About our Didatic and Educational Content

Posted on January 27, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

The EXECUTIVE-POST Blog for www.HealthcareFinancials.com

[Integrating health economics & medical management information] 

THE EXECUTIVE-POST’s UNIQUE CHARACTERISTICS [like no other]:  

iMBA Inc., and Healthcare Financials Executive-Post is unbiased 

· Unlike most financial and managerial education providers, we are focused only on physicians, healthcare colleagues, medical executives and practices, clinics and related healthcare entities. We are unbiased and do not manage assets or sell financial services or products of any kind.

· Our posts, content and curriculum is free from any conflict of interest — designed by dual and triple degreed and/or certified medical and nursing experts, accounting, legal, management and health economists. Our fiduciary financial advisors and management consultants do not to sell financial products.  

iMBA Inc., and Healthcare Financials Executive-Post uses many formats

·  All personal financial planning and medical management topics are available and delivered in multiple formats to meet your needs.

·  All educational products are designed to enable users to participate in their own learning. We use highly engaging websites, essays, templates, .ppt presentations, lectures, seminars, speaking engagements, .pdf files and real-life scenarios. These media channels and content topics are highly valued by our target audience.  

iMBA Inc., and Healthcare Financials Executive-Post gets results 

· Our synergistic websites, wikis, books, journal, dictionaries, white-papers, seminars, blogs and related didactic programs achieve significant positive results for our subscribers and are of national repute.

·  Healthcare executives recommend us and say they are better prepared to make managerial business decisions. Doctors say they plan on increasing their savings, reducing debt or changing their investment strategies as a result of our education; and financial advisors gain insight into the contemporary healthcare space to the benefit of their current and prospective physician clients.

· Click on or “search” for any of listed topics to view our e-posts. All related print products are available in detailed traditional format, to be purchased and/or licensed for use, as needed. 

iMBA Inc., and Healthcare Financials Executive-Post offers niched content

1. All our content is created with the understanding that while doctors and their advisors tend to be uninterested in medical management terms, health economics and/or financial jargon; nearly all are interested in learning how to amass greater wealth thru improved medial practice efficiencies.

2. Our content is designed to answer medical executive’s most pressing financial and managerial questions, address their concerns and help advisors impart the information needed to achieve their client’s practice management and financial goals. Our blog forum is not only free and interactive, but highly focused and relevant to this important and underserved niche.

NOTE: Many content posts require either Adobe Acrobat Reader® or Microsoft Excel® to be installed on your PC. These applications may be downloaded for free.

 

Why Next Generation?                                                                               

The best way to describe our next-generation philosophy and educational approach is to illustrate it with three enterprising physicians who use a next-gen medical practice business model.

They are: Enoch Choi MD, of the Palo Alto Clinic who has a traditional, but technology enabled practice; Jordan Shlain MD, of “San Francisco On-Call” which provides a cash only mobile practice; and Jay Parkinson MD who has attained the most notoriety through his unique approach, clinical skill set, and artistic flair. These are representative of a growing number of similar practices that serve as an important concept to consider when preparing to serve the next-generation of physicians, executives, clinic administrators and health professional clients.

For example, Millenial doctors like these and others, will surely demand a new range of financial planners and advisors, and medical practice management services that do not exist within the current consulting construct.   

 In fact, the provision of integrated medical niche advice which has traditionally fallen outside the concept of traditional consulting services may be the biggest opportunity to impact the conjoined financial services profession and consulting industry. And, we are pleased to be considered vanguards in this exciting niche didactic endeavor, known as Healthcare Financial Planning and Business Advice, 2.0.

 

www.MedicalBusinessAdvisors.com 

www.HealthcareFinancials.com 

www.CertifiedMedicalPlanner.com

www.HealthDictionarySeries.com

DISCLIAMER: Our information, posts and content is offered for informative and educational purposes only. We are not acting as a Registered Investment Advisor (RIA), Wealth Management Advisor (WMA), Investment Counselor (IC), Financial Advisor (FA), Stock-Broker (SB), or Registered Representative (RR); nor are we providing Tax, Insurance, Accounting, IT Security, Legal or any other related advice or management consulting activity.

