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

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About:

Financial Planner’s Library on CD-ROM [third edition] 

fp-book3

The financial planner is a like juggler, trying to keep a variety of balls simultaneously in the air.  Each aspect of practice becomes critical, just as action is needed. 

Some of the activities of operating a successful financial planning practice generally attract more attention than others, such as marketing and advertising, closing engagements, and office administration.  Because product review, selection and implementation are often related to advisor compensation, they attract a great deal of the financial juggler’s concentration. 

The heart of financial planning, advice, often receives little attention.  Not because it is unimportant, it just doesn’t seem immediately and predictably urgent.  That ball does not seem to be dropping so rapidly. 

However, retaining clients and receiving referrals from other professionals is very dependent on the quality of the advice delivered.  And, the first line of protection from practitioner liability exposure is to not deliver incorrect or incomplete advice. 

But, where does the advisor turn for ideas and organized research? 

There are many sources. Perhaps there was treatment of a critical topic at a prior conference?  But, which one?  Were the ideas in the presentation, or the handout?  Where is the workbook, white paper or cassette?  And, how can the professional advisor instantly search, retrieve, review and use the knowledge of experts? 

That’s what the Financial Planner’s Library on CD-ROM is all about.  It represents the collected wisdom of 40 noted experts, in 30 chapters.  Their vast experience, research and application techniques are assembled for quick access and easy use.   

Find the references you need from among 3,000 pages almost instantly.  Read the well-written discourse.  Discard what is not applicable.  Copy and retain that which is helpful, and paste it right into your analysis. There is nothing as valuable as a tool that is handy and right for the job.  The mechanic who left a critical tool back in the shop can’t fix a car on the road. 

Likewise the financial planner that suddenly recognizes the need for expert opinion to suggest an idea or confirm a suspicion cannot suddenly order the tool required, Financial Planner’s Library on CD-ROM.  It must be at hand, installed in your computer and tested. Every tool requires a bit of experience to be used effectively. 

The best time to learn is not under the urgency of a plan to be delivered to the client within a few hours.  The planner needs to reach into the toolbox, grasp the proper instrument, apply it correctly and voila – the problem is solved! 

Now that you have acquired a very powerful toolbox, you need to take a few moments while you are not under pressure, to learn how to use it. This will be most valuable for your business: 

  • You’ll be amazed at the learning you will be able to acquire by leisurely reading those sections most relevant to your practice; and also wander intellectually in the fields you’ve never explored, but would like to know more about.
  • You’ll know how to perform searches to instantly find the documents you need, and how to read and extract this information when it is required.

It only makes sense to practice with your new Financial Planner’s Library with CD-ROM.  If you are a prior user, quickly review the new features that have been added, and check out the revised and more efficient procedures.

By acquiring the Financial Planner’s Library on CD-ROM, you have equipped yourself with an entire box of very effective tools.  With only 10 to 15 minutes of practice you will know how to use it efficiently.  Then, just when you suddenly need the resources of great minds and endless experience – here it is at the click of your mouse! 

Edwin P. Morrow; CFPTM, CLU, ChFC, RFC

Middletown, Ohio, USA 

Speaker: If you need a moderator or a speaker for an upcoming event, Dr. David Edward Marcinko; MBA – Editor and Publisher-in-Chief – is available for speaking engagements. Contact him at: MarcinkoAdvisors@msn.com

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Patterns of Medical Practice Risks

Applied Statistics and Large Numbers

By Dr. Charles F. Fenton III; Esq  

One of the next big areas of medical practice risk management that will surface in the near future is the Pattern of Practice Risk.   

Pattern of Practice refers to the way that a particular physician practices medicine. With computers, standardized diagnosis and treatment codes – and the budgetary restraints inherent in medical practice – it is becoming easy to statistically analyze a physician’s method of practice. 

Outliers – Can Lie 

The treatment and diagnosis codes that a physician uses and submits to third party payers can be quantified and compared colleagues in the same or similar specialties. Statistical outliers can be identified.  

Assessment 

These outliers are then further audited and required to justify their treatments. If no rational basis exists for the statistical differences, the outlier may find himself the subject of a fraud investigation. 

Conclusion 

Have you ever been involved in a patterns-of-medical-practice audit? If so, please comment on your experience.

More info: http://www.jbpub.com/catalog/9780763733421/ 

Institutional: www.HealthcareFinancials.com 

Terms: www.HealthDictionarySeries.com

 

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Understanding Medical Networks and IPA’s

By Dr. David Edward Marcinko; MBA CMP™

[Publisher-in-Chief] 

DEM blueIn an attempt to increase market share and augment  profits, some doctors contemplate forming Independent Physician Associations (IPAs). 

IPA Benefits 

Some of the benefits of IPAs include: 

  • Marketing, advertising and purchase advantages through economies of scale 
  • Network pays the MD/DO directly
  • No need for individual MCO contract negotiations
  • Patients and their cash flow streams are quickly available
  • Collective group autonomy exists. 

IPA Risks 

On the other hand, IPA potential risks include:  

The MD/DO is not capitated but the physician pool likely will be. This merely means that the per unit price of each medical intervention will likely decrease as individual doctors in the pool competed for its limited resources (managed competition).

Other risks include:  

  • Variable income due to the managed competition
  • High 10-20% administrative fees payable in cash to IPA managers
  • Reduced and discounted fee schedules
  • Lost personal autonomy.   

Insolvent IPAs 

Obviously, signs of insolvent IPAs and related medical networks include:

  • Delayed data entry
  • Telephone or facsimile delays
  • Slow payment schedules
  • Poor expense tracking.
  • Insufficient HIT, security and related software
  • Sparse interest statements or financial information. 

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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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