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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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Ask a Consultant RAC Repayment Demand – Query I just received a demand for payment from the RAC program for $32.46. I treated a patient with a non-displaced fibula fracture with a BK CAM boot and crutches. I coded 99212-25 and 27786,73610 on 1-29-09. The audit claims the evaluation and management is part of [...]
Filed under: "Ask-an-Advisor", Practice Management | Tagged: CPT, CPT codes, MC, Medical Practice RAC Audit, medicare, RAC Audit | 2 Comments »
Open Up Dentists – and Physicians, Too! By D. Kellus Pruitt DDS If I tell you that your patients’ insurance identities can be sold for $50 each, how much will you trust your employees on Monday, Doc? The Experts Speak According to a panel of cyber-security experts at a recent Digital Health Conference, medical identity [...]
Filed under: Information Technology, Pruitt's Platform, Risk Management | Tagged: ADA, Cole Petrochko, Darrell Pruitt DDS, Digital Health Conference, Dr. Robert Faiella, eDRs, EMRs, HIPAA, John DeLuca, Medical Identity Theft on the Rise, protected health information | 2 Comments »
Ask an Advisor – Query I have read about pro-bono care on the ME-P. But, as doctors, are we required to bill our patients their co-pay amount by law, or can it be written off at our discretion? In other words, if we decide not to bill them, will we be penalized by Medicare. Conclusion And [...]
Filed under: "Ask-an-Advisor", Health Insurance, Practice Management | Tagged: Do Doctors have an Obligation to Bill for Co-Payments?, Health Insurance, Health Insurance Co-Payments | 1 Comment »
On IRS published IR-2011-18 By Children’s Home Society of Florida Foundation On December 14, 2011, the IRS published IR-2011-18 and suggested a number of tax tips for end-of-year charitable giving. These included several specific recommendations. 1. IRA Rollover – For individuals age 70½ and older who are IRA owners, they may have their IRA custodian [...]
Filed under: Ethics, Retirement and Benefits, Taxation | Tagged: By Children's Home Society of Florida Foundation, charitable giving, charity, End of Year Giving Tips, Gifts of Money, IRA Rollover, IRS, IRS Form 1098-C, Itemized Deductions, Schedule A of Form 1040, Tax giving charity, W-2 | Leave a Comment »
Physician Necessity or Luxury? By Dr. David Edward Marcinko MBA [Editor-in-Chief] The ME-P has published many insightful essays and comments on health information technology and related issues. It’s a hot topic, no doubt. Robust and controversial, too! Regular readers of the ME-P also know that I’m a Jaguar fanatic; not the animal - the British automobile. [...]
Filed under: Information Technology, Insurance Matters | Tagged: david marcinko, jaguar XJ8-L, Ten Best Apps for Car Phones | 2 Comments »
Not Just a PC Problem Anymore! We all know that PCs are more vulnerable to viruses, worms, trojans, malware, adware and other electronic miscreants, than are Macs. And, that some medical professionals absolutely love their iPads and Macs. But doctor, are you leaving your Mac vulnerable to unwanted intrusions? Source: MacKeeper Conclusion And [...]
Filed under: Information Technology | Tagged: adware, apple iphone, health information technology, HIT, iPads, Is You Mac Vulnerable to Viruses?, MACs, malware, trojans, viruses, worms | 1 Comment »
A New Twist on an old New Year’s Resolution By Rick Kahler CFP® MS ChFC CCIM Doctor – Here’s a new twist on an old New Year’s Resolution: If you want to give yourself the security of financial independence, try budgeting the way many wealth accumulators do. The secret? They don’t budget. Your first [...]
Filed under: Financial Planning | Tagged: Achieving Financial Independence Without Budgeting, budgeting, rick kahler, Year's Resolution | Leave a Comment »
On Women Rising in the Professional Workforce Over the course of thousands of years, men have continued success in their dominant roles. However, it’s no surprise that 21st century data seems to be leaning toward the women; especially female physicians and female executives in the financial services industry. Of course, we have written on [...]
