit a different doctor or move to a new area, it is your responsibility to take your medical records with you. New services are being implemented to make this process easier by letting your medical records be moved between healthcare providers. All that the patient will have to do is grant access to the records to a new provider. By simplifying the process, medical professionals will be able to have the patients' complete records more quickly in order to provide the best care.

• Cataloging the genomic signature of patients - It it expected that over the course of the next 10 to 20 years, patients will have their genes sequenced early on and will then have tier medical care structured around their unique genetic needs. Genetic testing is available already, but the high cost prohibits making it a routine test. Currently this type of testing is essential in treating life threatening diseases like cancer. Although this type of genetic study has many medical benefits, there are many privacy issues that will have to be considered. Many people would be against the idea of making this type of information mandatory, because even though medical records are private, all it would take is a new law or security breach in order to have access to a huge database of genetic information. Even still, it's certain that in the future, digital genomic sequencing will become commonplace.

• More possibilities for online health management - The internet makes it much easier for people to keep track of and be accountable for their own health. As medical care goes increasingly more digital, patients will be able to use their mobile devices or computers to keep track of chronic conditions, help them stick to a diet regime and will report those results to their medical care provider.

• Physicians will be paid for keeping patients healthy rather than treating their illnesses - Some health insurance programs are already instituting this change. Currently, doctors are paid for treating their sick patients so there isn't a financial incentive for keeping them healthy. In the future (and already with some insurance programs) physicians will be paid for their patients continued good health. The idea is that medical care professionals will be more inclined and motivated to help people stay healthy and will work with them to come up with individual plans to help them manage any chronic illnesses.

Some of these changes are already in the early stages, while some will require more technology before they become a reality. Still, it is an exciting time to be a healthcare professional. Those who are working at the beginning of such a huge overhaul have the chance to truly make a difference by helping save lives and improve the quality of medical care for decades to come.



What do you think about these high tech changes? Do you think that there will be many more challenges and changes? I would love to hear your thoughts in the comments.



By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for HealthcareJobsiteBlog. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

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Interviewing By Skype? How To Prepare

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How to prepare for a video conference interview.



I have to admit that the first time I heard about a job interview using a video conferencing site like Skype,I thought that it was a joke. Or, at the least, a one time fluke. I thought that it was so odd, in fact, that I decided to do a little bit of research to find out how prevalent this sort of thing is.



Much to my surprise, I discovered that many companies have begun using services like Skype, Gtalk, and even Google + to do webcam interviews. It seems that many hiring managers are looking at it as a way to conduct preliminary interviews before going to the expense and trouble of bringing someone into the office. Unlike a phone interview, a webcam interview allows the parties to actually see each other, which gives more information and a better idea of a candidate's suitability for the job.



Since this sort of interview is used primarily as a way to rule out applicants, it's really important to make sure that you make the best impression possible. Here are some tips to help make it a little bit easier:

• Do a trial run - Or several. If you don't do much video conferencing, this is the time to test it out and get comfortable. You don't want to be fumbling around with your equipment during the interview. Webcam with your friends and family using whatever program the employer prefers and find out how your equipment works in a real time setting. Ask the person you are video chatting with about your video quality, sound quality and lighting. Sometimes, if your internet is slow or you have limited bandwidth, the other party may only see halting video and static. Again, during the interview isn't the time to find this out.

• Get familiar with the options and settings - Depending on the program you use and your comfort level with it, it's a good idea to try out all of the different settings and options. For example, Skype allows you to either broadcast your webcam feed or share what is on your computer screen. You should play around with the video options to make sure that you have the best brightness and and video quality settings for your equipment. Depending on your setup, you may need to position your computer or webcam at a different angle to ensure that you are being recorded at the most flattering angle. You don't want to have the interviewer looking up your nose the whole time.

• Select a professional location - Typically when I am using my laptop, I am lounging on the couch or sitting in my bed. Neither of these are appropriate locations for a video conference interview. You'll want to set up a place, like maybe at a desk or table, where the lighting is bright but not too harsh. Make sure that the area around you is tidy and clean. I like to position myself so that my back is near a wall so that the other person doesn't have to see the rest of the room. The wall should look like something you would see in an office. For example, you can hang a few framed degrees or professional awards on the wall behind you. The goal is to make it really easy for the interviewer to imagine you in the office, working at the job. After you have your location set up, use your webcam to take some photos so that you can be sure that you will be viewed at your best.

