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Doctor David E. Marcinko MBA CMP™ is the founding CEO of iMBA Inc, a leading national scope provider of real time medical practice management reports, books, dictionaries, journals, financial planning and advisory opinions, FMV appraisals and educational seminars. The firm serves physicians, nurses and medical societies; RIAs, BDs, wealth and hedge fund managers; accountants, insurance agents and financial services providers; emerging healthcare entities, hospitals, clinics, IPAs and their CXOs; the press, media and all related organizations. Previously, Dr. Marcinko was a financial analyst and co-founder of an Ambulatory Surgery Center sold to a public company. Today, as ME-P Publishing Editor, he is a popular futurist, speaker, virtual consultant, thought leader and best selling author integrating medical economics, finance and modern transformational healthcare 2.0 business strategies [Phone: 1-770.448.0769].
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The Cautious Physician Staff Reporters After today’s 777 point drop on the DJIA; 200 points on the NASDAQ; and 106 points on the S&P; a new bailout reconfiguration is being planned in Washington to avert another calamity going forward. Some say, the current strife was brought about – in large measure – by the financial [...]
Filed under: Financial Planning, Investing, Portfolio Management | Tagged: IMA, Mutual Funds | Leave a Comment »
Understanding New-Wave Patient Privacy Risks Staff Reporters Many people are blogging these days, including physicians. Some say the rapidly expanding medium provides a great opportunity for doctors to better educate patients and the public about the practice of medicine. Warning But, others warn that medical or just personal opinion blogging, also presents new risks of [...]
Filed under: Healh Law & Policy, Information Technology, Op-Editorials, Risk Management | Tagged: blogs | 4 Comments »
A Medication Safety Initiative Staff Writers Pfizer, Inc will be launching a website, now under beta construction, on medication safety to help consumers weigh drug risks and benefits. This is considered, by some, an unusual move in an industry often criticized as using marketing practices that oversell drug benefits and downplay risks. Patient Advocacy According [...]
Filed under: Drugs and Pharma, Quality Initiatives | Tagged: FDA, Pfizer | 1 Comment »
Financial Transparency to Increase Staff Reporters In a pharmaceutical industry first, Eli Lilly and Co. said it will begin disclosing how much money it paid to individual doctors for advice, speeches and other services. The drug company’s move comes as members of Congress push a disclosure bill in an effort to prevent such payments from [...]
Filed under: Breaking News, Drugs and Pharma | Tagged: Eli Lily | 1 Comment »
Business of Medical Practice [3rd edition] Ann Miller; RN, MHA Project Manager MarcinkoAdvisors@msn.com As readers of the Executive-Post may know, our textbook the Business of Medical Practice is a best seller http://www.springerpub.com/prod.aspx?prod_id=23759 Invitation Accordingly, we wish to personally invite all subscribers to contribute to our third edition now in progress. New and prior chapter are still available for [...]
Filed under: Book Reviews, Breaking News, Career Development, Jobs & Employment:, Managed Care, Media Mentions and PR, Nominations Sought, Practice Management, Recommended Books, Research & Development | Tagged: books, textbooks, writers | Leave a Comment »
Charging the Poor – More? Staff Reporters According to a new report from the Agency for Healthcare Research and Quality [AHRQ], on September 18, 2008, hospital charges increased in 2005 – the latest reporting period. Charges; Not Actual Costs Hospital charges – what patients are billed for their rooms, nursing care, diagnostic tests and other [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Surveys and Voting | Tagged: AHRQ | Leave a Comment »
A Fictional Interview By Darrell Pruitt; DDS Adam Smith, former 18th century Scottish economist, is with me in the cyber-world today. He wrote his theories on economics around the time of the birth of our nation. His book, “An Inquiry into the Nature and Causes of the Wealth of Nations,” predates the word “capitalism” as [...]
Filed under: Ethics, Health Economics, Interviews, Op-Editorials | Tagged: adam smith, economics, Health Economics, Investing | 2 Comments »
Revisiting Retirement Planning, Yet Again! Staff Reporters In this time of Wall Street chaos, GNP economic recession and marketplace turmoil, doctors must realize that not all investments and related activities are appropriate in IRAs for tax, legal, and investment reasons. This philosophy is an old reminder from Richard B. Toolson who wrote the classic article “Which [...]
