How to Study Medicine

Posted on May 20, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

Practice Management -or- “Sutures for Life”

Dr. David Edward Marcinko; MBA, CMP™

[Publisher-in-Chief]

Although we are apostles of the still living Kenneth J. Arrow PhD – the Noble Prize winning health economist – we also remember David Cheever MD as much more than a surgical innovator.

http://nobelprize.org/nobel_prizes/economics/laureates/1972/arrow-autobio.html

And, like Arrow, his human compassion and true fiduciary character is revealed in the following passage from a lecture delivered before the Harvard Medical School class of 1871, entitled “How to Study Medicine.”

… ”If you seek for wealth you have mistaken your avocation. There must be something more and something higher. That something is a love of your profession; a passion for science for its own sake; a broad humanity, which covers all the sick with a mantle of charity. Never lose sight of that motive, for if it once takes flight, your profession is reduced to a trade, and there is absolutely nothing left …”

… “As long as you can keep alive the sacred flame of this early passion which first called you to embrace the medical profession, so long shall you be warmed, sustained, upheld amid disappointment, unjust treatment or reverses …”

Note: David W. Cheever MD served as Professor of Surgery Emeritus for HMS. He performed the first esophagectomy in the US at BCH.

Conclusion

Your comments and practice philosophy 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

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 him at: MarcinkoAdvisors@msn.com  or Bio: http://www.stpub.com/pubs/authors/MARCINKO.htm

Subscribe Now: Did you like this Executive-Post, or find it helpful, interesting and informative? Want to get the latest E-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Nobel Prize Medal

 

 

 

Filed under: "Doctors Only", Career Development, Op-Editorials | Leave a comment »

Hospital, Clinic and Physician Pricing

Posted on May 20, 2008 by Dr. David Edward Marcinko MBA MEd CMP™

Emerging Medical Transparency Initiatives

By Prof. Hope Rachel Hetico; RN, MHA, CMP™

In 2007, federal and state legislatures first called for hospitals across the country to make their prices “transparent.” 

Definition

The term transparency was defined as the full, accurate, and timely disclosure of hospital charges to consumers of healthcare, as well as the process employed to arrive at those fees. Moreover, transparency does not merely involve publishing a list of prices and fees. 

Essentially, hospital CXOs and physicians must also be able to present their prices in a manner that is understandable to the general public and they must be prepared to explain the rationale behind their charges.

State of the States

Currently, at least 33 states have already proposed or passed legislation regarding publication of hospital charges.

For example, the average cost for a hip, knee or ankle joint replacement is $38,443; while a heart valve operation is $124,561and a back fusion is $60,406.  Torrance California based HealthCare Partners now notes on its Website that it charges $15 for flu vaccines, $61 for a chest X-ray, while a colonoscopy costs $424.

And, right here in Atlanta, Emory University at Johns Creek Hospital is now advertising its obstetrics, anesthesia, pediatric and childbirth delivery services in bundled financial packages for private pay patients, and those with HSAs, MSAs and HD-HCPs, etc. In fact, the program was promoted on TV this day, by it first-ever CEO. Located in the heart of the City of Duluth in North Atlanta; Emory Johns Creek is a 110-bed, all private room hospital. It features a comprehensive range of services from 24/7 ER, surgery using the latest stealth technology, 64 slice CT, MRI, nuclear medicine and interventional procedures. The “Birth Place” gives women and their families a high touch, luxurious alternative with the peace of mind of a Level III Neonatal Intensive Care Unit [NICU].

http://emoryjohnscreek.patientfinancialresource.com/CustomPage.asp?pagename=Home_Behavioral

Assessment

Such financial and economic initiatives demonstrate increasing industry competition with advancing patient empowerment, with other innovations like concierge medicine, onsite and retail medical clinics, etc.

Conclusion

What are your thoughts, experiences and comments on the above emerging issue of medical pricing transparency?

Related Information Sources:

Medical 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

Physician Advisors: www.CertifiedMedicalPlanner.com

Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest ME-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Product DetailsProduct DetailsProduct Details

Filed under: Career Development, Health Economics, Managed Care, Marketing & Advertising | 2 Comments »