• Practice looking at the screen - This one is sort of hard if you aren't used to using a webcam. One of the problems is that you naturally will want to look at your screen to see what the other person is doing and saying, but when you do, you aren't looking at the camera. It can make it seems as though you are looking down at something else rather than paying attention. Remember, we are social creatures and even though it's through a webcam, we want to feel like we're making eye contact. An easy way to minimize this problem is move the window of the other persons video feed as close to your webcam as possible.

• Wear professional clothes - This is still an interview and you should look the same as if you were going into the office for the interview. This probably means a shirt and tie for men or a nice business outfit for women. If you think it's acceptable for a traditional interview, it's probably good for this as well. One tip - Don't wear a jacket. It's understood that you are at home, so there is no reason to wear a jacket, doing so would only look like you are trying too hard. Also, it's good to stick with solid, dark or neutral colors because stripes, patterns or bright colors can look different on the interviewers screen. Some busy patterns and vibrant colors can get "digital noise" on the receiver's end, especially when you move and it is really distracting.

• Clean your desktop - If you plan to share a presentation with the interviewer (or just to be on the safe side) clean off your computer's desktop and make sure you have a copy of the resume and cover letter you sent somewhere that you can get to quickly. A folder on your desktop that only has those files is the best idea. Especially if you are sharing a view of your computer screen, you don't want to have to browse for it and inadvertently show the contents of your downloads or document files. You never can be sure what's in there and sometimes the file names might look questionable. It's better to avoid it altogether. Also, change your desktop wallpaper to something plain and professional. The interviewer might not be impressed with your Jessica Alba or Hello Kitty wallpaper.

• Consider that you might have to get up during the interview - You can't know ahead of time if you are going to need to get up at some point during the interview. This means that you want to make sure that your area looks professional, even if you aren't sitting behind the computer. Also, be sure to wear pants. I know this sounds silly, but there are plenty of people who can tell you horror stories about telecommuting or video conferencing while not wearing pants. They assume that because the camera is only recording them from mid-chest up, that the bottoms don't matter. It would be embarassing and unprofessional if you had to get up and the interviewer got a glimpse of your underwear or pajama bottoms. For a touch of added class, you could hang the jacket I told you not to wear on the back of your chair.

• Eliminate distractions - During the interview you don't want to have to excuse yourself to take phone calls or deal with your family members. Turn your phone off and if you have children, get someone to watch them or take them out of the house during the interview time. Make sure that the room is quiet and don't have a television or radio on. Even soft ambient noise can be distracting or cause your microphone to have trouble picking up your voice.
  
  

Hopefully these tips will help you out the next time you get asked to a Skype interview. Video conferencing feels almost exactly like talking to someone in person, but it can feel awkward if you aren't used to it. Practice with a friend and you should be well prepared.

Have you ever had an interview via video chat? Are there any other tips you can think of? I would love to hear your suggestions in the comment section.

By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for PhillyJobsBlog, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

Related articles

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RN’s to the Rescue: Traveling Healthcare Opportunities

Are you a person who is impelled by the untrodden paths in life? Do you like to change your surroundings every so often to keep your life fresh and exciting?

Getting a job as a traveling nurse may be exactly what you were looking for.

Although, you need a couple of years experience as a nurse under your belt before you can consider traveling, this may be a great opportunity to see the country, meet new people, and earn a higher paycheck.

Here are some things to keep in mind when considering this as a career:

POSITIVES

· Seeing the country: Excellent opportunity to see the country and experience all it has to offer. You have the luxury of having your job follow you.

· More compensation: Most travel nurse positions earn more than a permanent nurse. A few factors that increase your paycheck are tax breaks, contract completion bonuses, and loyalty and referral bonuses. Weekly pay is offered by most companies as well.

· No “Politics”: Typically an assignment as a traveler will last about 13 weeks. So not only is there not enough time to get sucked into the negative dynamics that can take place amongst a hospital staff, if you don’t like it you can just move on to the next one.

