How to Become A Financial Advisor [Learned Profession or Professional Sales Force?]

A Recent E-mail that I Received By Dr. David Edward Marcinko MBA, CMP™ www.CertifiedMedicalPlanner.com [Editor-in-Chief] As a former certified financial planner for almost 15 years, I was surprised to recently receive the following unedited e-mail correspondence. Dear Marcinko, If you are clever, have a way with people, or are a born salesperson, then becoming financial [...]

Understanding Healthcare AR and PO Financing

A Normal or Strategic Business Imperative for Doctors? If you, or your medical practice, can’t qualify for a traditional business loan, or if you don’t have time to wait for those funds, there are other alternative financing options that might be the answer — especially when those funds will equal a big return. AR and [...]

Mobile Healthcare Applications Update for 2012

  Market Will Grow in US to 1.3 Billion Dollars By Markus Pohl The smartphone application market for mobile healthcare will reach US$ 1.3 billion in 2012– up from US$ 718 million in 2011. Despite this substantial growth, the mHealth market is still in an embryonic state – especially in comparison to the US$ 6 [...]

Clarifying Some NPI Number Mis-Understandings

The NPI Number: What is is – How it works? By Carol S. Miller RN, MBA The National Provider Identifier (NPI) is a HIPAA Administrative Simplification Standard that provides a unique identification for covered health care providers, all health plans and health care clearinghouses.  The NPI must be used in administrative and financial transactions adopted under [...]

On “Financial Planning for Physicians AND their Advisors”

Financial Planning Handbook for Physicians and Advisors Sponsored by: www.CertifiedMedicalPlanner.com

About “Hospitals and Health Care Organizations”

ADVERTISEMENT Management Strategies, Operational Techniques, Tools, Templates and Case Studies PRE-RELEASE REVIEW ORDER HERE http://www.crcpress.com/product/isbn/9781439879900

The High Cost of Dying

An RIP Visual Presentation You might think that once you expire, your financial worries are over. But alas, even in the afterlife you will still be paying your debts. Funerals rank among the most expensive purchases many people will ever make, and the burden of payment often falls on family. Learn how expensive it really [...]

Top Online Technology Trends of 2011

  Forget about eHRs and m-Health Source: gplus.com Conclusion And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure. Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos Speaker: If you need a moderator or [...]

Would You Retain a Bankrupt CFP® for Financial Advice?

ME-P Readers Respond Sponsored by: www.CertifiedMedicalPlanner.com According to colleague and financial advisor, Mike Kitces CFP®: As the difficult economic environment continues, bankruptcy filings in the United States continue to occur at an elevated rate. And it appears that financial planners are having their share of bankruptcies as well … requiring the CFP Board via their [...]

Doctor – Are You Better than Average?

  For Male Medical Professionals Only Source: Frugaldad Conclusion      And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure. Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos Speaker: If you need a moderator or [...]

The Cost of Technology Over The Decades

  Plunging – Yet, Why Hasn’t Medical Care Followed Suit? We are grateful to live in this century. For example, movies of the 1980′s have been more than intriguing over the course of the past few months, but times were obviously hard back then. Cell phones weren’t nearly as mobile as they are now, cassette [...]

January 2012 [Health] Plan Management Navigator

With 2012 Benchmarking Study Invitation By Marco Georeno Health Care Analyst Dear Dr. Marcinko and ME-P Readers At the risk of appearing overwhelmed with New Year’s enthusiasm, we think the attached edition of Plan Management Navigator is especially interesting: 1. We report on the cost decisions made by low cost Blue Cross Blue Shield plans. [...]

On Political Financial Plans

  From Republican Presidential Candidates With less than a year away, the republican election machine is fired up and ready to go. Hot topics include the economy, housing, jobs, Medicare, Social Security, and all sorts of healthcare initiatives and regulations of interest to medical professionals. Source: totalbankruptcy.com Assessment How has your opinion on the above changed [...]