Filed under: Experts Invited, Practice Management | Tagged: Equality in [Medical and Financial Services] Leadership, female doctors, female financial advisors, female leaders, Healthcare Leadership, medical leadership, nurse executives, physician-executives | 1 Comment »
iMBA Inc., and the ME-P Team By Ann Miller RN MHA MarcinkoAdvisors@msn.com Ph: 770-448-0769 The www.MedicalBusinessAdvisors.com is focused solely on appraising medical practices, surgery centers [ASCs], podiatry, optometry and allied healthcare businesses. Working with our affiliated partners, like the ME-P and others, we are also available for behemoth multi-specialty medical practices, major clinics, hospitals, related [...]
Filed under: "Doctors Only", CMP Program, iMBA, Inc., Practice Management, Practice Worth | Tagged: CMP, david marcinko, medical appraisals, medical clinic valuation, medical practice worth, USPAP, www.certifiedmedicalplanner.com, www.medicalbusinessadvisors.com | 1 Comment »
X-Mass Illustrated With Christmas today, we thought it would be fun to post an infographic on the business of Christmas. From the explosive growth of online shopping to the top selling Christmas gifts of different decades, we’ve got it covered. Conclusion And so, your thoughts and comments on this ME-P are appreciated. Please review [...]
Filed under: Breaking News, iMBA, Inc. | Tagged: The Business of Christmas, X-mass | 2 Comments »
Yet, Nursing Homes are Closing! Here is a visually compelling graphic that covers the rash of nursing home closures that have been occurring since 2008 across theUnited States. Even in the face of a ballooning Boomer and elderly population and the ACA, nursing homes are closing, and minority areas are feeling the brunt of [...]
Filed under: Ethics, Health Economics, Health Insurance | Tagged: elder care, Elderly Population is Exploding, Nursing Homes Closing, senior care, senior care planner | 1 Comment »
More on NPI Numbers By D. Kellus Pruitt DDS Dear Past TDA Board Members I have some questions similar to the ones that got me suspended from the TDA a year ago: Who among you can defend your decision to persuade trusting TDA members to volunteer for National Provider Identifier (NPI) numbers? And, why did [...]
Filed under: Healh Law & Policy, Information Technology, Pruitt's Platform | Tagged: ADA, BCBSTX, D. Kellus Pruitt, HIPAA, National Provider Identifier, NPI, TDA | 1 Comment »
Launching a New Video News TV Channel for Physicians By Omar Baig Dear ME-P Community, Drum roll please! We have just launched a 24/7 video news channel. Now every hour every day we will be adding valuable video content to Nexus. Our community is composed of physicians from 81 countries in time zones that [...]
Filed under: "Doctors Only", Information Technology, Videos | Tagged: david marcinko, medical executive post, Omar Baig, Physician Nexus | Leave a Comment »
A Growing Trend? By Cyndi Laurenti The rapidly evolving technological era has ushered a host of industries into the digital world, including the medical field. Health care professionals in private and public institutions and even masters and PhD programs are quickly learning the immense benefits of utilizing technology in their practices and this has [...]
Filed under: Information Technology, Op-Editorials | Tagged: Apple iPad, Apple Tablet PC, health information technology, HIT, IT, Jon White MD, Lancaster General Hospital, St. Mary's Medical Center, Supportive Oncology Services, tablet PC, Tablet Usage in the Health Care Industry | 4 Comments »
Where are You on the List? We may accuse each other of exaggerating when we say our jobs are killing us, but it might not be that much of an exaggeration. Dozens of studies over the years have linked job stress to increased incidences of disease and death. And so, discover who is at risk; [...]
Filed under: Alerts Sign-Up, Career Development | Tagged: Job Stress | 1 Comment »
Making a Difference in the Fight Against Cancer Thanks in part to donations from people like ME-P readers; we are able to provide year-round support to cancer patients and their loved ones. For example, in 2011, we helped an increasing number of people stay well and get well, we continued to invest in research to [...]
Filed under: Alerts Sign-Up, Ethics | Tagged: Fight Against Cancer | 2 Comments »
A Different Take on Asset Diversification By Rick Kahler; MS ChFC CCIM CFP® Salvation Army bell ringers – Angel trees – Appeals in the mail from charities, churches, and community organizations. Office and club gift exchanges. The family Christmas, or holiday list, that expands year by year. This time of year, the spirit of [...]