After seeing the positives, you might think how could there be anything better than that? For some these are great but there are those who don’t like certain aspects of traveling.

NEGATIVES

· Traveling light: With most assignments lasting the standard 13 weeks, you must be able to get up and go very quickly. The constant packing and unpacking may wear down on some.

· Hit the ground running: Hospitals expect the traveling nurse to get acquainted with the job right away and will not invest a lot of time adjusting the nurse to their changed surroundings. Therefore, the position itself may be extremely stressful for the first couple of days or weeks.

· Promotions: Traveling nurses tend to do more of the hands on nursing, making it difficult to advance in their positions.

If you think you might want to consider being a traveling nurse and have any specific questions about it there are plenty of forums, such as allnurses.com, that you could look at or submit an inquiry.

Have you considered this career option? What other things do you think are important to consider? Let me know in the comments.

By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for HealthcareJobsiteBlog. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

Underemployed? Meet the overemployed

So the three part-time jobs you are now holding down still don't give you enough income to stay current on your mortgage and your car payment at the same time. You look at your next door neighbor, leaving the house at 5 every weekday morning and coming home at 8 every night, and think, At least she has a steady job.

It may be only a matter of time before she asks you whether she could swap jobs with you.

An item posted to the Workforce Development blog "Work in Progress" caught my attention recently because it calls attention to one of the underreported downsides of the downturn. Not only has the Great Recession created a great reserve army of the unemployed, it has put growing strain on the backs of those still employed.

Were employers distributing work to be done across the staffs they need to do it, there would be even more jobs in Philadelphia and other cities than are already open. Instead, they are piling more of it on the reduced workforces that remain - and those workers are growing increasingly dissatisfied.

The Bureau of Labor Statistics reports that 25 percent of the U.S. labor force now works more than 41 hours a week. Workforce Management and the employee assistance firm Workplace Options surveyed 600 of those workers in July, and they found that their workloads are getting heavier and their work weeks longer. More than half - 55 percent - said their workloads had increased since the recession began, and 27 percent said they had doubled. And while some said the increased load had increased their overall well being, the majority said the burden worsened theirs.

According to the blog post, some of the problems the overemployed are experiencing echo those the unemployed struggle with, including substance abuse, marital discord, depression and even homelessness. And even those not experiencing such troubles are far from happy: a study by the Leadership IQ consulting firm states that 69 percent of American workers are now disengaged or underengaged from their work.

About the only folks smiling over these developments are the owners, whose profits have shot through the roof thanks to not hiring more people to do the work. This false economy could come back to bite them, though, as the current workforce burns out.

Maybe a jittery employer should dust off an idea that was bruited around during the 1990s boom: job sharing. A couple - one working, the other not - could agree to split the hours and duties of a position, instantly lifting a great weight off three people. The working spouse gets some of her life back, the nonworking spouse has his dignity repaired, and the employer can avoid a workforce expansion for now.

It's a less than ideal solution, granted. Those profits could be put to better use putting people back to work full time; judging from this survey, it's not like there wouldn't be anything for them to do once hired. But it might spare employers worse problems later on.

Are you overworked and looking to lighten your burden, or underemployed and looking to increase it? Do you know someone who has become overworked? Share your stories in the comments.

By Sandy Smith



Sandy Smith is a veteran freelance writer, editor and public relations professional who lives in Philadelphia. Besides blogging for PhillyJobs.com, he has written for numerous publications and websites, would be happy to do your resume, and is himself actively seeking career opportunities on Beyond.com. Check out his LinkedIn profile and read his other posts on PhillyJobsBlog.com.

4 Things Never to Talk About During Your Job Interview

by Alex A. Kecskes

You sent out a "million" resumes for that ideal healthcare position—and you finally got that first interview. You’re face to face with the HR manager and he or she asks you if you have any questions. If you want to kill your chances of being hired, respond with these sure-fire no-no nuggets:

What does the job pay and when can I expect a bonus?

Remember, it’s not what they can do for you; it’s what you can do for them. Stay clear of these questions and save them for the final and last interview. Besides, if you did your homework on the company, perhaps even communicated with someone already working there via social business networks like LinkedIn, you should have a fairly good idea about pay, vacation time and bonuses.

