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    As a former Dean and appointed Distinguished University Professor and Endowed Department Chair, Dr. David Edward Marcinko MBA was a NYSE broker and investment banker for a decade who was respected for his unique perspectives, balanced contrarian thinking and measured judgment to influence key decision makers in strategic education, health economics, finance, investing and public policy management.

    Dr. Marcinko is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; as well as Oglethorpe University and Emory University in Georgia, the Atlanta Hospital & Medical Center; Kellogg-Keller Graduate School of Business and Management in Chicago, and the Aachen City University Hospital, Koln-Germany. He became one of the most innovative global thought leaders in medical business entrepreneurship today by leveraging and adding value with strategies to grow revenues and EBITDA while reducing non-essential expenditures and improving dated operational in-efficiencies.

    Professor David Marcinko was a board certified surgical fellow, hospital medical staff President, public and population health advocate, and Chief Executive & Education Officer with more than 425 published papers; 5,150 op-ed pieces and over 135+ domestic / international presentations to his credit; including the top ten [10] biggest drug, DME and pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published academic text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].

    Dr. David E. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner® who was named “Health Economist of the Year” in 2010. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics trade journals and publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News] etc.

    Later, Dr. Marcinko was a vital recruited BOD member of several innovative companies like Physicians Nexus, First Global Financial Advisors and the Physician Services Group Inc; as well as mentor and coach for Deloitte-Touche and other start-up firms in Silicon Valley, CA.

    As a state licensed life, P&C and health insurance agent; and dual SEC registered investment advisor and representative, Marcinko was Founding Dean of the fiduciary and niche focused CERTIFIED MEDICAL PLANNER® chartered professional designation education program; as well as Chief Editor of the three print format HEALTH DICTIONARY SERIES® and online Wiki Project.

    Dr. David E. Marcinko’s professional memberships included: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA, FPA and HIMSS. He was a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.

    Marcinko is “ex-officio” and R&D Scholar-on-Sabbatical for iMBA, Inc. who was recently appointed to the MedBlob® [military encrypted medical data warehouse and health information exchange] Advisory Board.

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Chief Marketing Officer

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About the Medical Executive-Post Weblog

Since inception, The Executive Post at HealthcareFinancials.com [Medical Executive Post] and our sponsoring parent and professional consulting firm www.MedicalBusinessAdvisors.com, has acquired the reputation as one of the most independent and respected voices in the healthcare industrial complex and medical business industry.

And, while we have been praised as well as lambasted; we are never banal and are always pertinent, controversial, cutting-edge and physician compliant. Our related textbooks, CDs, paperbacks and best-selling dictionaries are among the most widely read publications in the field. And, our emerging online health administration professional educational program for physician focused financial advisors and medical business consultants is also growing www.CertifiedMedicalPlanner.org  

Of course, our quarterly print guide companion; Healthcare Organizations [Financial Management Strategies] is a premium 1,200 pages, two volume periodical, that keeps CEOs, CFOs, CXOs, physicians, nurse-leaders and healthcare executive subscribers abreast of the latest institutional health economics, managerial and business developments. It is known as the imperative survival guide in the current era of hospital reform.

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Chief Marketing Officer [CMO] Opportunity  

The CMO will direct all marketing and advertising efforts of the Executive Post at HealthcareFinancials.com and its related communication forums. 

The ideal candidate will have a Marketing / Advertising and English / Journalism background with proven record of performance from the print and dot-com era. However, students and interns of the rich new media communications era are also encouraged to apply. Duties include, but are not limited to the following: 

  • Recruit licensed, degreed and related business, IT, management, economics, financial and healthcare professionals and executives to post, comment, mentor and opine in all subject matter forums
  • Recruit visitors, subscribers, colleagues to post comments in all subject forums
  • Grow our electronic syndicated feed network
  • Recruit personal interviews and professional essays from industry pundits, thought-leaders and other movers-shakers
  • Ideate, develop and launch new blog features and forums that increase visibility, connectivity and professional socialization
  • Develop special projects in a matrix type environment
  • Promote the Executive Post to the nation’s hospitals, clinics and medical offices; physicians, dentists, healthcare practitioners and nurses; healthcare executives, managers and administrators; financial advisors, accountants, attorneys, HIT gurus and all business management consultants working in the healthcare space on a very limited budget.
  • Create marketing buzz, PR and enthusiasm for related hardcover texts, soft cover books and dictionaries, and especially our premium quarterly subscription institutional print-guide Hospitals and Healthcare Organizations [Financial Management Strategies].
  • Craft and executive an electronic marketing plan with new channels of distribution
  • Work virtually at home, school, own office or elsewhere with little supervision