Filed under: Ethics, Financial Planning, Investing | Tagged: American Cancer Society, charity, charity hospitals, diversificatio0n, giving portfolio, Health Organizations:, holistic financial planning, Red Cross, Rick Kahler CFP®, Salvation Army, Tax giving charity, What’s In Your Giving Portfolio? | 1 Comment »
What’s Your Back-up Plan - Doctor? As per a recent study, 32% of data is lost by human errors. However hardware, software, hacks and smack-downs are responsible for remaining 68% data loss. Data protection gains major importance in data loss. It can be achieved by implementing data management successfully. Source: dell.com Conclusion And so, your thoughts [...]
Filed under: Information Technology | Tagged: Health Data Protection, Medical Data Protection, PHI, protected health information | Leave a Comment »
Why We Should “Run” from the SEC’s Mary Schapiro By Dr. David Edward Marcinko MBA CMP™ [Publisher-in-Chief] OK, I’ve opined about fiduciary accountability for stock brokers, FAs and FPs - as well as Mary Schapiro [Chairman of the SEC] before - on this ME-P. And usually, in not so glowing terms! But now, Mary really chaps my ethical [...]
Filed under: CMP Program, Ethics, Glossary Terms, Investing, Op-Editorials | Tagged: certified financial planner, certified medical planner, CFP, CMP, david marcinko, fiduciary, FINRA, Mary Schapiro, NASD, RIA, suitability rule, www.certifiedmedicalplanner.com | 3 Comments »
How Did We Get So Big – So Fast? As higher standards of living and better health care are reaching more parts of the world, the rates of fertility — and population growth — have started to slow down, though the population will continue to grow for the foreseeable future. The Forecasts U.N. forecasts suggest [...]
Filed under: Breaking News, iMBA, Inc., Videos | Tagged: fertility rates, NPR, Population 7 Billion, population explosion, www.NPR.org | Leave a Comment »
Achieving Proper Healthcare Alignment Number 3 in a Series of 6 By Sam Muppalla - Vice President, McKesson Health Solutions, Network Performance Management (NPM) Last week, on this ME-P, I wrote about Health Plans and the Three Levers of Innovation for Affordable Care. We looked at a number of innovations taking place in the areas of [...]
Filed under: Health Economics, Healthcare Finance | Tagged: healthcare networks, McKesson Health Solutions, Medical Cost Savings, Performance Based Medical Networks, Sam Muppalla | Leave a Comment »
Out Newest M E-P “Thought-Leader” www.TheOTHERMedicalEducation.com By Ann Milller RN MHA James Winston Phillips, MD, MBA, JD, LLM is President and founder of: The OTHER Medical Education, Inc. Academic Credentials Dr. Phillips academic credentials include a B.A. and M.D. from the University of Louisville, a M.B.A. from Jacksonville University, a J.D. from Florida Coastal School [...]
Filed under: Experts Invited, Financial Planning, Practice Management | Tagged: Dr. James Winston Phillips, Inc., jwpmd@TheOTHERMedicalEducation.com, The OTHER Medical Education, Thought-Leaders:, www.TheOTHERMedicalEducation.com | 1 Comment »
Specialists v. GPs v. MBAs v. PAs v. College Graduates Researchers at Duke University modeled the earning potential of cardiologists and primary care physicians between the ages of 22 and 65, taking into account medical school debt, earning potential and the age at which doctors begin earning an income. According to John Goodman, they then [...]
Filed under: Career Development, Practice Worth | Tagged: doctor salary, Duke University, John Goodman, MBAs, PAs, Present Value of Career Wealth | 1 Comment »
A Call to Increase Membership Rolls and Activity Levels By Ann Miller RN MHA [Executive-Director] Dear Readers and Members, We have some important updates for you! Subscriber Map We are making it easier to connect with physicians, management consultants and FAs from all 50 states, and beyond, in real-time fashion. Channels We currently have over 50 [...]