Filed under: Investing, Retirement and Benefits | Tagged: IRA | 5 Comments »
Doctor-Executive Management Staff Reporters Some doctors tend to eschew checklists as a form of unthinking “cook-book” medicine. Some attorneys, financial advisors and medical management consultants, on the other hand, embrace them. Our position is a hybrid of both postures suggesting their use as a cogent starting-point template, for modifications and embellishments, as needed. Checklist Template [...]
Filed under: Career Development, Healh Law & Policy, Practice Management, Risk Management | Tagged: buy-sell agreements | 1 Comment »
About “InQuickER” By Dr. David E. Marcinko; MBA, CMP™ By Prof. Hope Rachel Hetico; RN, MHA, CMP™ Visits to emergency rooms climbed to a record high of 119.2 million in 2006, up from 115 million in 2005; with an average of 227 visits per minute, according to a new report from the Centers for Disease [...]
Filed under: Career Development, Healh Law & Policy, Health Economics, Information Technology, Managed Care, Practice Management | Tagged: ER | 10 Comments »
Direct to Physician [D2P] Advertising Did you know that our Research & Development suggests the average 47 year old physician earns $187,000 annually, and will amass a corpus of $5.5 million at retirement? Moreover, more than 50,000 mature physicians control more than $5 million, right now. If you want a piece of this lucrative market, [...]
Filed under: Jobs & Employment:, Marketing & Advertising, Sponsors | Tagged: D2P | Leave a Comment »
“Common Sense” By Darrell Pruitt DDS Perhaps my ideas about the Internet, and the American Dental Association [ADA], which I have mentioned before are still too ahead of their time to be easily accepted by most dentists. When dentists grow accustomed to thinking in a certain way towards the structure of leadership in our professional [...]
Filed under: Information Technology | Tagged: ADA | 2 Comments »
Enforcement of the HIPAA Privacy and Security Rules By Darrell K. Pruitt; DDS I recently came across the “CRS (Congressional Research Service) Report for Congress – Enforcement of the HIPAA Privacy and Security Rules,” updated on August 11, 2008. http://assets.opencrs.com/rpts/RL33989_20080811.pdf ADA News Online If those responsible for American Dental Association publications were paying attention, someone [...]
Filed under: Healh Law & Policy, Information Technology | 1 Comment »
About Delta Dental By Darrell K. Pruitt; DDS “A contract provision that holds dentists to Delta’s maximum allowed fee for non-covered services will affect all of Delta’s Premier and Preferred Provider Organization participating dentists throughout the country by January 2011″ (my emphasis). “Delta Caps Rates Nationally for Two Networks” I copied the line from an American [...]
Filed under: "Doctors Only", Healh Law & Policy, Managed Care, Practice Management, Research & Development | Tagged: delta dental | 12 Comments »
The PWC Report By Staff Writers A recent study by PriceWaterhouseCoopers [PWC] suggests that 2008-09 could be a big period for the healthcare sector with structural changes that could alter the industry. These include alterations to hospital Medicare reimbursement, further IRS pressure on non-profit hospitals, the growth of the retail clinic market and the continued emergence of [...]
Filed under: Managed Care, Op-Editorials, Practice Management, Research & Development, Surveys and Voting | 1 Comment »
Seek Healthcare Specificity Staff Reporters Use these 25 questions to educate yourself about accountants. And, use this 25-point checklist on how to pick a good healthcare focused CPA. It can be a powerful list for any medical professional and might help you bring in extra money, immediately. Other Areas In the areas of estate planning [...]
Filed under: Accounting, Financial Planning, Healh Law & Policy, Practice Management | Tagged: CFP, CPA, FA, JD | Leave a Comment »
Doctors versus Patients Dr. David Edward Marcinko; MBA, CMP™ Publisher-in-Chief Recently, it was reported to the public that millions of patients are paying medical bills they don’t actually owe after being confused about the practices of “balanced billing,” according to a recent business week report Business Week report. Formal Definition According to the Dictionary of [...]
