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Grievous Physician Mistakes
Staff Reporters
Welcome to this op-ed piece where you send us your most grievous investing, medical practice management and/or financial planning mistakes.
As Wall Street unwinds, the problems with Bear-Stearns, Lehman Brothers, USB, Wachovia, Fannie Mae and Freddie Mac, WaMu, Merrill Lynch, SunTrust and AIG, etc, demand that we consider our past transgressions; along with a significant mea-culpa; not to repeat same.
And so, please send us your heart-felt errors so that others may learn from them. Feel free to remain anonymous, if you like. There is no limit to the number of times you can post.
Assessment
Remember, there are two types of mistakes:
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Medical practice management, and
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Investing and financial planning mistakes.
Conclusion
Your comments are appreciated. We will begin with a few examples, cited below to get started.
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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Filed under: Financial Planning, Investing, Op-Editorials, Practice Management, Risk Management |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
Financial Planning and Investing Mistakes
Recall the tale of Dr. Debasis Kanjilal, a pediatrician from New York who put more than $500,000 into the dot.com company, InfoSpace, upon the advice of Merrill Lynch’s star but non fiduciary analyst Henry Bloget. Is it any wonder that when the company crashed, the analyst was sued, and Merrill settled out of court?
Other analysts, such as Mary Meeker of Morgan Stanley, Dean Witter and Jack Grubman from Salomon Smith Barney, are involved in similar fiascos. Although sad, this story is a matter of public record.
Hopefully, doctors now understand that the big brokerage houses that underwrite and recommend stocks may have credibility problems, and that physicians got burned with the adrenalin rush of “self-directed” portfolios
-Ann
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Definition
me•a cul•pa (m k l p , m ) n.
An acknowledgment of a personal error or fault
[Latin me culp , through my fault : me , feminine ablative of meus, my + culp , ablative of culpa, fault.]
-Dave Marcinko
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Medical Practice Management Mistakes
As the managed care and health insurance crisis exacerbates, there are far too many examples of irrational practice management behavior on the part of physicians. And, it seems that no specialty is immune.
For example, just reflect a moment on colleagues willing to securitize their medical practices a few years ago, and cash out to Wall Street for perceived riches that were not rightly deserved. Where are firms such as MedPartners, Phycor, FPA and Coastal now? A recent survey of the Cain Brothers Physician Practice Management Corporation Index of publicly traded PPMCs revealed a market capital loss of more than 95%, since inception.
-Hope
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Oh Henry!
Henry Blodget recently pointed out that Google shares are down 50% from their high, closing today at $346.01. What will the impact of this deterioration be? Blodget has a few guesses:
1. Shareholders will want more explanation for Google’s massive spending on research and capital projects.
2. Google might feel pressured to lay off employees or cut spending in other ways.
3. Declining share price could hurt employee morale and shift compensation focus to cash instead of options.
4. Employees will continue to jump ship.
5. Google will lose some of its luster.
Please subscribe and contribute your own thoughts, experiences, questions, knowledge and comments to this story for the benefit of all our Executive-Post readers.
Dr. David Edward Marcinko; MBA
Publisher-in-Chief
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