Filed under: "Advisors Only", "Doctors Only", iMBA, Inc., Media Mentions and PR | Tagged: ME-P, ME-P membership drive, medical executive post, www.MedicalExecutivePost.com | Leave a Comment »
Collaboration is the secret sauce of delivering new technologies By Staff Reporters U.K. Researcher Garners TR35 Accolade Pioneering research into programming biology has earned a Microsoft Research scientist a prestigious TR35 award, presented by Technology Review. BC at MSFT RC Andrew Phillips, a 34-year-old scientist who leads the Biological Computation group at Microsoft Research Cambridge, [...]
Filed under: Book Reviews, Information Technology, Research & Development | Tagged: Andrew Phillips, Biological Computation, microsoft, Microsoft Research Cambridge, Technology Review, TR35 Accolade | 1 Comment »
Just a Word -or- Much More? By Rick Kahler; MS ChFC CCIM CFP® Retirement is a word I’ve tried to purge from my professional vocabulary. Few people – even physicians and medical professionals – really know what it means anymore. Instead, I like to think of retirement as being a stage in life where [...]
Filed under: Financial Planning, Retirement and Benefits | Tagged: physician financial planning, Physician retirement, retirement planning, Rick Kahler CFP®, Un-Expected Physician Retirement | 2 Comments »
The New Price of Homes in 2012 Here is an infographic comparing prices of home sales and renting. This is an overview of housing prices from the start of the recession in 2008 until now. Source: foreclosuredeals.com Conclusion And so, your thoughts and comments on this ME-P are appreciated. Feel free to review our [...]
Filed under: Financial Planning | Tagged: home mortgages, home prices, Is it Better to Buy or Rent?, shiller index | 4 Comments »
On My Non-Linear … and Sometimes Concurrent Career Path By Dr. David Edward Marcinko MBA CMP™ [Publisher-in-Chief] As Medical Executive-Post readers know, I am a big believer in career and change management; evolution if you will. As an entrepreneurial doctor, writer, publisher, speaker, financial advisor, economist, management consultant and business owner, with a non-linear career spanning [...]
Filed under: "Doctors Only", Career Development, iMBA, Inc., Op-Editorials, Subscribe CD-ROM Journal | Tagged: CMP, david marcinko, entrepreneural MD, healthcare innovation, medical career development, medical career management, medical change management, Philippa Kennearly, Physician Nexus, www.BusinessofMedicalPractice.com, www.certifiedmedicalplanner.com, www.healthcarefinancials.com, www.medicalbusinessadvisors.com | 2 Comments »
FOREX Illustrated for Physicians and all Investors The infographic explains the basics of Forex and presents an excellent starting point for doctor-investors or anyone who is curious about how to trade Forex. It’s also great for experienced Forex traders who want to explain what they do to colleagues, friends and family. Source: CMSFOREX Conclusion And [...]
Filed under: Investing | Tagged: Foreign Exchange Market, Forex | Leave a Comment »
Unlocking Affordable Care Number 2 in a Series of 6 By Sam Muppalla – Vice President, McKesson Health Solutions, Network Performance Management (NPM) Last week, for the ME-P, I wrote about the increasing Pressure to Deliver Affordable, High-Quality Care. In the face of those pressures, many health plans have begun to explore innovative approaches to [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: Accountable Care Organization, ACO, Affordable Care, California Public Employees’ Retirement System, Catholic Healthcare West, health plans, health reimbursement accounts, McKesson Health Solutions, P4P, Patient Centered Medical Home, PMPM, Sam Muppalla, value-based insurance designs | 2 Comments »
A Graphic Presentation [1861-1935] with Commentary from the Publisher By Dr. David Edward Marcinko FACFAS MBA CPHQ CMP™ www.CertifiedMedicalPlanner.com www.MedicalBusinessAdvisors.com www.HealthcareFinancials.com www.BusinessofMedicalPractice.com As our private iMBA Inc clients, ME-P subscribers, textbook and dictionary purchasers, seminar attendees and most ME-P readers know, Ken Arrow is my favorite economist. Why? About Kenneth J. Arrow, PhD Well, in 1972, [...]
