Red Flags Delayed Again – A Poll

Take the Modern Physician Survey Poll Staff Reporters The Federal Trade Commission recently delayed the enforcement of its red flags rule until at least December 31st 2010. So, do you think the “red flags” rule should apply to physician group practices that offer creditor payment plans to patients? Take the Poll Now Assessment          Conclusion Feel [...]

On the Credibility of Financial Experts

ADVERTISEMENT Keys to Protecting your Financial Expert’s Credibility in Court By Trugman Valuation Associates Dear Valued Friends and ME-P Colleagues We hope this e-mail finds you happy and healthy! We have attached our most recent newsletter for your perusal and hope that you will find something of interest in it. Link: Trugman Summer 2010 Assessment [...]

On HIT Continuity Planning

Setting Up Your HIT Security System By Richard J. Mata, MD, CIS, CMP™ [Hon] www.HealthcareFinancials.com In order for a healthcare organization to thrive, it must be able to continue to function no matter what the circumstances are.  When disaster strikes, the organization must mobilize all the talent and resources needed to continue their operations and [...]

Current Outlook for the Hospital Industry

Adaptation is Key in 2010 and Going Forward By Robert James Cimasi; MHA, ASA, AVA, CBA, CMP™ [www.HealthCapital.com] Source: www.HealthcareFinancials.com Hospitals today must continually adjust to deal with pressures to contain reimbursement and utilization levels.  The continuing cost containment pressures manifest themselves in many patients being shifted not only to lower acuity treatments but also to [...]

On Military Brain Injury Treatment

Leader Steps Down Abruptly By T. Christian Miller, ProPublica, and Daniel Zwerdling, NPR – June 23, 2010 6:33 pm EDT   WASHINGTON, D.C.–The leader of the Pentagon’s premiere program for treatment and research into brain injury and post traumatic stress disorders has unexpectedly stepped down from her post, according to senior medical and congressional officials. [...]

A New Model for Planing Physician Retirement Needs

Understanding Age Banding By Ann Miller RN, MHA [Executive Director]   From time to time, our readers send in e-books, files or e-chapters, pamphlets or other material they have created for client, educational or marketing use. Some of it may be worthwhile; some not so. Nevertheless, these publications are often a good place to start [...]

Where Are The Health Care Entrepreneurs?

The Failure of Organizational Innovation in Health Care Submitted by Ann Miller RN, MHA [Executive-Director] The following quote is from a white paper by David M. Cutler NBER Working Paper No. 16030 Issued in May 2010 Medical care is characterized by enormous inefficiency. Costs are higher and outcomes worse than almost all analyses of the [...]

Implementation of the Healthcare Deficit Reduction Act

Signed by President Bush in 2006 By Gregory O. Ginn; PhD, MBA, CPA, MEd By Hope Rachel Hetico; RN, MHA, CMP™ The Deficit Reduction Act (DRA), S. 1932, was signed by President Bush on February 8, 2006, and became Public Law No. 109-171.  Implementation of the act includes these provisions: www.CertifiedMedicalPlanner.com Subtitle A – Provisions Relating [...]

On Hospital Revenue Cycles Management

Operational Considerations for Improvement By Dr. David Edward Marcinko, FACFAS, MBA, CMP™ By Hope Rachel Hetico; RN, MHA, CPHQ, CMP™ One of us has been an acute general care hospital administrator while the other vice-president of a clinical and medical staff. Throughout our respective tenures, providing high quality care with improved health outcomes was our [...]

How eMR Vendors May Mislead You

Challenging Assertions By Shahid N. Shah MS As the physician executive of your medical practice, it’s your job to challenge any eMR vendors’ assertions about why you need an eMR, especially during the selection and production demonstration phase. Information Availability [Anytime – Anywhere] The most important reason for the digitization of medical records is to [...]

GE Violated Danish Drug Reporting Law

In the Omniscan Case By Jeff Gerth, ProPublica – June 17, 2010 5:59 pm EDT   General Electric’s health care unit failed to promptly and completely inform regulators about a patient who died after experiencing adverse effects from the company’s MRI drug Omniscan, Danish drug regulators concluded in a ruling last month. Danish Medicines Agency [...]

On this Blogging and Writing Lifestyle

About My Morning Routine By D. Kellus Pruitt; DDS For lack of anything else to write about at the moment, let me describe my morning routine on the weekends. I like to get up early – 5:30 am yesterday morning. More often than not, Bo, our sheltie, is waiting to greet me because he knows [...]

Is the Texas Dental Association too Authoritarian?

About Employee Mary Kay Linn By Darrell Kellus Pruitt; DDS Texas Dental Association Executive-Director Mary Kay Linn seems to think that TDA members owe her respect for some reason. I don’t see it. You get what you give TDA employee Mary Kay Linn. Link: TDA response to Pruitt I’ve attached the partially answered, authoritarian response [...]