Filed under: Health Insurance, Practice Management, Research & Development | Tagged: balance-billing | 7 Comments »
Business of Medical Practice [third edition] Ann Miller; RN, MHA Project Manager As readers of the Executive-Post may know, our textbook the Business of Medical Practice is a best seller. http://www.springerpub.com/prod.aspx?prod_id=23759 Accordingly, we wish to personally invite all subscribers to contribute to our third edition now in progress. New and prior chapters are still available for updating; [...]
Filed under: Book Reviews, Breaking News, Career Development, Health Economics, Marketing & Advertising, Media Mentions and PR, Practice Management, Recommended Books, Retirement and Benefits | Tagged: books, publications, writers | Leave a Comment »
We Want to Hear from You! Dr. David Edward Marcinko; MBA CMP™ Publisher-in-Chief Hope Rachel Hetico; RN, MHA, CMP™ Managing Editor Our Questions As new-wave publishers, we value the personal opinions of our complimentary Executive-Post readers. And, as traditional contributing editors, we also value opinions on our 2 volume, 1,200 pages, premium-print periodical, Healthcare Financials [Journal [...]
Filed under: Op-Editorials, Quality Initiatives, Research & Development | Leave a Comment »
Patient Driven Referral Sites [PDRSs] By Dr. Darrell K. Pruitt; DDS By Staff Writers It is clear to some practitioners that Internet-based consumerism is the future of medicine; as well as dentistry. Regardless of the increasing number of complaints about managed care’s malevolent business model, managed care medical and dental plans are already wilting under [...]
Filed under: Career Development, Information Technology, Practice Management | Tagged: Add new tag, doctor oogle, PDRS | 6 Comments »
Free Marketing Tips in the Executive-Post Staff Writers Receive free tips to help you increase your referrals, boost your practice revenue, and attract the patients, and physician clients, you want – plus submit your toughest marketing, health economic and finance questions to us and receive answers from the Executive-Posts’ experts. Subscribe Now: Want to get [...]
Filed under: Breaking News, Career Development, Jobs & Employment:, Marketing & Advertising | Tagged: executive-post | 1 Comment »
Medical Quality Confusion Reigns By Dr. David Edward Marcinko; MBA, CMP™ Doctors, medical staff, healthcare administrators and patients can often get confused regarding what issues need reporting through their compliance mechanisms [terminology and definitions]. www.HealthDictionarySeries.com For example, some staff members may think that every “complaint” should get reported through the system. Since the focus of [...]
Filed under: Healh Law & Policy, Practice Management, Quality Initiatives, Risk Management | 1 Comment »
It’s all about Flow [Part 1] By Dr. David Edward Marcinko; MBA, CMP™ [Publisher-in-Chief] Most patients don’t have a clue about how doctors get paid; it’s not by magic. Yet, a number of different steps occur during the processing of a medical claim as can be seen in the flow chart below. Each step within the process [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Practice Management | Tagged: super bill | 16 Comments »
Questions to Consider Dr. David Edward Marcinko; MBA, CMP™ [Publisher-in-Chief] Hope Rachel Hetico; RN, MHA, CMP™ [Managing-Editor] Although not always prone to professional introspection, we nevertheless had the recent occasion to ponder the future of the emerging initiative [healthcare business model or philosophy] known as healthcare 2.0. But, of course, before any discussion begins we must [...]
Filed under: Information Technology, Op-Editorials, Research & Development | Tagged: healthcare 2.0 | 1 Comment »
Reflecting Worth and Reality By Dr. David Edward Marcinko; MBA, CMP™ Despite changes in insurance models, a healthcare provider’s fees should reflect what the doctor feels his or her services or procedures are worth. The type of insurance that the patient has should not play an influencing factor in either the fee determination or services [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Practice Management, Practice Worth | Tagged: medical fees | 1 Comment »
2007 Payment Services Review Staff Reporters In 2007, benefit payments for the four parts of Medicare totaled $426 billion and allocated as follows: Part A: Hospital Insurance = 41% (includes home health which is partially funded under Part B) Hospital Inpatient = 30% Skilled Nursing Facilities = 5% Home Health = 4% Hospice = 2% Part [...]