 

 

 

 

Filed under: Career Development | Tagged: | Leave a comment »

A Brief Overview of Estate Planning for Physicians

Posted on January 27, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

Join Our Mailing List

A “Necessary” Process for all Medical Professionals

[By Lawrence E. Howes; CFP™]

[By Joel B. Javer; CFP™]

“When we hear about a colleagues’ estate, we often conjure up images of rolling green countryside, horses, sprawling mansions and established family dynasties with more money than elderly Daddy Warbucks. These images of wealth have absolutely nothing to do with today’s definition of an estate, and its importance in the life of most physicians. Most likely, you and your loved ones have estates that are worth protecting.

Now, take the time to understand what your estate consists of, and why integrated financial, business and estate planning is such a valuable imperative for all medical professionals.” 

-Dr. David E. Marcinko; MBA, CMP™

***

Mature female physician with PC

***

Introduction

Estate planning is an ongoing process for all physicians, and should be part of your thinking every time you cogitate about the future.

What is Estate Planning?

Estate planning is probably the last bastion for the sincere procrastinator. 

As a medical professional, you are likely so busy pursuing your career that you think that you do not have time to plan.  Perhaps the current state of flux in health care keeps you too unsettled to think about long-term planning.  Maybe a fear of family conflicts, unresolved issues, or believing it will be too expensive to develop an estate plan keeps you from acting.

Goals of Estate Planning 

The four primary goals, of estate planning, to consider are:

· To maintain financial independence during your lifetime

· To reduce costs and not delay settling the estate

· To minimize estate taxes

·  To maximize the inheritance to chosen beneficiaries.

Your Estate Defined 

Your estate is the total value of everything you own; more specifically it is your home and everything in it, the car, minivan, SUV, diamond brooch, wine collection, portfolio of mutual funds, other investments, retirement plans, medical practice, ASC, ownership in a family business, vacation homes, furniture and clothing.

It all adds up very quickly, especially when you consider any positive effect that the stock market may have had on your investments and the escalation in the price of homes in many parts of the United States. 

Of course, it can go down just as quickly too, as in the de-escalation of home prices and the recent global stock market decline, etc. 

“Your “Covert” Estate Plan by Default

All too often, estate-planning decisions are routinely made for us without our knowledge. This may be considered your “covert” or defacto estate plan by default. For example: 

  • When you buy a house, the realtor assumes that you want the house titled as joint tenants with your spouse;
  • Your investment account is opened and it is titled in joint tenancy;
  • Your life insurance agent names your spouse as primary beneficiary and your minor children as contingent beneficiary;
  • You don’t take the time to draft a will, so by default the state you live in has prepared one for you;
  • Your medical practice agreement doesn’t address death or disability;
  • Your ex-spouse is still the beneficiary of your IRA, 401 (b) and 401(k) plan;
  • Your parents are still the beneficiaries of your life insurance.

Transparency 

Regardless of your current planning, let someone know the whereabouts of your existing estate planning documents and the names of your advisers.  All too often medical professionals keep these critically important wishes a non-transparent secret, which adds a frustrating search process to an already sad and disruptive time in the lives of loved ones. 

Common Estate Planning Impediments 

There are three common impediments to estate planning that include: 

  1. Contemplate the consequences one’s own death.
  2. Not understanding terms that health economists and advisors use.
  3. Distributing assets between a family legacy -or- charitable intent.

 Future Assessment 

There is no way that anyone can predict what future tax and estate laws will look like. The best we can do is plan based upon current law.

However, if started early enough, the estate planning process consists of many intermediate steps that over several years and may be considered enjoyable to the informed medical professional.

Conclusion

Your thoughts and comments on this ME-P are appreciated; do you even have an estate plan? 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:

Product Details  Product Details

 

Filed under: Estate Planning | Tagged: , , | 1 Comment »