Filed under: Health Economics, iMBA, Inc., Investing, Op-Editorials, Portfolio Management | Tagged: ACA, CMP, david marcinko, double-dip recession, Jason Zweig, Jeremy Grantham, Ken Arrow, L. Merle Hostetler, National Medal of Science, Nouriel Roubini PhD, physician investors, Sir John Templeton’s, Why 75 Years of American Finance Matters, www.BusinessofMedicalPractice.com, www.certifiedmedicalplanner.com, www.healthcarefinancials.com, www.medicalbusinessadvisors.com | 1 Comment »
Are Doctors Responsible for an Information Overload? These days’, women are more inundated than ever with information about how to live better; from their neighbors, physicians, the internet, family and friends. Yet, a snapshot of women’s health in the US shows many women still need to be more proactive about self-care. Risk Factors A surprising [...]
Filed under: Breaking News | Tagged: American Heart Association, women's medicine, Women’s Health in the USA | Leave a Comment »
“Book of the Month” for All Medical Professionals www.BusinessofMedicalPractice.com Sponsor: www.MedicalBusinessAdvisors.com
Filed under: Book Reviews, iMBA, Inc., Practice Management | Tagged: Business of Medical Practice, david marcinko, www.BusinessofMedicalPractice.com | Leave a Comment »
Is this Survey Applicable to Financial and Medical Professionals, Too? A recent survey on Work-Life Balance revealed that men are happier than women. The survey of 673 workers showed that men are 25% happier at work and 8% happier at home than women are. The COPS The Captivate Office Pulse Survey [COPS] also has some [...]
Filed under: Career Development | Tagged: Are Men Happier With Work-Life Balance than Women?, Captivate Office Pulse Survey, With Work-Life Balance | Leave a Comment »
Mobile Tumor Link Drops-Out These days nearly everything gives you cancer, except mobile phones, apparently. Suspicions of a link between brain tumors and mobile phone use have existed for some time. And, if for no other reason, it just seems ill-advised to hold a device that functions with the grace of electromagnetic radiation right next to your [...]
Filed under: Ethics, Research & Development | Tagged: Mobile Phone Health Concerns | Leave a Comment »
Ask an Advisor By Staff Reporters According to PM News #4325, a podiatrist in San Luis Obispo, CA, recently received his first EMR incentive check. Congratulations and kudos were had by all in the practice. Then, reality set in as the doctor wondered out loud! Q: Is the incentive check taxable? Assessment We now seek input and [...]
Filed under: "Ask-an-Advisor", Taxation | Tagged: EHRs, EMRs, Is an EMR Incentive Check Taxable? | 1 Comment »
On IRS Publication 950 By Children’s Home Society of Florida Foundation The IRS recently released Publication 950, Introduction to Estate Gift Taxes. It provides a very general overview for the public, doctors and many professional financial advisors with respect to estate and gift taxes. The publication is a useful and concise description of the changes [...]
Filed under: Estate Planning, Taxation | Tagged: DSUE Amount, Estate Planning, estate taxes, Generation Skipping Transfer Tax, Gift Annual Exclusion, Gift Splitting, Gift Taxes, IRS Form 706, IRS Publication 950, Unified Credit | 3 Comments »
The ME-P is a Nominee! By Ann Miller RN MHA [Executive-Director] Healthline is having a contest to identify the best health blogs of 2011 and the Medical Executive-Post is one of their nominees. Right now, we’ve just been listed and would love to make a good showing. Our Mission In the Health 2.0 era of political reform, [...]
Filed under: Voting Polls | Tagged: Best Health Blog of 2011, Facebook, Healthline, medical executive post, MEP, twitter | Leave a Comment »
An ME-P Reader Survey By Dr. David Edward Marcinko MBA CMP™ As our physician readers are aware, beginning in 2013, CMS will penalize hospitals for excess readmission rates. Initial focus will be on readmissions for heart failure, acute myocardial infarction and pneumonia — data that is already reported on the CMS Hospital Compare web site, [...]