Filed under: Drugs and Pharma, Health Insurance, Healthcare Finance, Monthly Reports, Research & Development | Tagged: medicare | 1 Comment »
Understanding CPT® Methods By Patricia Trites; PhD www.HealthcareFinancials.com The American Medical Association Physicians’ Current Procedural Terminology manual (commonly known as the CPT® manual) is the recognized coding manual used by healthcare providers to bill third party payers. CPT Codes No quantitative values are assigned the CPT® codes contained within the CPT® manual. Each third party [...]
Filed under: Healh Law & Policy, Health Economics, Health Insurance, Managed Care, Practice Management | Tagged: CPT codes | 1 Comment »
St. Luke’s Hospital By Sue LeGrand St. Luke’s Hospital, a prominent and award-winning 560-bed hospital in Cedar Rapids, Iowa is seeking a Chief Medical Officer due to the retirement of their current CMO. St. Luke’s Hospital is part of the Iowa Health System, one of the top 25 integrated delivery systems in the United States. [...]
Filed under: Breaking News, Career Development, Jobs & Employment: | Tagged: chief medical officer, CMO | Leave a Comment »
A Doctor’s Case against Mutual Funds By Dr. David Edward Marcinko; MBA CMP Publisher-in-Chief The case against Mutual Funds [MFs], and in favor of Individually Managed Accountants [IMAs]: No unrealized capital gains The ability of the physician-investor to dictate or organize a portfolio around current stocks The manager is not obliged to buy additional securities, no [...]
Filed under: Financial Planning, Investing, Op-Editorials, Portfolio Management, Uncategorized | Tagged: IMA, Mutual Funds | Leave a Comment »
Healthcare Reform and Presidential Candidates [Surprising Obama and McCain] By Darrell K. Pruitt; DDS Some readers of the Medical Executive-Post may wonder why a dentist’s opinions on healthcare reform should be given space on a website that is about the personal business, management, finance and economics of healthcare. Like Lab Animals Even though dentistry is [...]
Filed under: Healh Law & Policy, Information Technology, Op-Editorials, Quality Initiatives | Tagged: dentist | 5 Comments »
In Physician’s Money Digest By Dr. David Edward Marcinko; MBA, CMP™ By Hope Rachel Hetico; RN, MHA, CMP™ It is well known that some physicians have a reputation for being poor investors—buying as the market peaks, selling as the market bottoms, and easily trusting brokers, agents, or other commission-driven salespeople. A portfolio strategy or reasoned [...]
Filed under: Financial Planning, Investing, Marketing & Advertising, Media Mentions and PR, Practice Management | Tagged: IPS, PMD | Leave a Comment »
Institute for Safe Medication Practices Staff Reporters A new patient-oriented Web site is scheduled for release this fall to reduce mix-ups over drug names. The ISMP The Web site is a partnership of the nonprofit Institute for Safe Medication Practices, and online health service www.iGuard.org, which will send users email alerts about drug-name confusion. Dug [...]
Filed under: Drugs and Pharma, Information Technology, Professional Liability, Quality Initiatives, Research & Development, Risk Management, Uncategorized | Leave a Comment »
An IOM Review for Us All Staff Reporters Hospitals manufacture miracles by the millions. But, they can also be hazardous to your health. IOM Report According to the Institute of Medicine [IOM], a non-profit organization chartered by the US National Academy of Sciences, at least 1.5 million Americans fall prey to hospital error every year. [...]
Filed under: Drugs and Pharma, Professional Liability, Quality Initiatives, Risk Management | Tagged: IOM | 1 Comment »
Seeking Expert Contributors The Executive Post at www.HealthcareFinancials.com is currently calling for medical professionals, financial advisors, financial services professionals, accountants, health economists and related CXOs, medical administrators, managers and healthcare business organizations around the world to contribute content to www.HealthcareFinancials.wordpress.com Call for Editors The Executive-Post aims to inspire a new generation of doctors, advisors, nurses, [...]
Filed under: "Advisors Only", "Doctors Only", Career Development, Op-Editorials, Research & Development | Leave a Comment »
Suburban Hospital Healthcare System By Rachel Polhemus We are conducting a search to recruit an Executive Director, Premier Physician Group [PPG] for Suburban Hospital Healthcare System located in Bethesda, MD. Attached is a copy of the position specifications along with general information about the community and organization. Link: suburbanhospexecdir If you have an interest in [...]
