Goodnight Willem J. Kolff MD

Posted on February 22, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Join Our Mailing List

A Medical Inventor and Bio-Engineering Pioneer

By Dr. David Edward Marcinko; FACFAS, MBA, CMP™

[Publisher-in-Chief]dr-david-marcinko19

OK; let’s get this right out into the open. Although I did a little reconstructive bone and traumatic joint surgery in my career, I am not a cardio-vascular surgeon, nor am I a cardiologist, or even a nephrologist. But, I did treat more than my share of diabetic, alcoholic or other patients on renal dialysis and was well aware of the immense contributions of Willem Kolff to the profession. Therefore, I was saddened to learn of his recent passing at age 97. You see, Dr. Kolff not only developed the well known blood cleansing process that is now portable; he was also originator of the artificial-heart.

About Willem Johan Kolff; MD

When Willem Johan Kolff began work on the artificial kidney, few believed it possible. To draw a patient’s blood, cleanse it of toxins and return it seemed beyond the expertise of the most sophisticated medical centers. In the beginning, Dr. Kolff had no resources to draw upon. He was the sole internist in a small-town hospital, in the middle of the occupied Netherlands, during wartime. Materials were in short supply. The first 15 patients to receive the treatment failed to recover, but Dr. Kolff persevered. The dialysis treatment he pioneered and since perfected saved the lives, and limbs, of hundreds of thousands of patients, all over the world.

Link: http://www.achievement.org/autodoc/page/kol0int-1

Assessment

Dr. Kolff went on to design the heart-lung machine that made open-heart surgery possible. He pioneered artificial eyes, ears and arms, and for 25 years led the effort to develop the artificial heart. In 1982, a heart designed under his supervision was successfully implanted in Barney Clark, an event that captured the imagination of the world. All this was accomplished before such medical media stars as Dr. Robert Jarvik [Kolff’s student at the University of Utah in 1971] were lauded on TV, and then ignominiously dissed, for never having actually practiced medicine on real patients. In fact, Jarvik never pursued a medical internship, is not licensed to practice and can’t legally prescribe. Just imagine that!

Link: https://healthcarefinancials.wordpress.com/2008/02/14/the-jarvik-affair 

Channel Surfing the ME-P

Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register. It is fast, free and secure.

Conclusion

Your thoughts and comments on this ME-P are appreciated. 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 DetailsProduct DetailsProduct Details

Filed under: "Doctors Only", Op-Editorials, Quality Initiatives | Tagged: , , , , , , , , | Leave a comment »

Medical Practice Financial Accounting

Posted on February 22, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

The Three Methods of Medical Office Accounting

 By Dr. Gary L. Bode; CPA, MSA

gary-bode2

Did you know that there are three recognized methods of financial accounting used in medical offices today? If not, this brief rundown on all three methods will help: 

1) Cash method  

Here, money is counted only as you deposit it, and “spent” only when write a check.  Simplistic, but intuitively obvious, this resembles your check register.

Unfortunately, the true cash flow method is seldom seen.  Most accountants use a tax-modified version of the cash flow method, as required by the IRS for tax reporting purposes.

2) Accrual method 

Here, income is counted as you earn it, so your accounts receivable is counted as income when you treat patients, despite receiving no cash for it as yet. Expenses get entered as you incur them.

In other words you enter a supply order as an expense as it’s placed, not just when you pay for it.  This method affords logical treatment of a wider variety of accounting issues than does the cash method and the IRS requires it once certain criteria are met.  

3) Modified cash (tax) method 

This is the cash method modified by depreciation and amortization as required by the IRS. 

Now, which accounting method is used in your situation, and why?

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated.

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:

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

Physician Advisors: www.CertifiedMedicalPlanner.org

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 Details  Product Details

Filed under: Accounting | Tagged: | 4 Comments »