Posted on December 31, 2008 by Editors
Understanding Financial Sales “Titles” Dr. David Edward Marcinko; MBA, CMP™ Registered Representative A retail or discount stock broker, regardless of compensation schedule, is also known as a registered representative [RR]. Other names include financial advisor, financial consultant, financial planner, Vice President, Wealth Manager, etc. Typically, the less than rigorous national test known as a Series [...]
Filed under: "Advisors Only", Financial Planning, Investing, Portfolio Management | Tagged: FINRA, RIA, RR | 1 Comment »
Posted on December 30, 2008 by Editors
CPE / CHE Staff Writers The Certified Physician Executive or Certified Healthcare Executive designations, from the Certifying Commission in Medical Management (CCMM: 4890 West Kennedy Blvd., # 200, Tampa, Florida 33609-2575 813-287-8944), may be earned by those physicians, or lay professionals, with the requisite requirements in education, and demonstrated special competence and professional experience in [...]
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Posted on December 29, 2008 by Editors
Uniform Prudent Investment Standards By Dr. David Edward Marcinko; MBA, CMP™ By Tom Muldowney; MSFS, CFP®, AIF®, CMP™ By Hope Rachel Hetico; RN, MHA, CPHQ™, CMP™ The physician-investor dichotomy, income now versus growth for later, is not unique. Trusts; that have the potential to span decades, usually place the interests of the income beneficiary at [...]
Filed under: Estate Planning, Insurance Matters, Investing, Retirement and Benefits, Risk Management | Tagged: Estate Planning, trusts | 2 Comments »
Posted on December 28, 2008 by Editors
Offering Definitional Clarity [Maybe] By Staff Writers There is no concise-precise definition of Health 2.0 as it is a dynamic construct. But, according to Holt, Furst, Crespo, Marcinko, Hetico, www.HealthDictionarySeries.com, and many others; Health 2.0 may be defined as an amalgam of many ideas. Most notably, our best definition: “Health 2.0 is internet cloud enabled participatory healthcare model [...]
Filed under: Career Development, Ethics, Information Technology, Quality Initiatives, Research & Development | 3 Comments »
Posted on December 27, 2008 by Editors
Joint Study Results Staff Reporters The American Hospital Association, Blue Cross / Blue Shield Association, Premera Blue Cross and America’s Health Insurance Plans recently released a study on public and private health insurance payment rates prepared by the actuarial firm Milliman, Inc. Findings-in-Brief Hospitals lost $30 billion on Medicare and Medicaid Hospitals earn $66 billion [...]
Filed under: Health Economics, Health Insurance, Research & Development, Surveys and Voting | Leave a Comment »
Posted on December 26, 2008 by Editors
Extending the New Health 2.0 Marketplace Staff Reporters America Well™ is a new healthcare marketplace where consumers and physicians come together online, to acquire and provide convenient and immediate healthcare services. Using the latest technologies in electronic communications and digital telephony, the company extends traditional healthcare services to the home setting www.AmericaWell.com Origins Based in [...]
Filed under: Information Technology, Practice Management, Research & Development | Tagged: american well, health 2.0 | 1 Comment »
Posted on December 25, 2008 by Editors
Happy Holiday Wishes The print-journal Healthcare Organizations: [Financial Management Strategies] www.HealthcareFinancials.com and this companion Medical Executive-Post, is dedicated to Army Captain Cecelia T. Perez, RN, ANC, who served with the 67th Combat Support Hospital (CSH) in Tikrit, Iraq, during Operation Iraqi Freedom II. Cecelia – a Bronze Star Medal Award holder now retired – wishes [...]
Filed under: Alerts Sign-Up, Breaking News, Military Medicine, Op-Editorials, Sponsors, Subscribe CD-ROM Journal | Tagged: Happy New Year, Holiday Greetings, Merry Christmas, Season's Greetings | Leave a Comment »
Posted on December 24, 2008 by Editors
A New “Green” Digital Edition for the Medical Executive-Post PRESS RELEASE: December 1, 2008 By Ann Miller; RN, MHA The Medical Executive-Post is going “green” by rolling out its new digital edition. Each day the Digital Edition provides health industry coverage of information critical to your work, in a fast, flexible and convenient format delivered directly [...]