Use slang to appear “simpatico” with the interviewer

Stick to the King’s English. Avoid any overly casual idioms, “popspeak” or street phrases. Even if the interviewer slips and uses a slang term or two, don’t follow his or her lead and descend into casual speak. Keep it formal on your end. Above all, never use any profane or sexually suggestive words or phrases. Avoid using words like pissed off, hell, damn, babe, hos or fox, and don’t say anything about the interviewer’s appearance—like, “You’re lookin’ fine today.” Finally, don’t use slang terms for sexual orientations, nationalities, ethnicities, races or religions.

Bad mouth your former employer or company

Even if your previous boss was an egotistical tyrant, don’t say anything bad about him or her. You don’t have to praise your old boss either. Just stay neutral. If pressed on the subject, simply admit that you didn’t see eye to eye on certain aspects of the job and how to achieve certain objectives. Leave the impression that you just agreed to disagree on occasion. If you can, segue to another topic.

Go into your life story

The first interview is no place to mention your age, race, gender orientation, religious beliefs, medical conditions, or other personal information. Don’t go into your marital status, how many children you have, where your exes live, alimony, child support, etc. These questions shouldn’t asked in the first place. Questions about your age should be answered after you are hired.

For an added perspective, check out this video:

If you have any thoughts or suggestions about asking questions during a job interview, feel free to share them in the comments section.

Alex A. Kecskes has written hundreds of published articles on health/fitness, "green" issues, TV/film entertainment, restaurant reviews and many other topics. As a former Andy/Belding/One Show ad agency copywriter, he also writes web content, ads, brochures, sales letters, mailers and scripts for national B2B and B2C clients. Please see more of his blogs and view additional job postings on Beyond.com.

Are You An Office Slacker?

It's long been a running joke that people who work in offices spend most of their time just looking for ways to just appear productive, while doing as little work as possible. In fact, it's the standing punchline for many stand up comedians, comic strips and even movies.



In the movie "Office Space", the lead character admits that he spends most of his time just staring into space and in spite of that, he gets promoted. In one hysterically funny part, he tells the efficiency consultants during an interview that he works just hard enough to not get fired. It's a great movie and it always makes me laugh. The reason that it's so funny is that it seems like an exaggeration, but we all know that it's secretly, just a little true.



Believe it or not, the majority of Americans do have a problem with office slacking. It's surprising to me, because I'd like to think that most of us work harder than we'd like and our job performance is measured by results. Still, according to the experts, slacking off is still a big problem in many offices.



Salary.com did a survey about how people use their time. They asked respondents questions about how much time they waste during the day and what activities they waste it on. In fact, the survey showed that on average, the employees wasted a little over two hours each day, and that doesn't include their lunch break.



Here's how most people wasted their time:

1. Using the Internet - 44.7%
2. Socializing with co-workers - 23.4%
3. Conducting personal business - 6.8%
4. Just spacing out - 3.9%
5. Running errands away from work - 3.1%
6. Making personal phone calls - 2.3%
7. Applying for a new job - 1.3%
8. Planning personal events - 1.0%
9. Arriving late/ leaving early - 1.0%
10. Other time wasting - 12.5%

What I found to be the most interesting part of this survey was that the amount of slacking seemed to vary significantly by age. Here's how the total amount of wasted time looked by age group:

• 22-27 year old - 1.95 hours
• 28-37 year old - 1.61 hours
• 38-47 year old - 1.19 hours
• 48-57 year old - 0.68 hours
• 58-77 year old - 0.50 hours

It's telling that the younger workers were the ones most guilty of slacking, but I wonder why. At first glance, you might infer that younger workers don't have as strong of a work ethic as older workers. That might have something to do with it, but I don't think that it is the entire picture. When you think about it, people under 47 are more likely to have smart phones and spend more time using social networking. Also, many of the older workers are at different levels of their career and the odds are higher that they are working in jobs that they like, whereas the younger workers may be working in jobs that the they don't enjoy or that don't have as much responsibility. When the employees were asked why they slacked off at work, here is how their responses broke down:

• Unsatisfied at work - 46%
• Underpaid for the work they do - 34%
• Don't have deadlines or incentives - 24%
• Hours are too long - 19%
• Co-workers or friends cause distractions - 18%

Do you slack off at work? What things do you do that cut into your productivity? What causes you to get distracted? Let me know in the comments.