Filed under: Quality Initiatives, Research & Development, Surveys and Voting | Tagged: CMS, Hospital Re-Admissions, How to Prevent Hospital Re-Admissions | 1 Comment »
Sponsored Medications Increase MDs Bottom Line Increasing in costs each year, prescription pills are one of the most profitable and dominating industries in the nation, with annual sales in the hundreds of billions. Prescribed medications constitute a significant bulk of work that medical coders must transcribe. Shockingly, the prescription pill industry has questionable practices to [...]
Filed under: Drugs and Pharma, Ethics | Tagged: Drugs, pharma, pharmaceutical companies, prescription pills, sponsored drugs | 1 Comment »
December 4-10, 2011 By Dr. David Edward Marcinko FACFAS, MBA, CMP™ [Editor-in-Chief] Hand washing is one of the best ways to prevent the transmission of disease, especially during influenza season. And, public health officials are using National Hand Washing Awareness Week, December 4-10, as an opportunity to remind people – and medical professionals – about [...]
Filed under: Alerts Sign-Up, Quality Initiatives | Tagged: HAIs, hospital acquired infections, National Hand Washing Awareness Week, nosocomial infections | 2 Comments »
US Healthcare Expenditures Reaching Unsustainable Levels By Sam Muppalla Vice President: McKesson Health Solutions, Network Performance Management (NPM) Expenditures on healthcare in the United States continue to increase and are rapidly reaching unsustainable levels. Pressures by businesses, households and the government to address these escalating costs and ensure high-quality healthcare are multiplying. This is the [...]
Filed under: Health Economics, Health Insurance, Healthcare Finance, Op-Editorials, Quality Initiatives, Videos | Tagged: ACA, Bureau of National Affairs, Health insurance companies, McKesson Health Solutions, Medical Loss Ratio, Patient Protection and Affordable Care Act, Prometheus Payment, Sam Muppalla, US Healthcare Expenditures | 2 Comments »
The Rise of Obesity and Type 2 Diabetes in Children Over the past two decades, scientists have noticed a rising incidence of type 2 diabetes—which once affected almost exclusively middle-aged and elderly people—in obese children. Source: GOOD Assessment What is this chronic disease, and how does it relate to America’s obesity crisis? Conclusion And so, [...]
Filed under: Quality Initiatives, Research & Development | Tagged: diabetes, type II diabetes | Leave a Comment »
Then … and Now As the global economy continues to falter, all eyes are fixed on the European Union nations who have been rocked by credit downgrades, bailout discussions, and austerity measures. Column Five Media created this infographic with Mint to examine how government debt as a percentage of GDP has changed from 2000 [...]
Filed under: Investing | Tagged: Euro Zone, European Debt Crisis, European Union | 1 Comment »
We Can Help with a FMV Practice Appraisal ADVERTISEMENT The www.MedicalBusinessAdvisors.com practice valuation and transition team can help you appraise your medical practice, develop a new associate/partner transition plan, and even help transition your patients. A Profitable Transition You can also choose how to “wind-down” or transition out of practice gracefully and economically, as you [...]
Filed under: "Doctors Only", iMBA, Inc., Practice Worth | Tagged: david marcinko, fair market valuation, FMV, medical practice appraisal, medical practice worth, www.medicalbusinessadvisors.com | Leave a Comment »
Out … Like a Light! Do you have trouble fitting daylight into your winter lifestyle? Or, have difficulty seeing medical patients, making hospital rounds, or serving consulting or financial advisory clients? Maybe it’s SAD? But, how do you cope with the long dark, days of December and January? To raise awareness of SAD, First Choice [...]
Filed under: Ethics | Tagged: SAD, winter blues, winter lifestyle | 1 Comment »
Was the ADA Complicit? By D. Kellus Pruitt DDS If you were to walk into my dental office with a toothache, and I told you that before I relieve your pain, you have to agree not to say bad things about me on the internet, how badly would the tooth have to be hurting to [...]
Filed under: Ethics, Op-Editorials, Practice Management, Professional Liability, Pruitt's Platform, Risk Management | Tagged: ADA, anti-defamation contracts, D. Kellus Pruitt DDS, Dr. Jeffrey Segal, Dr. Stacy Makhnevich], HIPAA, Medical Justice Inc, OCR | 9 Comments »