Filed under: Alerts Sign-Up, Breaking News, Subscribe CD-ROM Journal | Tagged: digital edition, executive-post, going green | Leave a Comment »
Posted on December 23, 2008 by Editors
Paying-to-Age By Dr. David Edward Marcinko; MBA, CMP™ By Thomas A. Muldowney; MSFS, CLU, ChFC, CFP®, AIF®, CMP™ By Hope Rachel Hetico; RN, MHA, CPHQ™, CMP™ According to the US Bureau of the Census, there were almost 49 million people in the United States who were over age 60 in 2001. There are approximately 4,000,000 [...]
Filed under: Funding Basics, Health Economics, Health Insurance, Healthcare Finance, Insurance Matters, Risk Management | Tagged: long term care, long term care insurance, LTC, LTCI | Leave a Comment »
Posted on December 22, 2008 by Editors
About CPHQ By Dr. David Edward Marcinko; MBA, CMP™ Mission The mission of the National Association for Healthcare Quality (NAHQ) is to improve healthcare by advancing the theory and practice of quality management in healthcare organizations and by supporting the professional growth and development of Healthcare quality management professionals. The association has about 15,000 members [...]
Filed under: Quality Initiatives, Risk Management | Tagged: CPHQ | Leave a Comment »
Posted on December 21, 2008 by Editors
FDA Updates Some Standards Staff Reporters According to the Wall Street Journal, December 11, 2008, prescription drug makers updated their voluntary standards for direct-to-consumer advertising to make the ads more informative. But, the measures stop short of changes sought by government and industry critics. The FDA and “Actors” The companies said they will halt advertising [...]
Filed under: Drugs and Pharma, Quality Initiatives, Risk Management, Surveys and Voting | Tagged: D2C drugs | 3 Comments »
Posted on December 20, 2008 by Editors
Payroll Tax Strategies for Doctors By Edwin P. Morrow; III, JD, LLM Staff Writers Any business, like a medical practice with employees, has to concern itself with payroll taxes. This includes any C or S Corporation with a sole owner/employee. Payroll Taxes Payroll taxes include: 1) income tax withholding for any employee for federal, state [...]
Filed under: Accounting, Taxation | Tagged: payroll taxes | Leave a Comment »
Posted on December 19, 2008 by Editors
Let the Conversation Begin By Darrell Kellus Pruitt; DDS If someone says computerization in dentistry is inevitable, remind them that the metric system is inevitable as well. Sometimes inevitable takes a long time though – even when it makes sense. Interoperable dental records don’t. Contrary to what healthcare IT stakeholders promise to win financing from [...]
Filed under: Information Technology, Op-Editorials | Tagged: eDRs, EHRs, EMRs, HIT, IT, medical records | 8 Comments »
Posted on December 19, 2008 by Editors
Update for 2010 Staff Reporters According to Modern Healthcare, December 5, 2008, the Medicare Payment Advisory Commission [MedPAC] just drafted recommendations to increase payment rates for inpatient and outpatient services at the full rate of inflation in 2010, concurrent with the implementation of a quality incentives program. A Non-Specific Market Basket Although the draft didn’t [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Practice Management | Tagged: MedPAC | 1 Comment »
Posted on December 19, 2008 by Editors
Payroll Tax Strategies for Doctors By Edwin P. Morrow; III, JD, LLM Staff Writers Any business, like a medical practice with employees, has to concern itself with payroll taxes. This includes any C or S Corporation with a sole owner/employee. Payroll Taxes Payroll taxes include: 1) income tax withholding for any employee for federal, state and [...]
Filed under: Accounting, Taxation | Tagged: Accounting, employed children, retained earnings, tax strategies | Leave a Comment »
Posted on December 18, 2008 by Editors
Accounting Issues for Doctors By Edwin P. Morrow; III, JD, LLM Staff Writers Any business, like a medical practice with employees, has to concern itself with payroll taxes. This includes any C or S Corporation with a sole owner / employee. Payroll Taxes Payroll taxes include: 1) income tax withholding for any employee for federal, [...]