Broadening the Strategic Value of Integrated Medical Provider Management‏

How Health Plans Can Create Scalable and Competitive Products that Enable Affordable and High-Quality Care   By Sam Muppalla – Vice President, McKesson Health Solutions Network Performance Management [Part 6 in a 6 part series] Over the past few weeks, I’ve covered a lot of ground in this ME-P series of six essays. We looked at the [...]

A Nursing License Map

About Career Management in Nursing This is a guide for picking a career in nursing. It covers the wide range of different options available to those interested in pursuing health care–someone considering the field for the first time might not know that there are so many different types of nursing degrees and nurse positions! The text [...]

Self-Directed IRAs for Medical Professionals

Eschewing Limited Investment Choices By Rick Kahler CFP® MS ChFC CCIM Most people, and medical professionals, with Individual Retirement Accounts [IRAs] open them with a bank or brokerage firm (the custodian) that limits what investments can go into the account. These custodians typically limit your investments to stocks, bonds and mutual funds with firms where [...]

Some Money Saving Tips for Millennial Doctors

And All  Young Medical Professionals Young doctors, nurses and healthcare administrators always want to be hip with the latest tech gadgets. Unfortunately, they are also the age group with the least money and the most college, graduate or medical school debt. So, the goal of this infographic is to help find a happy medium that allows [...]

On Open Letter to Dental Economics

Fun on a Slow Day [will that be paper or electrons?] By Darrell K. Pruitt DDS As anyone following the ME-P knows by now, Dental Economics’ officials have been suspiciously unhelpful in locating experts capable of responding to concerns about the cost and safety of EHRs in dentistry – quite the opposite. The CR Foundation [...]

Chief Medical Officer [CMO] Search

A Major Teaching Hospital By Julie Vetter – Associate Consultant Dear Dr. Marcinko and ME-P Physician Executives One of the top 15 major teaching hospitals in the country is seeking a Chief Medical Officer [CMO] to serve as the clinical strategist to drive improvement in hospital and system-wide services, and quality measures. The CMO will [...]

The Human SubWay Map

Systems Anatomy Under our Skin This underskin is an infographic that traces the routes of eight different systems within the body (Digestive, Respiratory, Arterial, etc.), and highlights the major connection points. Source:  just-sam.com Conclusion     And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, [...]

The Americans with Disabilities Act and Deaf Patients

Interpreting … the Interpreter Ask-an-Advisor QUERY: I understand that as doctors we need to accommodate the disabled and follow the ADA of 1990. In the case of hearing-impaired patients, it is our cost to have an interpreter present. But, for example, is the doctor able to dictate what interpreter will be used or does the [...]

An Integrated Approach to Healthcare Network Alignment and Scalable Innovation‏

More on Healthcare Network Design and Automation Part 5 in a 6 part series By Sam Muppalla – Vice President, McKesson Health Solutions Network Performance Management Previously, on this ME-P, I wrote about the barriers to alignment across product, network, care and reimbursement innovations. And, yes, I teased you with the three-word preview of what [...]

Financial Planning for Physicians

A Handbook for Doctors and their Financial Advisors ADVERTISEMENT Book Review and Summary Financial Planning for Physicians and Advisors describes a personal financial planning program to help doctors avoid the perils of harsh economic sacrifice. It outlines how to select a knowledgeable financial advisor and develop a comprehensive personal financial plan, and includes important sections [...]

Are Physicians Really Going Broke?

Am I Prescient, Lucky or Just an Observant Trend Reporter? By Dr. David Edward Marcinko MBA CMP™ [Publisher-in-Chief] A few years ago I was involved in a Physician’s Money Digest report that showed the average physician reader (ie, 47 years old and $184,000 in annual income) would need about $5.5 million to retire. This was [...]