As CMO, you will also oversee the weblog and participate in iMBA’s www.MedicalBusinessAdvisors.com marketing activities; including marketing plans and communications, product marketing, market research, advertising, and public relations. You will establish company-wide marketing plans to attain corporate sales and profitability goals. You will evaluates the effectiveness of marketing programs and initiatives across all of iMBA’s product areas and develop business plans to expand business and keep products in a leadership role.

Reporting directly to the CEO, you will be a key contributor to the leadership and management team of the corporation. Specific start-up experience will be regarded as a definite plus. 

As an emerging e-enterprise, we offer no compensation or benefits program. You work as a 100% commission-based Independent Contractor [IC], anytime and anywhere. But, we do offer exposure, experience and opportunities to launch your professional marketing career, or extend an existing or former one [EOE]. Please contact us today with cover letter and resume!  

Edward: 770.448.0769 (vm) 775.361.8831 (fax)

MarcinkoAdvisors@msn.com

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Medical Errors and Hospital Safety

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A “Speak-Up” Prevention Program

[By Staff Writers]

According to research by Harvard School of Public Health, about 34 percent of patients say they or their families have been affected by medical errors.  

For people with chronic illnesses, the percentage rises to a frightening 50 percent. This may be, in part, because doctors aren’t spending time listening to patients; interrupting after only 23 seconds.

Realistically, it also comes from the inevitable process errors that occur during routine care, including “never-event” like wrong-site surgery. 

Therefore, experts are increasingly suggesting that patients stay on guard in medical settings, and in particular, play a larger role in hospital medical safety. To get this done, it will take a cultural change, as patients typically assume they should blindly follow medial orders, according to Dennis O’Leary, JCAHO’s president.

And so, to promote patient participation in hospital safety, JCAHO has launched a new program called “Speak Up” to encourage the reporting of safety concerns. 

Now that patient advocates are also placing an emphasis on getting family members to keep their eyes open for hospital care errors – what do you think about this program – dismayed, dismissed or empowered?

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An Emerging Never-Events Policy

Leapfrog Hospital Quality and Safety Survey

Staff WritersHospital Access Management

According to a September 2007 report, just over half of responding hospitals have adopted the new Leapfrog Group Never-Events Policy, which is a list of actions to take whenever a “never-event” – a rare medical error – occurs. By agreeing to this policy, hospitals pledge to:

  • Apologize to the patient and/or family affected by the never-event.
  • Report the event to at least one of the following agencies: The Joint Commission, a state reporting program for medical errors, a Patient Safety Organization.
  • Perform a root cause analysis, consistent with instructions from the chosen reporting agency.
  • Waive all costs directly related to the serious reportable adverse event.

The Leapfrog Group follows the National Quality Forum’s (NQF) definition of “never-events”; which includes errors such as surgery performed on the wrong body part or on the wrong patient, leaving a foreign object inside a patient after surgery, and discharging an infant to the wrong person, etc. 

Is this policy reasonable or unreasonable, in your estimation?

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Offshore Employee Medical Benefits

A Global Healthcare Model

Staff Writers

 

American businesses are now extending their cost-cutting initiatives to include offshore employee medical benefits and facilities like the Bumrungrad Hospital in Bangkok, Thailand (cosmetic surgery), the Apollo Hospital in New Delhi, India (cardiac and orthopedic surgery) are premier examples for surgical care. 

Both are internationally recognized institutions that resemble five-star hotels equipped with the latest medical technology. Countries such as Finland, England and Canada are also catering to the English-speaking crowd, while dentistry is especially popular in Mexico and Costa Rica.  