Filed under: Accounting, Taxation | Tagged: Accounting, payroll taxes | 1 Comment »
Posted on December 18, 2008 by Editors
Brutal New AEM Report By Staff Reporters Hospital emergency rooms are not safely designed or managed, and improvements in working conditions are needed, according to a new study in the Annals of Emergency Medicine [AEM]. AHRQ According to the Agency for Healthcare Research and Quality [AHRQ], December 9, 2008, the study surveyed 3,562 emergency medicine [...]
Filed under: Breaking News, Practice Management, Quality Initiatives, Research & Development, Risk Management | Tagged: emergency departments, emergency rooms | 2 Comments »
Posted on December 17, 2008 by Editors
An Open Source Health IT Release Staff Reporters According to John Moore of Government Health IT, the Centers for Disease Control and Prevention [CDC], here in Atlanta, just released an open-source version of its software for epidemiological analysis. History of Epi Info CDC’s Epi Info originated as a disk-operating system [DOS program] in the [...]
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Posted on December 17, 2008 by Editors
For Healthcare Consulting Practices Staff Writers Are you worried about what your insurance agents, accountants, RIA Reps, attorneys, benefits managers, RRs, 401[k] or 403[b] administrators, or stock-brokers are telling potential lay and physician clients? [sins of commission]. Or; worse-yet – not telling them? [sins of omission]. If so, why not use our Secret Professional Client-Shopper Services [...]
Filed under: "Advisors Only", Ethics, iMBA, Inc., Insurance Matters, Investing, Marketing & Advertising, Media Mentions and PR | Tagged: compliance, FINRA | Leave a Comment »
Posted on December 17, 2008 by Editors
Understanding the Domestic Model of Medical Care By Dr. David Edward Marcinko; MBA, CMP™ By Thomas A. Muldowney; MSFS, CLU, ChFC, CFP®, AIF®, CMP™ By Hope Rachel Hetico; RN, MHA, CPHQ™, CMP™ Doctors, nurses, economists, insurance consultants and financial advisors [FAs] increasingly make a distinction between “healthcare” and “custodial care.” Too often for patients however, health [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Insurance Matters, Risk Management | Tagged: long term care insurance, LTCI | Leave a Comment »
Posted on December 16, 2008 by Editors
UPIS and the Passage of Time By Dr. David Edward Marcinko; MBA, CMP™ By Tom Muldowney; MSFS, CFP®, AIF®, CMP™ By Hope Rachel Hetico; RN, MHA, CPHQ™, CMP™ Many trusts, written long ago for physicians, were established when interest rates were substantially higher, certainly higher than they are today. The passage of time and the [...]
Filed under: Estate Planning, Insurance Matters, Investing, Retirement and Benefits, Risk Management | Tagged: Estate Planning, trusts | Leave a Comment »
Posted on December 16, 2008 by Editors
Dual Role for Health and Human Services Secretary Staff Reporters According to the Associated Press, December 11, former Senate Majority Leader Tom Daschle will play two roles in the new Obama administration. He will serve as HHS Secretary and also oversee a new role as Director of White House Health Policy Office. Deputy Director Well [...]
Filed under: Healh Law & Policy, Managed Care | Tagged: health policy, Managed Care | 1 Comment »
Posted on December 15, 2008 by Editors
Some Unique Tax Basics for the Industry By Edwin P. Morrow; III, JD, LLM Staff Writers In addition to the usual business deductions, medical professionals and those in healthcare should be aware of certain unique investment related tax credits. Much like personal credits, most of these credits are non-refundable, but may be allowed as carry [...]
Filed under: Accounting, Taxation | Tagged: tax credits | Leave a Comment »
Posted on December 15, 2008 by Editors
A “Quality and Safety in Health Care” Report Staff Reporters According to the Star-Ledger, December 9, 2008, almost every hospital now collects data on patients injured or killed by medical mistakes, but only one in five share that information, even with key managers who could work toward making improvements, a national survey found. The QSHC [...]
Filed under: Breaking News, Healh Law & Policy, Insurance Matters, Professional Liability, Quality Initiatives, Surveys and Voting | Tagged: medical errors | 4 Comments »
Posted on December 14, 2008 by Editors
Innovative Healthcare Informatics Staff Reporters Allocade Inc, a developer of innovative healthcare informatics solutions, just announced that it has installed its first commercial On-Cue™ system at Peninsula Medical Center in Burlingame, Calif. The company began selling its commercial product in January 2008, and the installation at Peninsula Medical Center was the first of seven sites [...]