Doctors Helping Seniors Avoid Financial Fraud?

The Elder Investment Fraud and Financial Exploitation Project By Staff Reporters A new program created in Houston and tested in Texas will teach medical professionals nationwide to identify and report signs of elder financial abuse. The EIFFE The Elder Investment Fraud and Financial Exploitation project includes a new survey and prevention campaign to help people [...]

Understanding Patient-Focused Healthcare

Emerging Trend Focuses on the Patient By Gregory O. Ginn; PhD, MBA, CPA, MEd By Hope Rachel Hetico; RN, MHA, CMP™ One swelling competitive medical administration and clinical trend is patient-focused and holistic healthcare, which centers on patient needs and attempts to humanize patient care. Definition www.HealthDictionarySeries.com Patient-focused healthcare therefore incorporates the following concepts, among [...]

What is M-Health for Physicians?

On “Smart Phones” and Mobiles Devices By Shahid N. Shah MS M-Health or “mobile health” is an industry term for collectively defining those tools and technologies that can be used on “smart phones” like iPhone, Blackberry, Android, or on traditional mobile phones from various vendors. Unlike traditional computers, almost every patient that walks into your [...]

Personalizing the Doctor or Client’s Living Will

Helping Financial Advisors Plan Future Medical Decisions By Ann Miller RN, MHA [Executive Director] From time to time, our readers send in e-books, files or e-chapters, pamphlets or other material they have created for client, educational or marketing use. Some of it may be worthwhile; some not so. Nevertheless, these publications are often a good place [...]

On Hospital CPOE Systems [Part Two]

Computerized Physician Order Entry Systems By Brent Metfessel; MD, MIS www.HealthcareFinancials.com A significant initial cost outlay for an organization-wide CPOE system is necessary, which for a large hospital may run into the tens of millions of dollars.  Understandably, the majority of the hospitals that have installed a CPOE system are large urban hospitals.  The up-front [...]

Coordination, Switching Costs and the Division of Labor in General Medicine

An Economic Explanation for the Emergence of Hospitalists in the United States Submitted by Hope Rachel Hetico RN, MHA [Managing Editor] From a white paper by David O. Meltzer, Jeanette W. Chung NBER Working Paper No. 16040 Issued in May 2010 General medical care in the United States has historically been provided by physicians who [...]

Sponsorship Opportunities

Advertise on the ME-P By Ann Miller RN, MHA [Executive Director] Become a sponsor on the #1 resource for medical management consultants and financial advisors in the healthcare space. About Us: http://medicalexecutivepost.com/2007/10/08/hello-world/ The “Deal” The Medical Executive-Post is offering sponsorship opportunities to market leaders in the fields of practice management, financial planning, health economics, business, [...]

On Hospital CPOE Systems [Part One]

Computerized Physician Order Entry Systems www.HealthcareFinancials.com By Brent Metfessel; MD, MIS Since the late 1990s, there has been increasing pressure for hospitals to develop processes to ensure quality of care. The Institute of Medicine (IOM) has estimated the number of annual deaths from medical error to be 44,000 to 98,000.  Manual entry of orders, use [...]

Why Hospital IT is Almost like a Retail Mall

Hospital Bar-Coding Systems By Brent A. Metfessel; MD, MIS www.HealthcareFinancials.com Given anticipated benefits in patient safety, the FDA required in April 2006, that bar codes be installed on all medications used in hospitals and dispensed based on a physician’s order.  The bar code must contain at least the National Drug Code (NDC) number, which specifically [...]

Ending Employer Sponsored Health Insurance

Or … at Least as We Currently Know It By Staff Reporters The latest Kaiser Health News column bids farewell to employer-sponsored health insurance. It will supposedly erode. And that’s a good thing, according to some experts. Of Criticisms The KHN news begins by saying that one of the latest criticisms of the new health overhaul [...]

Current Retirement Investment Options for Physicians

Understanding Build America Bonds By Somnath Basu PhD, MBA [www.clunet.edu/cif] [Director California Institute of Finance] There is heartening news for those of us in retirement or approaching it. There’s a new type of bond called the Build America Bond or BAB. The BAB, along with an older and often ignored retirement investment, is viewed as [...]

Building Meaningful Medical Practice Marketing Campaigns

What it Is – How it Works By Dr. David Edward Marcinko MBA, CMP™ By DeeVee Devarakonda MBA The success of a knowledge driven healthcare organization depends on not only how data can be converted to information – and information into marketing insight – but also by acting upon and converting those insights into building [...]

Will Fiscal Commission Consider a VAT to Reduce the Federal Deficit?