Although still considered “medical tourism,” Mercer Health and Benefits was recently retained by three Fortune 500 companies interested in contracting with offshore hospitals and JCAHO has accredited 88 foreign hospitals through a joint international commission.  

To be sure, when India can discount costs up to 80%, the effects on domestic hospital reimbursement and physician compensation may be assumed to induce downward pricing pressure spirals. 

So, what do you think of this idea and how does it relate to the currently weak US greenback?

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Another New Idea?

[By Staff Writers]

According to Mark Fendrick MD and Michael E. Chernew PhD, instead of the one size fits all approach of traditional health insurance, a “clinically-sensitive” cost-sharing system that supports co-payments related to evidence-based value for targeted patients seems plausible.  

The Model

In this model, out-of-pocket costs are based on price and a cost/quality tradeoff in clinical circumstances: low co-payments for interventions of highest value, and higher co-payments for interventions with little proven health benefit.  

Benefit Product Packages

Smarter benefit products and packages are then designed to combine disease management with cost sharing to address spending growth. 

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Assessment

What do you think of this new health insurance business model; is it revolutionary or evolutionary?

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to 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.

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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

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Tax and Estate Planning Attorneys

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Legal Re-Tooling in the Era of Healthcare Reform

[By Staff Writers]

As a tax, estate planning or bankruptcy lawyer, you already know that almost every legal magazine around has articles or advertisements proposing that you become a financial planning professional or business consultant to your physician clients. 

Moreover, lawyers of all stripes are being pushed toward interdisciplinary alliances by encroachment on their turf by the Big Four accounting firms. With audits of publicly held companies now a commodity, the giant accounting firms are getting more of their revenues from consulting, and that puts them into direct competition with attorneys, MBAs, actuaries and other management and financial service professionals. 

Of all careers, you know how absolutely onerous it is to practice medicine today, and are finally thankful that you did not take that career route many years ago. So, like your neighbor the accountant, you begin to explore that potential of developing a service line extension to your legal practice, in order to assist your medical colleagues who have been hit on hard economic times.  

2010 Estate Tax Reform Letter

The Epiphany 

In fact, you soon realize that more than 90,000 trust, probate and estate planning attorneys like yourself are interested in pursuing financial planning in the next decade. And, you reckon, advising physicians has got to be easier than law, or less stressful than the corporate lifestyle of your MBA trained brother-in-law, right? 

So, you set out to stretch your legal horizons and explore the basic legal nuances of those topics not available in law school when you were a student. Things like medical fraud and abuse standards; managed care compliance audits and Medicare recoupments, CPT® codes, OSHA, EMTALA, HIPAA, capitation and EPA standards; anti-trust issues; and managed care contract dilemmas or de-selection appeals; etc. 

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The New World 

What a brave new world the legal profession has become! Even the American Bar Association’s commission on multi-disciplinary practice has recommended that lawyers be permitted to share fees and become partners with financial planners, money managers and other similar professionals. 

As a real life example, the venerated Baltimore brokerage firm of Legg Mason teamed up with the Boston law firm of Bingham Danna, LLC, to create one of the first marriages between a law and securities firm. 

Assessment 

If you want in on the challenge and bucks, you’d better acquire at least a working knowledge of healthcare administration, or perhaps help craft some new case law, or assist your doctor-clients in some fashion; otherwise, you will remain a legal document producer.

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to 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.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners(TM)

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EMRs and Patient Safety

Exploring the Shibboleths

Staff Writers

A new study by University of Alberta and the Canadian Health System suggests that while Electronic Medical Records [EMRs] might provide a patient safety boost, not much is known about the full benefits of this technology.  

Despite assumptions that EMRs improve clinical workflow and medical care quality, there’s little evidence-based research to document this outcome. 

It was also noted that there’s a definite cultural impact on health organizations when they adopt EMRs. And so, it seems there’s a need to go out and challenge some shibboleths and EMR assumptions a bit more. What are your experienced impressions?

Conclusion

What do you think? On face value, the study does more to document the unknown impact of EMRs, than it does known patient care outcomes. And so, your thoughts and comments on this Executive-Post are appreciated.

Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com  or Bio: www.stpub.com/pubs/authors/MARCINKO.htm

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