Filed under: Information Technology, Managed Care, Practice Management, Research & Development | Tagged: On-Cue | 2 Comments »
Posted on December 13, 2008 by Editors
Top Ten Appraisal Blunders to Avoid By Dr. David Edward Marcinko; MBA, CMP™ The science of the modern medical practice valuation can be traced to the Estate of Edgar A. Berg v. Commissioner (T. C. Memo 1991-279). In this case, the Court criticized CPAs as not being qualified to perform business valuations, failing to provide analysis [...]
Filed under: Practice Management, Practice Worth | 2 Comments »
Posted on December 12, 2008 by Editors
Some Tax Basics for Medical Professionals By Edwin P. Morrow; III, JD, LLM Staff Writers Astute financial advisors and healthcare focused accountants know that there are simple and overlooked strategies that can significantly add to the bottom line of any business or medical practice; as much as increasing practice revenues or reducing expenses. Physicians and [...]
Filed under: Accounting, Taxation | Tagged: travel expenses | Leave a Comment »
Posted on December 12, 2008 by Editors
“Red Flags” and the Discrepancy Rules By Hope Rachel Hetico; RN, MHA, CMP Medical professionals and healthcare organizations of all stripes have been looking for help to better understand, secure and collect their outstanding accounts receivable [ARs], and comply with the new “Red Flag” and “Address Discrepancy Compliance Regulations” from the Federal Trade Commission (FTC). The FACTS [...]
Filed under: Ethics, Healh Law & Policy, Healthcare Finance, Insurance Matters | Tagged: FACT Act, red flags | 2 Comments »
Posted on December 11, 2008 by Editors
Managerial Results for 2007 - Just Released Staff Writers In 2006, the average number of eligible employees in PPOs that used managed care pharmacy programs was 203,768, up 7.2% from 190,097 the previous year. For the sixth straight year, the share of PPOs that used PBMs for drug utilization review (DUR) services fell, to 62.7% [...]
Filed under: Drugs and Pharma, Surveys and Voting | Tagged: pharmacy benefits | 2 Comments »
Posted on December 11, 2008 by Editors
Empowering Health 2.0 Social Networks According to its website, www.PatientsLikeMe.com was founded in 2004 by three MIT engineers whose collective experience spanned from running the world’s only non-profit biotechnology laboratory – to large scale online commerce applications. Today, PatientsLikeMe is a privately funded company dedicated to making a difference in the lives of patients diagnosed with [...]
Filed under: Information Technology, Managed Care, Research & Development | Tagged: health 2.0, Patients like Me | 3 Comments »
Posted on December 11, 2008 by Editors
Some Tax Basics for Medical Professionals By Edwin P. Morrow; III, JD, LLM, and ME-P Staff Writers Astute financial advisors and healthcare focused accountants know that there are simple and overlooked strategies that can significantly add to the bottom line of any medical practice; just as much as increasing practice revenues or reducing expenses. Physicians [...]
Filed under: Accounting, Taxation | Tagged: tax deductions | 3 Comments »
Posted on December 10, 2008 by Editors
An Often Inaccurate Medical Effectiveness Meter Staff Reporters According to Gregory O. Ginn; PhD, CPA, MBA, MS, and Assistant Professor in the Department of Healthcare Policy and Administration from UNLV, substantial day-to-day variation in hospital occupancy may lead to increases in costs. Forecast Accuracy Accordingly, hospitals may be able to improve their financial efficiency by [...]
Filed under: Health Economics, Health Insurance, Managed Care, Quality Initiatives, Subscribe CD-ROM Journal | Tagged: LOS | Leave a Comment »
Posted on December 10, 2008 by Editors
Understanding Hospital Types By Calvin W. Wiese; MBA, CPA According to Healthcare Organizations [Financial Management Strategies], the parameters of rural hospitals are determined based on distance www.HealthcareFinancials.com A Distance Definition A rural hospital is defined as a hospital serving a geographic area ten or more miles from the nexus of a population center of 30,000 [...]