Filed under: "Doctors Only", Career Development, Jobs & Employment:, Managed Care | Tagged: medical director | Leave a Comment »
A New DOJ Report Staff Reporters According to the Deportment of Justice [DOJ], $9.3 billion was recovered from health care providers accused of defrauding the states and federal government the past decade. The Study The department ramped up efforts in the 1990s to combat healthcare fraud by using private citizens with insider knowledge of wrongdoing. [...]
Filed under: Drugs and Pharma, Healh Law & Policy, Health Economics, Healthcare Finance, Practice Management | Tagged: health fraud, whistleblowers | 51 Comments »
About RealDealDocs™ Meet a New Executive-Post Sponsor We’re a group of lawyers and business professionals with a passion for life. Whether it’s heading up to the mountains or down to the beach, or building an innovative company in an important new space, we’re enthusiasts, as one of the recent additions to our team so aptly put [...]
Filed under: Sponsors | Leave a Comment »
Promoting a Direct-Medicine Business Model Staff Reporters The Society for Innovative Medical Practice Design (SIMPD) is an organization of physicians promoting a direct financial relationship with their patients in order to restore the integrity of the patient-physician relationship. It is their mission to ensure that physicians and patients retain the right to design and implement practices [...]
Filed under: Uncategorized | Leave a Comment »
NAFA Criticizes the SEC Staff Reporters Insurance agents without securities licenses won’t be able to sell index annuities under this new proposed rule. NAFA Opines The National Association of Fixed Annuities (NAFA) recently took a firm stand against the Security & Exchange Commission’s (SEC) proposed Rule 151A, which would regulate index annuities as securities rather [...]
Filed under: "Advisors Only", Financial Planning, Insurance Matters, Investing | Tagged: Add new tag, annuities, annuity, david marcinko, indexed annuity, insurance, insurance agents, NAFA, SC 151A, SEC, securities license | Leave a Comment »
Ten Things your Bank and/or Banker Won’t Tell You Staff Reporters From: Smart Money Do you assume that your bank serves your best interests? Do you believe that a big bank’s products are better than a smaller bank? Do you think that that your online bank account information is accurate or secure? If so, think again! [...]
Filed under: Financial Planning, Funding Basics, Investing, Risk Management | Tagged: bankers, banks, retail banking | 1 Comment »
Avoiding the “Managed Care Ripple Effect” By Dr. David Edward Marcinko; MBA, CMP™ The healthcare industrial complex represents a large and diverse industry, and the livelihood of other synergistic professionals who advise doctors depend on it as well. These include insurance agents who themselves wish to avoid the collateral ripple effects of the current healthcare [...]
Filed under: "Advisors Only", Insurance Matters, Quality Initiatives, Research & Development, Risk Management | Tagged: insurance agents | 2 Comments »
SEPTEMBER 2008 Staff Writers “Keeping track of important health economics and financial industry meetings, conferences and summits” A Look Ahead this Month September 1: Print Edition Healthcare Journalism: If you would like to “step-up-your-game” and be considered as a peer-reviewed print contributor to the third edition of: The Business of Medical Practice [Advanced Profit Maximizing [...]
Filed under: Events-Planner | Tagged: Events-Planner, special events | Leave a Comment »
Foot and Ankle Research Consortium, Inc. Date: September 1, 2008 PRESS RELEASE: FARC, Inc Atlanta, Georgia USA The Executive-Post at www.HealthcareFinancials.com is now proudly sponsored, in-part, by the Foot and Ankle Research Consortium, Inc. FARC is a leading provider of CD-ROMS, books and e-learning tools for orthopedic and podiatric medicine and surgery of the foot, [...]
Filed under: Media Mentions and PR, Sponsors, Uncategorized | Tagged: sponsor | Leave a Comment »
A Survey of Dentists [Pilot Study] By Darrell Pruitt; DDS A survey of 18 dentists was performed using the Internet as a platform. The dentists were presented with ten HIPAA compliancy requirements followed by a series of questions concerning their compliancy as well as the importance of the requirements in dental practices. Frustration with the [...]
Filed under: Career Development, Healh Law & Policy, Information Technology, Op-Editorials, Practice Management, Surveys and Voting | Tagged: DDS, dentists, DMD | 3 Comments »
