Federal Drug Detailing Program

Posted on March 19, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

New Proposal for “Academic” Detailing

[By Staff Writers]

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A bill will soon be introduced in the United States Senate that would offer physicians an alternative source for the latest information about new drugs, instead of relying on pharmaceutical manufacturers and retail drug representatives.  

The Proposal 

The legislation, sponsored by Senators Herb Kohl (D-Wisconsin) and Dick Durbin (D-Ill.) would create a federal “academic” detailing program to produce independent educational materials for physicians and medical professionals on the safety and comparative effectiveness of prescription drugs.

This would include generic and over-the-counter products, based on research at pharmacy and medical schools, according to Modern Physician.  

Assessment 

Now, some academic detailing services have already been implemented at the state level and by integrated health systems such as Kaiser Permanente, while preliminary results suggest that these programs have effectively changed prescribing behavior while reducing health care costs. 

Conclusion 

And so, what are your thoughts on the matter; please comment and opine? 

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Fixed Annuity Tax Query?

Posted on March 19, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

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Dear Medical Executive-Post,

I purchased a fixed contract annuity for $50,000 in 2004.

This was a guaranteed principle annuity with MetLife. I used money from a CD. This was not an IRA. I withdrew interest monthly and withdrew the allowed 10% per year.

In January 2007, the interest was so low (2%), that I decided to withdraw all funds. I was charged a 6% early withdrawal penalty (approx. $2,300).

  • How is this treated for taxes?
  • Early withdrawal penalty on Line 33?
  • Loss on investment?

This does not show on the 1099, but it is on the remittance advice.

Thank you.
Linda

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

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