Filed under: Healh Law & Policy, Health Economics, Practice Management, Subscribe CD-ROM Journal | Tagged: rural hospitals | 1 Comment »
Posted on December 10, 2008 by Editors
Doctors are Not Bankers By Dr. David Edward Marcinko; MBA, CMP™ By Hope Rachel Hetico; RN, MHA, CMP™ Collecting accounts receivable (ARs) is one of the most important elements in maintaining the financial health of any medical practice. Your practice is not a bank and an effective billing system should be complemented by an efficient [...]
Filed under: Accounting, Practice Management, Risk Management | Tagged: accounts receivable, ARs | 1 Comment »
Posted on December 9, 2008 by Editors
ADVERTISEMENT Accomplished Financial Professionals Seeking Opportunities By Michael J. Sterling We connect highly accomplished accounting and finance professionals with market leading opportunities. These professionals are now currently available: 1. SOX Manager, this 12 year professional is a CPA, CIA, and CISA. Former Big 4 Risk Advisory Mgr. Technical strengths include SOX implementation, financial and operational audits, [...]
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Posted on December 9, 2008 by Editors
Direct to Consumer [D2C] Laboratory Services Staff Reporters MyMedLab began as a regional lab provider in Missouri in 1993. The company was created to allow patient-consumers to make informed care choices. In 2004, the company aimed to partner with industry leading providers and the power of the Internet to take the company and its electronic [...]
Filed under: Drugs and Pharma, Health Economics, Information Technology, Research & Development | Tagged: blood tests, laboratory services, medical labs | 1 Comment »
Posted on December 9, 2008 by Editors
Understanding Hospital Types By Calvin W. Wiese; MBA, CPA According to Healthcare Organizations [Financial Management Strategies], a specialty hospital is a type of healthcare organization with limited focus to provide treatment for only certain illnesses, such as cardiac care, orthopedic or plastic surgery, elder care, radiology/oncology services, neurological care, or pain management cases www.HealthcareFinancials.com Physician-Investor Owned [...]
Filed under: Healh Law & Policy, Health Economics, Practice Management, Subscribe CD-ROM Journal | Tagged: specialty hospitals | 2 Comments »
Posted on December 9, 2008 by Editors
Your Opinion Counts Staff Reporters The effects of the current financial meltdown are well-known to all citizenry. And, the next economic crisis is still wholly unforeseen. However, research conducted by the Institute of Medical Business Advisors Inc, suggests it may come from one, or more, of the following sectors: Pension Benefit Guarantee Corporation Home/Commercial Real-Estate Mortgages [...]
Filed under: Health Economics, Insurance Matters, Investing, Op-Editorials, Research & Development, Risk Management, Surveys and Voting | Tagged: economic collapse, financial meltdown, hedge funds, Medicaid, medicare, PBGC | 1 Comment »
Posted on December 8, 2008 by Editors
The Small Cap – Value Equity Hybrid Model? Staff Reporters Modern physician-investors are aware of the financial research that suggests a “small-firm effect,” which shows that stocks of smaller companies may outperform both large firms and the overall market. This seems true, in a stable economy, even after adjusting for the additional risk. The Research also [...]
Filed under: Investing, Portfolio Management | Tagged: small cap stocks, value stocks | 4 Comments »
Posted on December 8, 2008 by Editors
Understanding Hospital Types By Calvin W. Wiese; MBA, CPA According to Healthcare Organizations [Financial Management Strategies], an acute care inpatient hospital is a healthcare organization or “anchor hospital” in which a patient is treated for an acute (immediate and severe) episode of illness or the subsequent treatment of injuries related to an accident or trauma, [...]
Filed under: Healh Law & Policy, Health Economics, Practice Management, Subscribe CD-ROM Journal | Tagged: acute care hospitals | Leave a Comment »
Posted on December 8, 2008 by Editors
A Startling iMBA Inc., Report on Small Medical Practices By Dr. David Edward Marcinko; MBA, CMP™ By Hope Rachel Hetico; RN, MHA, CMP™ By Ann Miller; RN, MHA Webster defines a visionary as: “one who is able to see into the future”. Unlike some pundits, prescience is not a quality we claim to possess. [...]
Filed under: Health Economics, iMBA, Inc., Managed Care, Op-Editorials, Practice Management | Tagged: Managed Care | 2 Comments »
Posted on December 7, 2008 by Editors
Understanding Hospital Types By Calvin W. Wiese; MBA, CPA According to Healthcare Organizations [Financial Management Strategies], a long term care hospital provides assistance and patient care for the activities of daily living (ADLs), including reminders and standby help for those with physical, mental, or emotional problems. This includes physical disability or other medical problems for [...]