By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for PhillyJobsBlog, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

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• How To Leave Your Job Without Burning Bridges (manhattanjobsblog.com)

Explore The World Of Cytotechnology

If someone asked you if you enjoy autonomous, meticulous work with a high degree of responsibility, the answer might be heck no! Doesn’t sound like too much fun BUT I bet you never considered being a cytotechnologist. What kind of job is it you might ask?

Cytotechnology is basically the detection of minute changes or abnormalities in cells. Cytotechnologists make initial and secondary determinations on the status of a specimen before it is given to a pathologist for final interpretation. It may not sound exciting but you could be the first person to detect the early stages of cancer or other pathological diseases that could affect a patient’s health. Being a responsible decision maker and efficient problem solver may be the difference between life and death for these patients.

Those interested in this field would need to acquire a bachelor’s degree from an accredited institution. Thomas Jefferson University in Philadelphia, PA or Old Dominion University in Norfolk, VA are a few of the schools across the country that offer this program. Tuition generally runs from $7000 residential to anywhere around $32,000 for non-residential based on the information listed on www.cytopathology.org.

Employment opportunities for this field aren’t too shabby either. Right off the bat there are two factors that will attribute to job security; one is a normal population increase while another is the rapidly aging community. Also, with an influx of laboratory tests that occur with new advancements and developments in diagnostic testing, there is expected to be a 10-20% increase in the next eight years.

Since you know a little more about this field of study you might want to check out mshealthcareers.com or even eHow.com for some more detailed info. For those more patriotic readers keep in mind that the military has a program for this as well. More info at usmilitary.about.com

Have you considered a career in this field? I would love to hear your thoughts in the comments.

By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for HealthcareJobsiteBlog. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

Should you come out on your resume?

As social acceptance of lesbians, gay men, bisexuals and other sexual minorities grows, the issue of how open a job seeker should be about his or her sexual orientation has become more of a topic for debate.

There are those who argue that LGBT job hunters should be as open and frank as they can be about their orientation on their resumes. They reason that openly gay people would not want to work for an employer who cannot accept them for who they are, so best to get the matter out of the way up front.

Then there are those who point out that sexual orientation, like race and religion, has no bearing on a candidates ability to do a job. Given that, why bother mentioning it at all?

In general, the latter advice is more sound than the former. Not only is it irrelevant to ones' capacity to do the job, but in many places, laws do not forbid discrimination in employment based on sexual orientation. (Philadelphia is not one of those places, but Pennsylvania is.)

There is an exception, however. Some LGBT job seekers may have experience working for identifiably gay employers or professional affiliations that reflect their sexual orientation, and listing these on one's resume would normally be encouraged if they are relevant to the type of work being sought. And so it is here, but how to list them depends on ones own comfort level - and concerns over those legal protections as well.

If the organization has the terms gay or lesbian in its name, one might consider listing them by their initials and letting the interviewer bring up the subject, for instance. Those concerned about screening for homophobic workplaces, on the other hand, might want to be completely upfront about the subject by listing the names in full. Because many large employers are ahead of the general public or the legislature when it comes to diversity in the workplace, doing so today will exclude job seekers from far fewer openings than was the case even a few short years ago.

What do you think? Do you think you should be upfront on your resume or do you think it shouldn't matter? Let me know in the comments.

By Sandy Smith

Sandy Smith is a veteran freelance writer, editor and public relations professional who lives in Philadelphia. Besides blogging for PhillyJobs.com, he has written for numerous publications and websites, would be happy to do your resume, and is himself actively seeking career opportunities on Beyond.com. Check out his LinkedIn profile and read his other posts on PhillyJobsBlog.com.

Insurance Industry Needs Nurses

by Alex A. Kecskes

For nurses who don’t relish the idea of being on their feet all day, working nights and weekends, and dealing with the emotional stresses of dying patients, there is an alternative career--health insurance nursing.

As a health insurance nurse, you could be working at a desk—9 to 5 with nights and weekends off. You might even be able to work from home, which is especially appealing to single moms with toddlers.