The Prescription [Rx] Drugs Most Marketed to Doctors

  An Infographic This ME-P comes to us from Appature, a Seattle based company that provides a cloud based healthcare marketing tool. Upon submission of this infographic, the folks at Appature had the following to say: Appature Inc, a Seattle-based software company that makes marketing tools for the healthcare industry, just launched its first infographic [...]

On e-Claim Only Dental Plans

About their Hidden Costs - I’m Talking PHI Breaches By D. Kellus Pruitt DDS If the rumor is true about Bluebell Ice Cream’s “e-claim-only” dental benefit plan that is to go into effect in March, how many in the east-central Texas town of Brenham (pop. 16,000) will be properly warned about the danger to themselves, their [...]

About Pancreas Cancer Survival Rates

 Still Not Improving Here is an infographic to highlight the main statistics about pancreatic cancer that are unknown – you know, less than 3% of people who are diagnosed will live to see five years post-diagnosis? Assessment The tree maps showing the difference between death rates and funding for the different forms of cancer is [...]

Are We Finally Lifting the Secret IRS Veil on Un-Paid Taxes?

The Tax Gap Increases to $450 Billion By Children’s Home Society of Florida Foundation By Dr. David Edward Marcinko MBA, CMP™ Each year the IRS conducts a survey to determine the amount of unpaid taxes. The “tax gap” is defined as the amount of taxes that are owed by taxpayers but not paid on time. [...]

Is it Time for a Credit Check-Up [brief doctor visit or extendend consultation]?

  Reviewing your Credit Report for the New Year [A CPT® code analogy] Source: creditdonkey.com Conclusion      And so, your thoughts and comments on this ME-P are appreciated. Please excuse our pun and review the top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and [...]

Automobile Insurance Update for Medical Professionals

Some Need-to-Know [Not Boring] Information for Doctors, Nurses and CXOs By Dr. David Edward Marcinko FACFAS, MBA, CPHQ, CMP™ [Publisher-in-Chief] As regular ME-P readers know, I held a property and casualty insurance license for more than 15 years; this included homeowners and automobile insurance. BTW:  P&C also includes malpractice insurance [doctors and medical professionals] and [...]

Send Us Your Medical, Financial and Management Consulting Jokes

A New ME-P Feature   By Ann Miller RN MHA [Executive-Director] The Set-Up A motorcycle patrolman was rushed to the hospital with an inflamed appendix. The doctors operated and advised him that all was well; however, the patrolman kept feeling something pulling at the hairs in his crotch. Worried that there might be a second [...]

Anatomy of a Doctor

Risks versus Rewards [A Changing Calculus] Some laymen enjoy helping others, but don’t seriously consider medical school. Hard work does pay off, but only if you’re good at biology in this case. One problem has always been the crazy amount of names to learn. The thought of SAT exams, medical school and MCAT tests already [...]

How Much Money to Retire [The Number]?

Men and Women at Work Conclusion            And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure. Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos Speaker: If you need a moderator or speaker for an [...]

About Hospitals and Healthcare Organizations

Management Strategies, Operational Techniques, Tools, Templates and Case Studies ADVERTISEMENT Book Review and Summary Drawing on the expertise of decision-making professionals, leaders, and managers in hospitals and healthcare organizations, this book addresses their ubiquitous struggles with decreasing revenues, increasing costs, and high consumer expectations in a competitive market. Offering practical experience and applied operating vision, [...]

Barriers to Performance Based Healthcare Networks and Medical Cost Savings

 Understanding the need to align care models, payment, products and networks   Number 4 in a series of 6 By Sam Mupalla - Vice President, McKesson Health Solutions, Network Performance Management (NPM) I wanted to follow up on last month’s ME-P discussion about Performance-based Networks and Medical Cost Savings. I wrote about the need to align [...]

What is a Stock?

About Fractional Company Ownership This inforgraphic explains what stock ownership is. To make investment choices that ultimately pay off, you need to start by knowing the fundamentals. It’s a step many medical investor wannabes skip, since … well, studying the basic terms and trends are not exactly entertaining. See elsewhere on this ME.P. Conclusion  And [...]