Filed under: Healh Law & Policy, Health Economics, Practice Management, Subscribe CD-ROM Journal | Tagged: long term care hospital | Leave a Comment »
Posted on December 7, 2008 by Editors
Obama and AHIP Race to the Finish Line According to the WashingtonPost.com, on December 6, President elect Barack Obama is inviting Americans to spend part of the holiday season talking about health care – in informal ad hoc meetings around the country called Health Care Community Discussions – to be held between December 15 and 31. [...]
Filed under: Healh Law & Policy, Health Insurance, Research & Development | 1 Comment »
Posted on December 6, 2008 by Editors
“Just Treat the Sick Patients” By Dr. David Edward Marcinko; MBA, CMP™ I have known psychologist Dr. Gene Schmuckler CTS, of our consulting firm, the Institute of Medical Business Advisors Inc www.MedicalBusinessAdvisors.com, for more than a decade. We met while in business school. He was my professor of organizational behavior. Since then, we have become [...]
Filed under: Career Development, Op-Editorials, Practice Management, Quality Initiatives | Tagged: Career Development | 2 Comments »
Posted on December 5, 2008 by Editors
AHA Reports Negative Financial-Operating News Staff Reporters Many hospitals are seeing the effects of the economic downturn. More than 30% of respondents to a recent American Hospital Association [AHA] survey reported a significant decline in patients seeking elective care and 40% reporting a drop in admissions overall. The majority of hospitals also noted an increase [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Monthly Reports, Research & Development | Tagged: AHA | Leave a Comment »
Posted on December 5, 2008 by Editors
Understanding Investment Styles By Dr. David Edward Marcinko; MBA, CMP™ A mutual or hedge fund manager’s investment style is defined by the means or strategies used to accomplish the fund’s stated objective. Most managers have a strategy they believe to be the key to maximizing risk-adjusted investment returns. For example, two equity managers may seek [...]
Filed under: Financial Planning, Investing, Portfolio Management | Tagged: growth investing, value investing | 3 Comments »
Posted on December 5, 2008 by Editors
CMS Issues Final Rule Staff Reporters According to the American Medical News on November 24, legislation enacted in July reversed a 10.6 percent cut that took effect at the beginning of that month, while starting in January 2009, a 1.1 percent across-the-board increase will replace an additional roughly 5 percent cut that would have gone [...]
Filed under: Career Development, Health Insurance, Healthcare Finance, Practice Management | Tagged: CMS, fee schedule | 2 Comments »
Posted on December 4, 2008 by Editors
A Financial Clearing-House for the Health Industry Staff Reporters SearchAmerica is a provider of healthcare solutions and personalized services to optimize the medical care revenue cycle. First incorporated in 1994, and privately held in Maple Grove MN, it has maintained an exclusive healthcare focus since 2001 A Payment Financial Clearinghouse According to its website, www.SearchAmerica.com [...]
Filed under: Healthcare Finance, Practice Management | Tagged: debt collectors, Search America | 1 Comment »
Posted on December 4, 2008 by Editors
Tough Funding in Difficult Times By Calvin Wiese; MBA, CPA Staff Writers In general, hospitals have three sources of capital available to them: [1] equity from earnings, [2] equity from donations, and [3] long-term debt. And, the general domestic economic cycle may either exacerbate or retard capital raising efforts for all healthcare organizations. Today, the hospital capital [...]
Filed under: Health Economics, Retirement and Benefits | Tagged: capital structure | Leave a Comment »
Posted on December 4, 2008 by Editors
A New Computerized Graphical Safety Interface for 2008 Staff Reporters According to the Bureau of Labor Statistics [BLS] in 2001, the nation’s hospitals reported 293,600 nonfatal occupational injuries and illnesses to their personnel. Hospital Injury Rates High Among US industries with 100,000 or more injuries and illnesses, hospitals have the second highest rate of nonfatal injury [...]
Filed under: Information Technology, Quality Initiatives, Research & Development, Risk Management | Tagged: eTool, OSHA | 2 Comments »