Moro on the National Commission on Fiscal Responsibility and Reform By Robert Giese bob.giese@chsfl.org The National Commission on Fiscal Responsibility and Reform [NCFRR] continues to develop a comprehensive proposal to address the federal deficit. It has invited comments from members of Congress, leaders of all types of American organizations and private individuals. We invite ME-P [...]

Reporting Tips for Covering High Risk Health Insurance Pools

A Call to all ME-P Citizen and Investigative Journalists By Hope Rachel Hetico RN, MHA [Managing Editor] According to our colleagues from the Association of Health Care Journalists [AHCJ], the federal government and states are scrambling now to create temporary high-risk pools for the medically uninsurable by July 1, 2010. As one of the first [...]

”Tremendous Upheaval” Over Estate Tax

An IRS Prediction by Senator Charles Grassley By Robert Giese bob.giese@chsfl.org Senate Charles Grassley (R-IA) is the ranking Republican on the Senate Finance Committee. In a conference call with several reporters on June 2nd, 2010, he discussed the uncertain future of the estate tax. The Proposal [Kyle-Lincoln Estate Tax Compromise] Sen. Grassley noted that Sen. [...]

Some Dental Consultants Say the Most Incredible Things

Are Dentists like … Rodney Dangerfield?  By Darrell Kellus Pruitt; DDS “Let’s face it — in our world dentists do not get the respect they deserve. They are not perceived to be ‘real’ doctors … Perhaps the lack of sex appeal in dentistry is part of why dental coverage for everyone is an afterthought in [...]

[Doctor's] Guide to Roth IRAs

Get Rich Slowly By Ann Miller RN, MHA [Executive Director] From time to time, our readers send in e-books, files or e-chapters, pamphlets or other material they have created for client, educational or marketing use. Some of it may be worthwhile; some not so. Nevertheless, these publications are often a good place to start the [...]

Our New Face – Same ME-P

We Got Visual “Fly” By Ann Miller RN, MHA [Executive Director] As you may have noticed, we have a brand new look; very visual and very photographic. ME-P got fly. But, underneath it all, we’re the same ME-P you’ve come to count on for daily essays, updates, investigative reportage, comments, gossips, breaking news, expert advice and [...]

The Madoff Circle

Who Knew What? By Jake Bernstein, ProPublica – June 2, 2010 2:40 pm EDT When Bernard Madoff pleaded guilty to running the biggest Ponzi scheme in history, he insisted he was the lone perpetrator, asserting that no one – not his family, not his colleagues, not his friends – knew of the fraud. Alternative Narrative [...]

Become an ME-P Personal Story Teller

Seeking Positive or Negative Lay Experiences By Staff Reporters Recently, we sent out a call for healthcare, and financial service, whistle-blowers from those working as insiders in these sectors. Now, we seek input – not from doctors, nurses, accountants or financials advisors – but the patients and customers they treat and serve. Tell us Your [...]

Why [Some] Doctors Won’t Work for Uncle Sam

Understanding the Medical Career Path [circa 2010]  By Eugene Schmuckler PhD, MBA www.MedicalBusinessAdvisors.com When you think about careers, how many adults are truly aware of their own interests, values, strengths and weaknesses during their teen years? As with much of human behavior, career choices actually go through a series of stages. Psychologists have for years identified [...]

Preparing Physicians for Financial Emergencies

Domestic Personal Savings Rate Increasing? By Somnath Basu PhD, MBA [www.clunet.edu/cif] [Director California Institute of Finance] There is a heartening change that we are observing today, an event that is truly national in character. At the bottom of the financial abyss we single-handedly turned around our personal savings for the first time in 12 years.  The [...]

2010 Physician Sentiment Index™

Taking the Pulse of the Physician Community By Ann Miller RN, MHA [Executive Director] From time to time, our readers send in e-books, files or e-chapters, pamphlets or other material they have created for client, educational or marketing use. Some of it may be worthwhile; some not so. Nevertheless, these publications are often a good [...]

The Economics of Stock Market Fear for Physicians

Panic Control and the Possibility of Severe Financial Degradation  By Somnath Basu PhD, MBA [www.clunet.edu/cif] [Director California Institute of Finance] An experiential learning of mammoth proportions occurred several weeks ago in the financial markets. The absolute 10 minute freefall of the prices of stocks and bonds, without any pre-notification froze the hearts of many physicians and lay others [...]

Events Planner: June 2010

ADVERTISEMENT Events-Planner: JUNE 2010 Staff Writers “Keeping track of important health economics and financial industry meetings, conferences and summits” Welcome to this issue of the Medical Executive-Post and our Events-Planner. It contains the latest information on conferences, news, and relevant resources in healthcare finance, economics, research and development, business management, pharmaceutical pricing, and physician/entity reimbursement!  [...]

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