Increasing Operating Room Efficiency and Flow-Thru Logistics

Achieving Better Prep, Execution, and Discharge in the OR By Denice Soyring Higman By Adam Higman By Dragana Gough http://www.soyringconsulting.com   Pre-Operative Phase The OR should run like a well-oiled machine with patients moving through each stage seamlessly as the slightest factor can have lasting negative effects.  As with most things, the process of improvement [...]

About our Money

Interesting Facts on the USD Conclusion       And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure. Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos Speaker: If you need a moderator or speaker for an [...]

Death and Grave Stone Symbolism

Common Signs and Symbols This infographic takes an in-depth look at the most common signs and symbols used on gravestones around the world. Death is life’s ending. Because everyone who is born eventually dies, it is the center of many traditions and organizations. Customs relating to death are a feature of every culture around the [...]

Happy Birthday Professor Hope Rachel Hetico

Congratulating an ME-P Dynano By Dr. David Edward Marcinko MBA By Ann Miller RN MHA By Edward, Teresa and Mackenzie [ME-P staff] During this busy week, we’d like to acknowledge the birthday of one of our own; Hope Rachel Hetico. Despite currently being in Chicago on executive consulting assignment for a local Physician Hospital Organization, [...]

As an Ex Agent – Why I’m Still Protesting My Open Allstate Home Owner’s Insurance Claim

And … the William H. Kelly Insurance Agency in Atlanta, Too! By Dr. David Edward Marcinko MBA [former insurance agent] An Open Letter TO: The Honorable Ralph T. Hudgens. Georgia State Insurance Commissioner. Two Martin Luther King, Jr. Drive.  West Tower, Suite #704. Atlanta, Georgia 30334 RE:  Appeal to Open Allstate Insurance Claim #0145606xxx Dear [...]

About Herbal Medicines

More Popular than Ever Herbal medicines have seen an increase in popularity since many people have become more health conscious. Others are mistrustful of the health industry, so they are taking their health into their own hands. If you’re smart about your herbal medicines and how you use them, some believe you can be a [...]

Doctors May Save Some Money with These 2011 IRS Tax Changes

A Brief IRS Tax Code Update By Children’s Home Society of Florida Foundation In an information letter, the IRS outlined seven specific changes in the 2011 law that will be useful to doctors and all taxpayers filing their tax returns this year. And, some of these 2011 tax law changes may reduce your taxes: 1. [...]

How Technology Changed Medicine

A Historic Timeline Review of Advances Today we address how technology has changed the medical industry. Definition This infographic starts off by stating “medical technology is the application of devices, procedures, and knowledge for diagnosing and treating disease for the purpose of maintaining, promoting, and restoring wellness while improving the quality of life.” On the [...]

About Hospitals & Healthcare Organizations

ADVERTISEMENT    Management Strategies, Operational Techniques, Tools, Templates and Case Studies Conclusion            And so, your thoughts and comments on this textbook are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure. Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos Speaker: If you need a [...]

Controlling Health Care Spending [An NIHCM Foundation Webinar]

The Imperative to Act and Diverse Views of the Road Forward   The U.S.now spends $2.5 trillion annually on health care, accounting for well over 17 percent of GDP and growing rapidly with challenging fiscal consequences. Despite the imperative to control spending, we face much uncertainty about how to move to a more sustainable path. [...]

Drug Companies Reduce Payments to Doctors as Scrutiny Mounts

Dollars for Doctors [How Industry Money Reaches Physicians] Part of a year-end series on major investigations By Tracy Weber and Charles Ornstein ProPublica, January 3rd, 2012, 2:55 p.m. Some of the nation’s top medical schools cracked down on professors who give paid promotional talks for drugmakers last year, and the firms themselves cut back on [...]