There are a number of areas health insurance nurses are currently needed. These include disease management, utilization review, telephone triage, telephone advice line, education & training, and general patient management. You’ll typically need three to five years of clinical experience for these positions. In some cases, you’ll also need to be certified in case management.

You’ll help patients work with their individual care plans and assist them in managing their disease. You may also help the insurance company control costs by evaluating and coordinating care for patients with chronic diseases. This is often done over the telephone, but in some cases, you may actually have to visit the patient at home, in a nursing care facility, or even in the hospital. You’ll need a working knowledge of workers' compensation laws. And fluency in a common foreign language could be an asset.

Most health insurance nurses work full-time, but staffing agencies are also looking for part-time and temporary workers. The only downside is that many insurance nurses work all day in a cubicle.

For an added perspective, check out this video:

If you have any thoughts or suggestions about insurance industry nursing, feel free to share them in the comments section.

Alex A. Kecskes has written hundreds of published articles on health/fitness, "green" issues, TV/film entertainment, restaurant reviews and many other topics. As a former Andy/Belding/One Show ad agency copywriter, he also writes web content, ads, brochures, sales letters, mailers and scripts for national B2B and B2C clients. Please see more of his blogs and view additional job postings on Beyond.com.

What Does The U.S Credit Rating Downgrade Mean For You?

Image via Wikipedia

What the changing economic conditions mean for your finances.



As just about anyone who has turned on the news, opened a newspaper or turned on the internet knows, earlier this month, Standards & Poors downgraded the United States' credit rating from AAA to AA+. The credit rating took a dive because of the debate about raising the nations debt ceiling, the fact that we are going to take on more debt to pay our obligations and simply because there is no clear plan on how we plan to pay back any of our debt.



There is no denying it, the economy is in a bad place, and it might even get worst. For the 14 million people who are out of work and looking for jobs, this news certainly doesn't help bolster their flagging spirits.



So, what does this mean for you and me?

When the nation's credit rating goes down, it's very similar to when our personal credit scores drop. When you have a lot of debt, you have an elevated credit risk. Of course, how much the risk is elevated depends on the type of debt. Unsecured debt is the riskiest, while secured debt isn't as high of a risk. The difference between the two is that with secured debt, there is some type of collateral that is valuable to the debtor (that they will lose if they don't pay) and with unsecured debt, the creditor has nothing to repossess.The higher the risk, the higher the interest rate you'll be offered.



It still remains to be seen what the long term impact of this downgrade will be, but many experts think that interest rates will go up substaintially, as much as 5 percent. For you and I, the biggest concern is going to be how the rising interest rates will effect variable rate credit cards and home equity loans.



Because these two types of credit lines are still able to be changed by the lender, they are at the highest risk.With variable rate cards, the interest rate is tied to the prime rate, and when it goes up, so does the interest rate on your credit card or your home equity loan.



The biggest concern for homeowners who have variable rate home equity loans is that they could see their payment increase significantly. The fear is that this sort of rate hike could force struggling homeowners into mortgage default, which could start a new wave of foreclosures and the people who were lucky enough to hold on to their homes the first time around might end up in a bad situation this time.



So, what can you do to protect your finances?

• Take a look at your credit cards and find out if they have a fixed interest rate or a variable interest rate. You can find this out by calling the issuing bank and asking them. The majority of credit cards are variable interest rate. If you find that this is the case with your cards, stop using them. As soon as the prime interest rate changes, your interest rate is going to go up. The good news is that a higher interest rate won't apply to any balance you are already carrying. However, any new charges would be financed at the higher rate.

• If you have a home equity line of credit, you should probably call your lender to find out about how you can refinance. The best bet is to combine your mortgage and your line of credit into one loan. Be sure that you get a fixed rate loan in order to dodge the interest rate hike. Of course, with the housing market still in bad shape, many homeowners aren't going to be able to refinance because they owe more than their home is currently worth. But, it's worth a shot.

Are you bracing yourself for an interest rate hike? Let me know what you think in the comments.



By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for PhillyJobsBlog, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

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• How the U.S. Credit Downgrade Could Hurt You (mint.com)